The Manufacturers Life Insurance Company Purchases 511 Shares of Highwoods Properties, Inc. (NYSE:HIW)

The Manufacturers Life Insurance Company increased its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,537 shares of the real estate investment trust’s stock after purchasing an additional 511 shares during the period. The Manufacturers Life Insurance Company’s holdings in Highwoods Properties were worth $566,000 at the end of the most recent reporting period.

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

Highwoods Properties Stock Up 3.0 %

Shares of HIW opened at $35.26 on Wednesday. The firm has a fifty day moving average price of $32.31 and a 200-day moving average price of $28.51. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $3.74 billion, a P/E ratio of 28.90 and a beta of 1.26. Highwoods Properties, Inc. has a 12-month low of $17.06 and a 12-month high of $35.95.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.31). The company had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. Equities research analysts expect that Highwoods Properties, Inc. will post 3.6 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on HIW. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and raised their target price for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Truist Financial upped their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price target on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird boosted their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.86.

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.