Summit Financial LLC Invests $230,000 in Highwoods Properties, Inc. (NYSE:HIW)

Summit Financial LLC purchased a new position in Highwoods Properties, Inc. (NYSE:HIW) during the 4th quarter, Holdings Channel.com reports. The firm purchased 7,510 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other large investors also recently bought and sold shares of the business. US Bancorp DE grew its stake in shares of Highwoods Properties by 72.6% in the 4th quarter. US Bancorp DE now owns 21,956 shares of the real estate investment trust’s stock worth $671,000 after buying an additional 9,235 shares in the last quarter. Point72 Asset Management L.P. grew its position in Highwoods Properties by 436.3% in the third quarter. Point72 Asset Management L.P. now owns 215,724 shares of the real estate investment trust’s stock worth $7,229,000 after acquiring an additional 175,499 shares in the last quarter. B&I Capital AG increased its stake in Highwoods Properties by 111.7% during the fourth quarter. B&I Capital AG now owns 262,500 shares of the real estate investment trust’s stock worth $8,027,000 after acquiring an additional 138,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Highwoods Properties by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock valued at $65,235,000 after purchasing an additional 71,670 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Highwoods Properties by 65.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 2,587 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

HIW has been the topic of several analyst reports. Mizuho boosted their target price on Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. StockNews.com lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial cut their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group initiated coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Highwoods Properties currently has a consensus rating of “Hold” and a consensus target price of $32.50.

Highwoods Properties Trading Down 2.8 %

NYSE:HIW opened at $27.14 on Friday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 28.57 and a beta of 1.25. Highwoods Properties, Inc. has a 52 week low of $23.52 and a 52 week high of $36.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average of $28.99 and a 200 day moving average of $31.00.

Highwoods Properties (NYSE:HIW) last issued 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 return on equity of 4.33% and a net margin of 12.37%. As a group, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.37%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties’s dividend payout ratio 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.