Quantinno Capital Management LP Raises Stake in Highwoods Properties, Inc. (NYSE:HIW)

Quantinno Capital Management LP grew its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 31.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,740 shares of the real estate investment trust’s stock after purchasing an additional 79,256 shares during the quarter. Quantinno Capital Management LP owned approximately 0.31% of Highwoods Properties worth $10,114,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of Highwoods Properties by 20.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock valued at $99,869,000 after purchasing an additional 556,828 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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. Northern Trust Corp lifted its stake in Highwoods Properties by 29.0% in the fourth quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust’s stock worth $56,721,000 after acquiring an additional 416,791 shares during the period. Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 23.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust’s stock worth $47,154,000 after acquiring an additional 290,356 shares during the period. Finally, Sei Investments Co. lifted its stake in Highwoods Properties by 32.2% in the fourth quarter. Sei Investments Co. now owns 1,328,543 shares of the real estate investment trust’s stock worth $40,627,000 after acquiring an additional 323,946 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on HIW. Jefferies Financial Group began 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. Truist Financial lowered their price objective on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus price target of $32.50.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock opened at $30.00 on Thursday. The company has a market capitalization of $3.23 billion, a PE ratio of 31.58 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day simple moving average of $28.34 and a two-hundred day simple moving average of $29.80. Highwoods Properties, Inc. has a one year low of $24.07 and a one year high of $36.78.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $200.38 million during the quarter, compared to the consensus estimate of $201.31 million. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. The firm’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. Research analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.67%. Highwoods Properties’s payout ratio is 124.22%.

About Highwoods Properties

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.