Algert Global LLC Buys 10,652 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Algert Global LLC boosted its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 61.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,033 shares of the real estate investment trust’s stock after purchasing an additional 10,652 shares during the period. Algert Global LLC’s holdings in Highwoods Properties were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Highwoods Properties by 2.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,537 shares of the real estate investment trust’s stock valued at $566,000 after purchasing an additional 511 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Highwoods Properties in the second quarter valued at $218,000. Caxton Associates LP increased its stake in Highwoods Properties by 17.0% in the 2nd quarter. Caxton Associates LP now owns 27,875 shares of the real estate investment trust’s stock valued at $732,000 after buying an additional 4,057 shares during the last quarter. Squarepoint Ops LLC lifted its position in Highwoods Properties by 88.0% during the 2nd quarter. Squarepoint Ops LLC now owns 28,535 shares of the real estate investment trust’s stock worth $750,000 after buying an additional 13,355 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Highwoods Properties by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 371 shares during 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 topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Robert W. Baird boosted their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.86.

Highwoods Properties Trading Down 0.3 %

Shares of Highwoods Properties stock opened at $32.85 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day simple moving average of $31.88 and a two-hundred day simple moving average of $28.08. Highwoods Properties, Inc. has a 1 year low of $17.06 and a 1 year high of $33.96. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 26.93 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The company had revenue of $204.74 million for the quarter, compared to analyst estimates of $205.06 million. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Research analysts forecast that Highwoods Properties, Inc. will post 3.59 EPS for the current year.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.09%. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

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.