Highwoods Properties, Inc. (NYSE:HIW) Position Cut by Arizona State Retirement System

Arizona State Retirement System lowered its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 43.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,595 shares of the real estate investment trust’s stock after selling 22,832 shares during the period. Arizona State Retirement System’s holdings in Highwoods Properties were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in shares of Highwoods Properties during the first quarter valued at $34,000. Abich Financial Wealth Management LLC raised its position in shares of Highwoods Properties by 45.5% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 580 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,214 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Highwoods Properties by 63.3% in the first quarter. GAMMA Investing LLC now owns 3,766 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 1,460 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Highwoods Properties during the first quarter valued at approximately $107,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of NYSE:HIW opened at $32.84 on Friday. The company has a market capitalization of $3.48 billion, a PE ratio of 26.92 and a beta of 1.26. 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 stock has a fifty day moving average of $30.39 and a 200-day moving average of $27.21. Highwoods Properties, Inc. has a one year low of $17.06 and a one year high of $32.88.

Highwoods Properties (NYSE:HIW) last announced 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 period last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Highwoods Properties, Inc. will post 3.58 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The company 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. 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 is currently 163.93%.

Analysts Set New Price Targets

A number of research firms have weighed in on HIW. Truist Financial upped their target price on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird upped their price objective on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday. 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, Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $27.29.

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.