Proficio Capital Partners LLC Takes $674,000 Position in Highwoods Properties, Inc. (NYSE:HIW)

Proficio Capital Partners LLC bought a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,048 shares of the real estate investment trust’s stock, valued at approximately $674,000.

Other institutional investors have also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Highwoods Properties by 72.6% during the 4th quarter. US Bancorp DE now owns 21,956 shares of the real estate investment trust’s stock valued at $671,000 after acquiring an additional 9,235 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Highwoods Properties by 436.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 215,724 shares of the real estate investment trust’s stock worth $7,229,000 after buying an additional 175,499 shares during the last quarter. B&I Capital AG lifted its position in shares of Highwoods Properties by 111.7% during the 4th quarter. B&I Capital AG now owns 262,500 shares of the real estate investment trust’s stock worth $8,027,000 after buying an additional 138,500 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Highwoods Properties by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock worth $65,235,000 after buying an additional 71,670 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Highwoods Properties by 65.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 2,587 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HIW shares. Jefferies Financial Group started coverage on Highwoods Properties in a research report on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. StockNews.com upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Truist Financial dropped their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Mizuho upped their price objective on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Highwoods Properties Price Performance

Highwoods Properties stock opened at $28.81 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $3.10 billion, a PE ratio of 30.32 and a beta of 1.25. Highwoods Properties, Inc. has a 12 month low of $23.52 and a 12 month high of $36.78. The stock has a 50-day moving average price of $29.14 and a two-hundred day moving average price of $31.21.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. Analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.94%. Highwoods Properties’s payout ratio is 210.53%.

Highwoods Properties 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.