Envestnet Asset Management Inc. Reduces Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

Envestnet Asset Management Inc. trimmed its position in Highwoods Properties, Inc. (NYSE:HIW) by 5.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 233,225 shares of the real estate investment trust’s stock after selling 14,087 shares during the quarter. Envestnet Asset Management Inc. owned about 0.22% of Highwoods Properties worth $7,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIW. Massachusetts Financial Services Co. MA raised its holdings in Highwoods Properties by 20.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock worth $99,869,000 after purchasing an additional 556,828 shares during the period. Franklin Resources Inc. raised its stake in shares of Highwoods Properties by 40.9% during the 3rd quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after buying an additional 908,401 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Highwoods Properties by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock valued at $65,235,000 after buying an additional 71,670 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Highwoods Properties by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock valued at $63,754,000 after buying an additional 12,958 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Highwoods Properties by 23.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust’s stock valued at $47,154,000 after acquiring an additional 290,356 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Thursday, April 3rd. Jefferies Financial Group initiated coverage on Highwoods Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $32.00 target price on the stock. Truist Financial dropped their price target on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Mizuho raised their price objective on Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.50.

Highwoods Properties Trading Up 0.9 %

Shares of Highwoods Properties stock opened at $27.53 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 28.98 and a beta of 1.15. Highwoods Properties, Inc. has a 52-week low of $24.03 and a 52-week high of $36.78. The company’s 50-day simple moving average is $28.37 and its 200-day simple moving average is $30.44.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. As a group, equities research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a yield of 7.26%. Highwoods Properties’s dividend payout ratio (DPR) is 210.53%.

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.