Oak Thistle LLC Makes New $924,000 Investment in Highwoods Properties, Inc. (NYSE:HIW)

Oak Thistle LLC bought a new stake in Highwoods Properties, Inc. (NYSE:HIW) during the first quarter, Holdings Channel reports. The institutional investor bought 31,158 shares of the real estate investment trust’s stock, valued at approximately $924,000.

A number of other large investors also recently made changes to their positions in HIW. POM Investment Strategies LLC acquired a new position in Highwoods Properties during the first quarter worth $28,000. GF Fund Management CO. LTD. acquired a new position in shares of Highwoods Properties during the 4th quarter valued at about $59,000. Spirit of America Management Corp NY acquired a new position in shares of Highwoods Properties during the 1st quarter valued at about $59,000. State of Wyoming raised its stake in shares of Highwoods Properties by 88.4% in the 4th quarter. State of Wyoming now owns 3,137 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 1,472 shares in the last quarter. Finally, FIL Ltd raised its position in shares of Highwoods Properties by 26.8% in the fourth quarter. FIL Ltd now owns 3,744 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 791 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Price Performance

NYSE HIW opened at $30.86 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. Highwoods Properties, Inc. has a 52-week low of $24.19 and a 52-week high of $36.78. The business has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $29.45. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 19.17 and a beta of 1.21.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. The company had revenue of $200.38 million during the quarter, compared to analysts’ expectations of $201.31 million. Highwoods Properties had a net margin of 21.53% and a return on equity of 7.43%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. Analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, May 19th. Mizuho lifted their target price on Highwoods Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Truist Financial downgraded Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Highwoods Properties currently has a consensus rating of “Hold” and a consensus target price of $32.00.

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.