Oppenheimer Asset Management Inc. Buys 1,297 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Oppenheimer Asset Management Inc. lifted its stake in Highwoods Properties, Inc. (NYSE:HIW) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,955 shares of the real estate investment trust’s stock after purchasing an additional 1,297 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Highwoods Properties were worth $656,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. LSV Asset Management lifted its holdings in Highwoods Properties by 104.4% in the first quarter. LSV Asset Management now owns 263,500 shares of the real estate investment trust’s stock worth $6,898,000 after buying an additional 134,600 shares during the period. M&G Plc purchased a new position in shares of Highwoods Properties in the 1st quarter valued at approximately $10,047,000. Janus Henderson Group PLC boosted its position in shares of Highwoods Properties by 356.3% during the first quarter. Janus Henderson Group PLC now owns 219,555 shares of the real estate investment trust’s stock valued at $5,749,000 after purchasing an additional 171,435 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in Highwoods Properties by 162.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 59,826 shares of the real estate investment trust’s stock worth $1,374,000 after purchasing an additional 37,002 shares during the period. Finally, Congress Asset Management Co. MA raised its holdings in Highwoods Properties by 380.0% in the fourth quarter. Congress Asset Management Co. MA now owns 131,015 shares of the real estate investment trust’s stock worth $3,008,000 after purchasing an additional 103,721 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HIW. Robert W. Baird upped their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Finally, Truist Financial lifted their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.29.

Highwoods Properties Stock Down 1.0 %

NYSE:HIW opened at $33.26 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $3.52 billion, a P/E ratio of 27.34 and a beta of 1.26. Highwoods Properties, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $33.79. The firm has a 50-day simple moving average of $30.89 and a two-hundred day simple moving average of $27.43.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.31). The firm had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. Highwoods Properties’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. Analysts predict that Highwoods Properties, Inc. will post 3.58 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.01%. The ex-dividend date of this dividend was Monday, August 19th. Highwoods Properties’s payout ratio is currently 163.93%.

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.