Strs Ohio Sells 86,589 Shares of Highwoods Properties, Inc. $HIW

Strs Ohio lowered its stake in Highwoods Properties, Inc. (NYSE:HIW) by 51.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 82,035 shares of the real estate investment trust’s stock after selling 86,589 shares during the period. Strs Ohio’s holdings in Highwoods Properties were worth $2,610,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp grew its holdings in shares of Highwoods Properties by 5.0% in the second quarter. Truist Financial Corp now owns 9,146 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 434 shares during the last quarter. Samalin Investment Counsel LLC boosted its position in Highwoods Properties by 5.0% during the 3rd quarter. Samalin Investment Counsel LLC now owns 9,075 shares of the real estate investment trust’s stock valued at $289,000 after buying an additional 435 shares during the period. Amalgamated Bank grew its holdings in Highwoods Properties by 1.4% in the 3rd quarter. Amalgamated Bank now owns 32,927 shares of the real estate investment trust’s stock worth $1,048,000 after acquiring an additional 467 shares during the last quarter. GC Wealth Management RIA LLC grew its holdings in Highwoods Properties by 4.2% in the 2nd quarter. GC Wealth Management RIA LLC now owns 12,205 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 489 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Highwoods Properties by 0.5% in the second quarter. California State Teachers Retirement System now owns 98,051 shares of the real estate investment trust’s stock valued at $3,048,000 after acquiring an additional 489 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Highwoods Properties from $23.00 to $24.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. New Street Research set a $30.00 price objective on Highwoods Properties in a report on Monday, October 13th. Wall Street Zen upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Deutsche Bank Aktiengesellschaft upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Tuesday, January 6th. Finally, Wells Fargo & Company dropped their price target on Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.75.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $26.22 on Tuesday. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $32.76. The stock’s 50 day simple moving average is $26.55 and its two-hundred day simple moving average is $28.97. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.39 and a current ratio of 1.39. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 22.41 and a beta of 1.07.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. Highwoods Properties had a return on equity of 5.48% and a net margin of 15.98%.The firm had revenue of $201.77 million during the quarter, compared to analyst estimates of $205.74 million. During the same quarter in the prior year, the company earned $0.90 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. As a group, analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.