PNC Financial Services Group Inc. Purchases 496 Shares of Highwoods Properties, Inc. $HIW

PNC Financial Services Group Inc. raised its position in Highwoods Properties, Inc. (NYSE:HIW) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,908 shares of the real estate investment trust’s stock after purchasing an additional 496 shares during the period. PNC Financial Services Group Inc.’s holdings in Highwoods Properties were worth $205,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in Highwoods Properties by 87.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,118,701 shares of the real estate investment trust’s stock valued at $181,358,000 after buying an additional 2,852,877 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 purchasing an additional 416,791 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Highwoods Properties by 512.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust’s stock worth $38,961,000 after purchasing an additional 1,066,508 shares in the last quarter. CORDA Investment Management LLC. lifted its position in shares of Highwoods Properties by 19.7% in the first quarter. CORDA Investment Management LLC. now owns 1,019,186 shares of the real estate investment trust’s stock worth $30,209,000 after purchasing an additional 167,510 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Highwoods Properties by 14.0% in the first quarter. Victory Capital Management Inc. now owns 981,140 shares of the real estate investment trust’s stock worth $29,081,000 after purchasing an additional 120,568 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HIW. Truist Financial downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Wednesday, July 2nd. Wells Fargo & Company reduced their target price on shares of Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Mizuho boosted their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Wall Street Zen cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Highwoods Properties has an average rating of “Hold” and an average price target of $32.00.

Highwoods Properties Stock Down 1.2%

Highwoods Properties stock opened at $29.30 on Monday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. Highwoods Properties, Inc. has a 52-week low of $24.18 and a 52-week high of $36.78. The firm has a 50 day moving average price of $30.53 and a two-hundred day moving average price of $29.42. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 24.62 and a beta of 1.21.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $200.60 million during the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The company’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. Equities analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.8%. Highwoods Properties’s dividend payout ratio (DPR) is 168.07%.

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.