CORDA Investment Management LLC. Sells 21,602 Shares of Highwoods Properties, Inc. (NYSE:HIW)

CORDA Investment Management LLC. trimmed its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 855,329 shares of the real estate investment trust’s stock after selling 21,602 shares during the quarter. Highwoods Properties accounts for approximately 2.2% of CORDA Investment Management LLC.’s holdings, making the stock its 23rd largest position. CORDA Investment Management LLC.’s holdings in Highwoods Properties were worth $28,662,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIW. PGGM Investments lifted its holdings in shares of Highwoods Properties by 77.9% during the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after buying an additional 1,589,730 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Highwoods Properties by 86.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock valued at $30,813,000 after buying an additional 545,066 shares during the period. M&G Plc bought a new position in shares of Highwoods Properties during the 1st quarter valued at $10,047,000. Lasalle Investment Management Securities LLC bought a new position in shares of Highwoods Properties during the 1st quarter valued at $8,444,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Highwoods Properties by 245.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust’s stock valued at $11,283,000 after buying an additional 306,265 shares during the period. 96.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird upped their price objective on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company upped their price objective on Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and upped their price objective for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. Finally, Truist Financial upped their price objective on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Highwoods Properties presently has a consensus rating of “Hold” and a consensus price target of $28.83.

Highwoods Properties Trading Down 2.7 %

Shares of HIW stock opened at $32.64 on Monday. Highwoods Properties, Inc. has a 52-week low of $17.17 and a 52-week high of $36.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $3.46 billion, a PE ratio of 24.36 and a beta of 1.26. The stock has a fifty day simple moving average of $33.31 and a two-hundred day simple moving average of $29.42.

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

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 6.13%. Highwoods Properties’s payout ratio is 149.25%.

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.