Highwoods Properties, Inc. $HIW Stock Holdings Raised by M&G PLC

M&G PLC grew its position in Highwoods Properties, Inc. (NYSE:HIW) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 840,364 shares of the real estate investment trust’s stock after acquiring an additional 16,636 shares during the period. M&G PLC owned about 0.76% of Highwoods Properties worth $24,371,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Kestra Advisory Services LLC increased its holdings in shares of Highwoods Properties by 5.7% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,438 shares of the real estate investment trust’s stock worth $506,000 after acquiring an additional 934 shares during the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Highwoods Properties by 752.0% in the second quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 940 shares during the last quarter. Pension & Wealth Management Advisors Inc. acquired a new position in shares of Highwoods Properties in the third quarter valued at $28,000. Lazard Asset Management LLC raised its position in shares of Highwoods Properties by 6.3% in the first quarter. Lazard Asset Management LLC now owns 17,814 shares of the real estate investment trust’s stock valued at $381,000 after purchasing an additional 1,050 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Highwoods Properties by 3.0% in the second quarter. Van ECK Associates Corp now owns 35,955 shares of the real estate investment trust’s stock valued at $1,084,000 after purchasing an additional 1,054 shares during the period. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on HIW. Huntington initiated coverage on Highwoods Properties in a research report on Wednesday, October 28th. They set a “hold” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Highwoods Properties in a research report on Thursday, October 29th. Mizuho set a $32.00 target price on shares of Highwoods Properties in a research report on Tuesday, September 8th. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $26.00 to $32.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Finally, Citigroup upped their price target on shares of Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Eight research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Price Performance

Highwoods Properties stock opened at $31.54 on Tuesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $3.48 billion, a PE ratio of 18.66 and a beta of 1.08. Highwoods Properties, Inc. has a 12 month low of $20.45 and a 12 month high of $35.44. The stock has a 50-day moving average price of $30.16 and a two-hundred day moving average price of $27.65.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. Highwoods Properties had a return on equity of 7.68% and a net margin of 22.56%. The firm had revenue of $218.18 million for the quarter, compared to analyst estimates of $216.39 million. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Highwoods Properties, Inc. will post 3.57 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, November 16th. Highwoods Properties’s payout ratio is 118.34%.

Highwoods Properties Profile

Highwoods Properties, Inc is a real estate investment trust that owns, develops, leases and manages office properties. Its portfolio is concentrated in business districts across the U.S. Sun Belt, including markets such as Atlanta, Charlotte, Nashville, Raleigh and Tampa.

The company provides office space and related property management services to businesses across a range of industries. Its work includes developing and maintaining properties as well as leasing space to commercial tenants.

Highwoods is headquartered in Raleigh, North Carolina.