Highwoods Properties, Inc. (NYSE:HIW) Shares Bought by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC lifted its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 45.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,855 shares of the real estate investment trust’s stock after buying an additional 580 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Highwoods Properties were worth $49,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Lasalle Investment Management Securities LLC purchased a new stake in Highwoods Properties in the 1st quarter valued at $8,444,000. Pathway Financial Advisers LLC purchased a new stake in Highwoods Properties in the 1st quarter valued at $107,000. Swedbank AB purchased a new stake in Highwoods Properties in the 1st quarter valued at $7,215,000. Janus Henderson Group PLC grew its holdings in Highwoods Properties by 356.3% in the 1st quarter. Janus Henderson Group PLC now owns 219,555 shares of the real estate investment trust’s stock valued at $5,749,000 after buying an additional 171,435 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Highwoods Properties by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,081 shares of the real estate investment trust’s stock valued at $1,495,000 after buying an additional 3,229 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on HIW. Robert W. Baird upped their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.86.

Highwoods Properties Trading Down 2.3 %

HIW traded down $0.72 during mid-day trading on Friday, hitting $29.92. 820,090 shares of the stock were exchanged, compared to its average volume of 1,020,664. 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 company has a market cap of $3.17 billion, a PE ratio of 24.52 and a beta of 1.26. The firm’s fifty day moving average is $26.93 and its two-hundred day moving average is $25.44. Highwoods Properties, Inc. has a 1-year low of $17.06 and a 1-year high of $31.58.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). The company had revenue of $204.74 million during the quarter, compared to analyst estimates of $205.06 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. Highwoods Properties’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.94 EPS. Equities analysts forecast that Highwoods Properties, Inc. will post 3.58 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.68%. Highwoods Properties’s payout ratio is currently 163.93%.

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.