Bank of New York Mellon Corp Has $36.42 Million Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Bank of New York Mellon Corp decreased its stake in Highwoods Properties, Inc. (NYSE:HIW) by 20.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,228,581 shares of the real estate investment trust’s stock after selling 313,405 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.14% of Highwoods Properties worth $36,415,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Jones Financial Companies Lllp boosted its stake in Highwoods Properties by 375.0% in the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 675 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Highwoods Properties during the 4th quarter worth approximately $59,000. Spirit of America Management Corp NY bought a new stake in Highwoods Properties during the 1st quarter worth approximately $59,000. EverSource Wealth Advisors LLC increased its stake in Highwoods Properties by 363.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 2,331 shares in the last quarter. Finally, State of Wyoming grew its stake in shares of Highwoods Properties by 88.4% during the 4th quarter. State of Wyoming now owns 3,137 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 1,472 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Wall Street Analysts Forecast Growth

HIW has been the subject of several research reports. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They set a “buy” rating and a $32.00 price target for the company. Truist Financial downgraded Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price target for the company. in a report on Wednesday, July 2nd. Wall Street Zen upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Finally, Mizuho raised their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.00.

Highwoods Properties Stock Performance

Shares of HIW stock opened at $31.91 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. Highwoods Properties, Inc. has a fifty-two week low of $24.19 and a fifty-two week high of $36.78. The stock has a 50 day moving average price of $30.59 and a two-hundred day moving average price of $29.42. The company has a market capitalization of $3.44 billion, a P/E ratio of 19.82 and a beta of 1.21.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Highwoods Properties had a return on equity of 7.43% and a net margin of 21.53%. The business had revenue of $200.38 million during the quarter, compared to the consensus estimate of $201.31 million. During the same quarter in the prior year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. Analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.27%. The ex-dividend date of this dividend was Monday, May 19th. Highwoods Properties’s dividend payout ratio (DPR) is currently 124.22%.

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.