Highwoods Properties, Inc. (NYSE:HIW) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,352 shares of the real estate investment trust’s stock after selling 1,461 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Highwoods Properties were worth $225,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Highwoods Properties by 1.7% in the 3rd quarter. State Street Corp now owns 7,289,806 shares of the real estate investment trust’s stock worth $244,281,000 after acquiring an additional 124,646 shares during the last quarter. Franklin Resources Inc. increased its stake in Highwoods Properties by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after purchasing an additional 908,401 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 period. Geode Capital Management LLC raised its holdings in Highwoods Properties by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock worth $63,754,000 after buying an additional 12,958 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust’s stock valued at $47,154,000 after buying an additional 290,356 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

HIW opened at $29.21 on Friday. Highwoods Properties, Inc. has a 52-week low of $23.52 and a 52-week high of $36.78. The stock has a 50-day moving average of $29.11 and a 200-day moving average of $31.13. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $3.14 billion, a PE ratio of 30.74 and a beta of 1.25.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. As a group, equities research analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.85%. The ex-dividend date of this dividend was Tuesday, February 18th. Highwoods Properties’s dividend payout ratio is 210.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HIW shares. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a report on Monday, March 17th. They set a “buy” rating and a $32.00 price target on the stock. Mizuho boosted their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial decreased their target price 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, StockNews.com raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Highwoods Properties has a consensus rating of “Hold” and an average price target of $32.50.

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.