CORDA Investment Management LLC. Cuts Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

CORDA Investment Management LLC. cut its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 851,676 shares of the real estate investment trust’s stock after selling 3,653 shares during the quarter. Highwoods Properties makes up about 2.1% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 26th biggest position. CORDA Investment Management LLC.’s holdings in Highwoods Properties were worth $26,044,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HIW. Oppenheimer & Co. Inc. raised its stake in Highwoods Properties by 184.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 27,048 shares of the real estate investment trust’s stock valued at $906,000 after purchasing an additional 17,548 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in Highwoods Properties during the 3rd quarter valued at approximately $2,085,000. Point72 Asset Management L.P. raised its position in shares of Highwoods Properties by 436.3% during the third quarter. Point72 Asset Management L.P. now owns 215,724 shares of the real estate investment trust’s stock valued at $7,229,000 after buying an additional 175,499 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Highwoods Properties by 65.1% in the third quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 2,587 shares in the last quarter. Finally, Harvest Portfolios Group Inc. boosted its position in shares of Highwoods Properties by 141.2% during the third quarter. Harvest Portfolios Group Inc. now owns 36,647 shares of the real estate investment trust’s stock worth $1,228,000 after acquiring an additional 21,455 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Price Performance

Shares of HIW opened at $28.82 on Friday. The company has a 50 day moving average of $29.55 and a two-hundred day moving average of $31.53. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 30.33 and a beta of 1.24. 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, Inc. has a twelve month low of $23.35 and a twelve month high of $36.78.

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

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.94%. Highwoods Properties’s payout ratio is currently 210.53%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company increased their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Jefferies Financial Group reduced their price objective on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. StockNews.com downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Robert W. Baird raised their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Highwoods Properties presently has a consensus rating of “Hold” and an average target price of $30.71.

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.