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

Kovack Advisors Inc. decreased its stake in Highwoods Properties, Inc. (NYSE:HIW) by 13.1% in the 3rd quarter, according to its most recent 13F 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 period. Kovack Advisors Inc.’s holdings in Highwoods Properties were worth $418,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PGGM Investments grew its stake in Highwoods Properties by 77.9% in the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after purchasing an additional 1,589,730 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Highwoods Properties by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,611 shares of the real estate investment trust’s stock worth $40,233,000 after acquiring an additional 36,285 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock valued at $32,251,000 after acquiring an additional 56,399 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Highwoods Properties by 86.8% in 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 acquiring an additional 545,066 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Highwoods Properties by 7.4% in the 2nd quarter. Victory Capital Management Inc. now owns 848,653 shares of the real estate investment trust’s stock valued at $22,294,000 after purchasing an additional 58,634 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of HIW opened at $31.82 on Friday. The business has a 50-day simple moving average of $33.51 and a two-hundred day simple moving average of $29.89. Highwoods Properties, Inc. has a 12-month low of $17.58 and a 12-month high of $36.78. The stock has a market cap of $3.37 billion, a PE ratio of 23.75 and a beta of 1.26. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data 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 net margin of 17.40% and a return on equity of 6.05%. The business had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same quarter last year, the business earned $0.93 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.29%. Highwoods Properties’s dividend payout ratio (DPR) is presently 149.25%.

Wall Street Analysts Forecast Growth

HIW has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and lifted their price target for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. Wells Fargo & Company increased their target price on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Finally, Truist Financial boosted their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.