Van ECK Associates Corp Has $710,000 Stake in Highwoods Properties, Inc. (NYSE:HIW)

Van ECK Associates Corp grew its position in Highwoods Properties, Inc. (NYSE:HIW) by 10.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,856 shares of the real estate investment trust’s stock after purchasing an additional 1,914 shares during the quarter. Van ECK Associates Corp’s holdings in Highwoods Properties were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HIW. Abich Financial Wealth Management LLC increased its stake 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 valued at $49,000 after acquiring an additional 580 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of 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 last quarter. Blue Trust Inc. raised its holdings in shares of Highwoods Properties by 269.8% during the 3rd 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 in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Highwoods Properties during the 1st quarter worth $107,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Highwoods Properties by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 1,069 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Truist Financial increased 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. Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their target price for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. Robert W. Baird upped their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Highwoods Properties currently has a consensus rating of “Hold” and a consensus target price of $29.33.

Highwoods Properties Stock Down 1.8 %

Shares of NYSE:HIW opened at $33.19 on Tuesday. The business has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $29.82. Highwoods Properties, Inc. has a 12-month low of $17.17 and a 12-month high of $36.78. The firm has a market cap of $3.52 billion, a P/E ratio of 24.77 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 announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74). The company had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.93 earnings per share. Analysts predict that Highwoods Properties, Inc. will post 3.62 earnings per share for the current year.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 149.25%.

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.