Victory Capital Management Inc. Has $28.17 Million Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Victory Capital Management Inc. lowered its stake in Highwoods Properties, Inc. (NYSE:HIW) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 840,534 shares of the real estate investment trust’s stock after selling 8,119 shares during the quarter. Victory Capital Management Inc.’s holdings in Highwoods Properties were worth $28,166,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HIW. PGGM Investments grew its stake in Highwoods Properties by 77.9% in the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after purchasing an additional 1,589,730 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Highwoods Properties by 86.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock worth $30,813,000 after buying an additional 545,066 shares during the last quarter. Lasalle Investment Management Securities LLC bought a new stake in Highwoods Properties during the first quarter worth $8,444,000. LSV Asset Management lifted its stake in Highwoods Properties by 109.5% in the second quarter. LSV Asset Management now owns 552,000 shares of the real estate investment trust’s stock valued at $14,501,000 after acquiring an additional 288,500 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Highwoods Properties in the 1st quarter valued at about $7,215,000. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of NYSE HIW opened at $31.66 on Monday. The firm has a market cap of $3.36 billion, a P/E ratio of 23.63 and a beta of 1.26. The business’s 50 day moving average is $33.51 and its 200-day moving average is $29.99. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. Highwoods Properties, Inc. has a 1-year low of $17.58 and a 1-year high of $36.78.

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

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.32%. Highwoods Properties’s payout ratio is presently 149.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Truist Financial raised their price objective 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 lowered 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 report on Tuesday, October 1st. Finally, Robert W. Baird raised their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.20.

Highwoods Properties Company 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.