Bank of America Corp DE Has $18.63 Million Stake in Highwoods Properties, Inc. (NYSE:HIW)

Bank of America Corp DE lowered its position in Highwoods Properties, Inc. (NYSE:HIW) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 609,064 shares of the real estate investment trust’s stock after selling 229,494 shares during the period. Bank of America Corp DE owned 0.57% of Highwoods Properties worth $18,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HIW. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $99,869,000 after purchasing an additional 556,828 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Highwoods Properties by 3.5% during the fourth 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. Northern Trust Corp lifted its position in shares of Highwoods Properties by 29.0% in the fourth quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust’s stock worth $56,721,000 after buying an additional 416,791 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Highwoods Properties by 23.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust’s stock worth $47,154,000 after acquiring an additional 290,356 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Highwoods Properties by 32.2% during the 4th quarter. Sei Investments Co. now owns 1,328,543 shares of the real estate investment trust’s stock valued at $40,627,000 after acquiring an additional 323,946 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of HIW stock opened at $29.95 on Wednesday. Highwoods Properties, Inc. has a 52 week low of $24.07 and a 52 week high of $36.78. The stock has a market capitalization of $3.23 billion, a PE ratio of 31.53 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s fifty day moving average is $28.48 and its 200-day moving average is $29.67.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. The firm had revenue of $200.38 million for the quarter, compared to analyst estimates of $201.31 million. During the same quarter in the prior year, the firm earned $0.89 EPS. The company’s revenue was down 5.2% on a year-over-year basis. Equities research analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.68%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties’s dividend payout ratio (DPR) is presently 124.22%.

Wall Street Analyst Weigh In

HIW has been the topic of a number of recent analyst reports. StockNews.com raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. 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 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Truist Financial cut their target price on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Highwoods Properties currently has an average rating of “Hold” and an average target price of $31.83.

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.