KLP Kapitalforvaltning AS Takes $636,000 Position in Highwoods Properties, Inc. (NYSE:HIW)

KLP Kapitalforvaltning AS purchased a new stake in Highwoods Properties, Inc. (NYSE:HIW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,800 shares of the real estate investment trust’s stock, valued at approximately $636,000.

Other institutional investors have also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its holdings in shares of Highwoods Properties by 375.0% in the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 675 shares during the period. Quarry LP acquired a new position in Highwoods Properties in the 3rd quarter valued at approximately $48,000. Smartleaf Asset Management LLC raised its holdings in shares of Highwoods Properties by 124.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust’s stock worth $73,000 after acquiring an additional 1,351 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Highwoods Properties by 363.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 2,331 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Highwoods Properties by 12.0% during the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

NYSE HIW opened at $29.85 on Thursday. Highwoods Properties, Inc. has a 1-year low of $23.52 and a 1-year high of $36.78. The company has a 50 day moving average of $29.07 and a 200-day moving average of $31.07. 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 firm has a market cap of $3.21 billion, a price-to-earnings ratio of 31.42 and a beta of 1.25.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. On average, equities analysts forecast that Highwoods Properties, Inc. will post 3.36 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, March 11th. Investors of record on Tuesday, February 18th were issued a $0.50 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.70%. Highwoods Properties’s dividend payout ratio is 210.53%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, March 14th. Truist Financial decreased their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Mizuho boosted their price target on Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.