Oppenheimer Asset Management Inc. Sells 394 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Oppenheimer Asset Management Inc. decreased its position in Highwoods Properties, Inc. (NYSE:HIW) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,561 shares of the real estate investment trust’s stock after selling 394 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Highwoods Properties were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HIW. Quent Capital LLC lifted its position in Highwoods Properties by 12.3% in the 1st quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 583 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Highwoods Properties in the 1st quarter worth approximately $222,000. State Board of Administration of Florida Retirement System lifted its position in Highwoods Properties by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 94,187 shares of the real estate investment trust’s stock worth $2,466,000 after buying an additional 2,275 shares during the last quarter. UniSuper Management Pty Ltd lifted its position in Highwoods Properties by 102.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 59,619 shares of the real estate investment trust’s stock worth $1,561,000 after buying an additional 30,219 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in Highwoods Properties by 5.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 233,864 shares of the real estate investment trust’s stock worth $6,125,000 after buying an additional 13,082 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

HIW opened at $31.40 on Tuesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. Highwoods Properties, Inc. has a 52-week low of $17.58 and a 52-week high of $36.78. The stock has a market capitalization of $3.33 billion, a PE ratio of 23.43 and a beta of 1.26. The stock’s 50 day moving average price is $33.51 and its 200-day moving average price is $30.02.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results 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). Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The firm had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 annualized dividend and a dividend yield of 6.37%. Highwoods Properties’s dividend payout ratio is presently 149.25%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird lifted their price target on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial lifted their price target on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and lifted their price target for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company lifted their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Highwoods Properties has a consensus rating of “Hold” and a consensus price target 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.