Kovack Advisors Inc. Sells 1,882 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Kovack Advisors Inc. lessened its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 13.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,481 shares of the real estate investment trust’s stock after selling 1,882 shares during the quarter. Kovack Advisors Inc.’s holdings in Highwoods Properties were worth $418,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HIW. Abich Financial Wealth Management LLC boosted its holdings in Highwoods Properties by 45.5% in the first quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 580 shares in the last quarter. Versant Capital Management Inc grew its position in Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,214 shares during the period. Pathway Financial Advisers LLC bought a new stake in Highwoods Properties during the 1st quarter valued at $107,000. Blue Trust Inc. raised its holdings in Highwoods Properties by 269.8% during the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 2,350 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Highwoods Properties by 55.8% during the third quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,167 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Trading Down 1.2 %

NYSE HIW opened at $31.82 on Friday. The business’s fifty day moving average is $33.51 and its 200-day moving average is $29.89. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 23.75 and a beta of 1.26. Highwoods Properties, Inc. has a one year low of $17.58 and a one year high of $36.78.

Highwoods Properties (NYSE:HIW) last posted 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). The firm had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Equities research analysts predict that Highwoods Properties, Inc. will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.29%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s dividend payout ratio is 149.25%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HIW shares. Truist Financial upped their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company upped their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and raised their price objective for the company from $31.00 to $35.00 in a research note on Tuesday, October 1st. Finally, Robert W. Baird upped their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.20.

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.