Harvest Portfolios Group Inc. Purchases 21,455 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Harvest Portfolios Group Inc. raised its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 141.2% during the 3rd quarter, Holdings Channel reports. The fund owned 36,647 shares of the real estate investment trust’s stock after purchasing an additional 21,455 shares during the period. Harvest Portfolios Group Inc.’s holdings in Highwoods Properties were worth $1,228,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIW. LSV Asset Management increased its position in Highwoods Properties by 104.4% during the first quarter. LSV Asset Management now owns 263,500 shares of the real estate investment trust’s stock valued at $6,898,000 after acquiring an additional 134,600 shares during the last quarter. M&G Plc purchased a new position in Highwoods Properties during the 1st quarter worth $10,047,000. Janus Henderson Group PLC raised its stake in Highwoods Properties by 356.3% in the first quarter. Janus Henderson Group PLC now owns 219,555 shares of the real estate investment trust’s stock worth $5,749,000 after buying an additional 171,435 shares in the last quarter. SG Americas Securities LLC grew its stake in Highwoods Properties by 220.2% in the first quarter. SG Americas Securities LLC now owns 77,505 shares of the real estate investment trust’s stock valued at $2,029,000 after purchasing an additional 53,301 shares during the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Highwoods Properties by 102.8% during the 1st quarter. UniSuper Management Pty Ltd now owns 59,619 shares of the real estate investment trust’s stock valued at $1,561,000 after purchasing an additional 30,219 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Up 1.2 %

HIW stock opened at $33.67 on Thursday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The company has a fifty day moving average of $33.36 and a 200-day moving average of $29.59. Highwoods Properties, Inc. has a one year low of $17.17 and a one year high of $36.78. The stock has a market capitalization of $3.57 billion, a PE ratio of 25.13 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The company had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $204.96 million. During the same quarter in the prior year, the business posted $0.93 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts expect that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is 149.25%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday. Truist Financial lifted their price target on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.33.

Highwoods Properties Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.