Wealth Enhancement Advisory Services LLC Invests $259,000 in Highwoods Properties, Inc. (NYSE:HIW)

Wealth Enhancement Advisory Services LLC acquired a new position in Highwoods Properties, Inc. (NYSE:HIW) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,722 shares of the real estate investment trust’s stock, valued at approximately $259,000.

Several other large investors also recently added to or reduced their stakes in HIW. Quent Capital LLC boosted its position in shares of Highwoods Properties by 12.3% during the 1st quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 583 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Highwoods Properties by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 92,516 shares of the real estate investment trust’s stock worth $2,422,000 after buying an additional 1,466 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Highwoods Properties in the 1st quarter worth $222,000. SG Americas Securities LLC raised its position in shares of Highwoods Properties by 220.2% during the 1st quarter. SG Americas Securities LLC now owns 77,505 shares of the real estate investment trust’s stock valued at $2,029,000 after buying an additional 53,301 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Highwoods Properties during the 1st quarter worth $249,000. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Trading Down 1.8 %

Shares of HIW opened at $33.19 on Tuesday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 24.77 and a beta of 1.26. Highwoods Properties, Inc. has a twelve month low of $17.17 and a twelve month high of $36.78. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41. The firm has a fifty day simple moving average of $33.49 and a two-hundred day simple moving average of $29.82.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The business had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same period in the previous year, the business earned $0.93 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, research analysts anticipate that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is currently 149.25%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HIW. Truist Financial raised their price target on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and boosted their target price for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Robert W. Baird boosted their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.33.

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.