Ethic Inc. Makes New $1.06 Million Investment in Highwoods Properties, Inc. $HIW

Ethic Inc. bought a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,583 shares of the real estate investment trust’s stock, valued at approximately $1,062,000.

A number of other large investors also recently modified their holdings of the company. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Highwoods Properties in the third quarter worth about $28,000. Elevation Wealth Partners LLC boosted its position in Highwoods Properties by 752.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 940 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Highwoods Properties in the second quarter worth $34,000. Allworth Financial LP purchased a new position in shares of Highwoods Properties in the second quarter worth $38,000. Finally, Nykredit A S purchased a new stake in Highwoods Properties in the second quarter worth approximately $66,000. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Trading Up 0.4%

NYSE HIW opened at $31.07 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $30.19 and a 200 day moving average price of $27.74. The stock has a market capitalization of $3.43 billion, a P/E ratio of 18.38 and a beta of 1.08. Highwoods Properties, Inc. has a 52-week low of $20.45 and a 52-week high of $35.44.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. The company had revenue of $218.18 million during the quarter, compared to analysts’ expectations of $216.39 million. Highwoods Properties had a net margin of 22.56% and a return on equity of 7.68%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. Equities research analysts expect that Highwoods Properties, Inc. will post 3.57 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Monday, November 16th. Highwoods Properties’s dividend payout ratio is 118.34%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HIW shares. Deutsche Bank lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a report on Wednesday, August 5th. Huntington began coverage on shares of Highwoods Properties in a research report on Wednesday, October 28th. They issued a “hold” rating for the company. Morgan Stanley raised their price objective on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. Citigroup upped their price objective on shares of Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Mizuho set a $32.00 price target on Highwoods Properties in a research report on Tuesday, September 8th. Eight research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Highwoods Properties currently has a consensus rating of “Hold” and an average target price of $32.00.

Highwoods Properties Company Profile

Highwoods Properties, Inc. is a real estate investment trust that owns, develops, leases and manages office properties. Its portfolio is concentrated in business districts across the U.S. Sun Belt, including markets such as Atlanta, Charlotte, Nashville, Raleigh and Tampa. The company provides office space and related property management services to businesses across a range of industries. Its work includes developing and maintaining properties as well as leasing space to commercial tenants. Highwoods is headquartered in Raleigh, North Carolina.