Resurgent Financial Advisors LLC Sells 800 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Resurgent Financial Advisors LLC trimmed its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 4.9% during the 4th quarter, Holdings Channel reports. The firm owned 15,461 shares of the real estate investment trust’s stock after selling 800 shares during the period. Resurgent Financial Advisors LLC’s holdings in Highwoods Properties were worth $473,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Highwoods Properties in the 4th quarter worth $32,727,000. Aew Capital Management L P bought a new position in shares of Highwoods Properties in the fourth quarter worth about $31,250,000. Franklin Resources Inc. grew its position in shares of Highwoods Properties by 40.9% during the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after purchasing an additional 908,401 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Highwoods Properties by 20.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock valued at $99,869,000 after purchasing an additional 556,828 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Highwoods Properties by 55.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust’s stock worth $38,762,000 after purchasing an additional 454,670 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HIW. Jefferies Financial Group began coverage on shares of Highwoods Properties in a report on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. Mizuho raised their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. StockNews.com cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Thursday, April 3rd. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.50.

Highwoods Properties Trading Up 1.3 %

HIW stock opened at $27.49 on Wednesday. The firm has a market cap of $2.96 billion, a PE ratio of 28.94 and a beta of 1.15. The firm has a fifty day moving average price of $28.47 and a 200 day moving average price of $30.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. Highwoods Properties, Inc. has a fifty-two week low of $23.52 and a fifty-two week high of $36.78.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a yield of 7.27%. Highwoods Properties’s dividend payout ratio (DPR) is presently 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.