Advisors Asset Management Inc. Lowers Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Advisors Asset Management Inc. decreased its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 22.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 43,903 shares of the real estate investment trust’s stock after selling 12,386 shares during the quarter. Advisors Asset Management Inc.’s holdings in Highwoods Properties were worth $1,471,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HIW. Abich Financial Wealth Management LLC raised its stake in Highwoods Properties by 45.5% in the first quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 580 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC purchased a new stake in shares of Highwoods Properties during the 1st quarter worth $107,000. Blue Trust Inc. boosted its position in Highwoods Properties by 269.8% during the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Highwoods Properties by 55.8% in the third quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HIW has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Truist Financial upped their price target on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. 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 report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and upped their target price for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.20.

Highwoods Properties Price Performance

Shares of HIW opened at $32.34 on Tuesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The company’s fifty day moving average price is $33.45 and its 200-day moving average price is $30.20. Highwoods Properties, Inc. has a 1-year low of $17.58 and a 1-year high of $36.78. The firm has a market capitalization of $3.43 billion, a PE ratio of 24.13 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The firm had revenue of $204.30 million during the quarter, compared to analyst estimates of $204.96 million. During the same period in the prior year, the company posted $0.93 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.18%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s payout ratio is 149.25%.

About Highwoods Properties

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.