Summit Financial LLC Makes New Investment in Highwoods Properties, Inc. (NYSE:HIW)

Summit Financial LLC purchased a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,510 shares of the real estate investment trust’s stock, valued at approximately $230,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HIW. Versant Capital Management Inc increased its position in Highwoods Properties by 12.0% during the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 327 shares during the last quarter. Everhart Financial Group Inc. lifted its stake in shares of Highwoods Properties by 6.0% in the 4th quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 660 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Highwoods Properties by 375.0% in the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 675 shares during the last quarter. M&T Bank Corp grew its position in Highwoods Properties by 3.7% during the third quarter. M&T Bank Corp now owns 19,141 shares of the real estate investment trust’s stock valued at $642,000 after buying an additional 682 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Highwoods Properties by 26.1% during the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 851 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group began coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. StockNews.com cut Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Thursday. Truist Financial lowered their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Mizuho increased their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $32.50.

Highwoods Properties Stock Performance

NYSE HIW opened at $27.14 on Friday. The business has a 50-day moving average price of $28.99 and a 200-day moving average price of $31.00. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 28.57 and a beta of 1.25. Highwoods Properties, Inc. has a twelve month low of $23.52 and a twelve month high of $36.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. As a group, equities research analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Tuesday, February 18th. Highwoods Properties’s payout ratio is currently 210.53%.

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.