Wells Fargo & Company MN Reduces Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Wells Fargo & Company MN lessened its stake in Highwoods Properties, Inc. (NYSE:HIW) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,743 shares of the real estate investment trust’s stock after selling 32,571 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Highwoods Properties worth $3,998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HIW. Versant Capital Management Inc lifted its holdings in Highwoods Properties by 12.0% in the 4th quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 327 shares in the last quarter. Everhart Financial Group Inc. boosted its holdings in Highwoods Properties by 6.0% in the fourth quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust’s stock valued at $358,000 after purchasing an additional 660 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Highwoods Properties by 375.0% during the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 675 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Highwoods Properties by 26.1% during the 4th quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 851 shares during the last quarter. Finally, Inspire Investing LLC raised its position in shares of Highwoods Properties by 6.9% in the 4th quarter. Inspire Investing LLC now owns 13,202 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 855 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Trading Down 1.6 %

Shares of NYSE HIW opened at $27.13 on Tuesday. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 28.56 and a beta of 1.15. The stock’s 50 day simple moving average is $28.34 and its 200 day simple moving average is $30.40. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. Highwoods Properties, Inc. has a 12-month low of $24.03 and a 12-month high of $36.78.

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

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a yield of 7.37%. Highwoods Properties’s dividend payout ratio (DPR) is presently 210.53%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Truist Financial dropped their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. StockNews.com cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Thursday, April 3rd. Mizuho boosted 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. Finally, Jefferies Financial Group started coverage on Highwoods Properties in a report on Monday, March 17th. They set a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $32.50.

Highwoods Properties Company 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.