Rhumbline Advisers Has $7.55 Million Stake in Highwoods Properties, Inc. (NYSE:HIW)

Rhumbline Advisers trimmed its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,333 shares of the real estate investment trust’s stock after selling 9,256 shares during the period. Rhumbline Advisers’ holdings in Highwoods Properties were worth $7,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Natixis Advisors L.P. increased its stake in Highwoods Properties by 31.7% in the fourth quarter. Natixis Advisors L.P. now owns 23,387 shares of the real estate investment trust’s stock valued at $536,000 after acquiring an additional 5,624 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Highwoods Properties by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,898,083 shares of the real estate investment trust’s stock valued at $43,580,000 after acquiring an additional 124,577 shares during the last quarter. QRG Capital Management Inc. grew its position in Highwoods Properties by 20.2% in the fourth quarter. QRG Capital Management Inc. now owns 14,875 shares of the real estate investment trust’s stock valued at $342,000 after acquiring an additional 2,503 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Highwoods Properties by 5.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 65,962 shares of the real estate investment trust’s stock valued at $1,482,000 after acquiring an additional 3,389 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Highwoods Properties by 18.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,450 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 857 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Stock Up 1.3 %

Shares of Highwoods Properties stock opened at $32.82 on Friday. Highwoods Properties, Inc. has a one year low of $17.06 and a one year high of $32.88. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day moving average is $30.39 and its 200 day moving average is $27.18. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 26.90 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.31). The firm had revenue of $204.74 million during the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. Equities research analysts anticipate that Highwoods Properties, Inc. will post 3.58 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.00 annualized dividend and a yield of 6.09%. Highwoods Properties’s payout ratio is currently 163.93%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HIW shares. Wells Fargo & Company lifted their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday. Robert W. Baird lifted their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Truist Financial boosted their price target on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $27.29.

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.