Rialto Wealth Management LLC Makes New Investment in Highwoods Properties, Inc. (NYSE:HIW)

Rialto Wealth Management LLC purchased a new stake in Highwoods Properties, Inc. (NYSE:HIW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 60,574 shares of the real estate investment trust’s stock, valued at approximately $1,852,000. Rialto Wealth Management LLC owned about 0.06% of Highwoods Properties as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in Highwoods Properties by 131.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after purchasing an additional 1,536,067 shares during the last quarter. Aew Capital Management L P acquired a new position in shares of Highwoods Properties during the fourth quarter worth $31,250,000. Franklin Resources Inc. lifted its stake in shares of Highwoods Properties by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock valued at $107,155,000 after acquiring an additional 908,401 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Highwoods Properties by 472.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 885,541 shares of the real estate investment trust’s stock valued at $29,674,000 after acquiring an additional 730,859 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its position in Highwoods Properties by 55.9% during the 4th quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust’s stock worth $38,762,000 after acquiring an additional 454,670 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

NYSE:HIW opened at $29.45 on Friday. The company has a market capitalization of $3.17 billion, a PE ratio of 31.00 and a beta of 1.24. Highwoods Properties, Inc. has a fifty-two week low of $23.52 and a fifty-two week high of $36.78. 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 $29.39 and a two-hundred day simple moving average of $31.44.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.79%. The ex-dividend date of this dividend is Tuesday, February 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 210.53%.

Wall Street Analyst Weigh In

HIW has been the subject of several research reports. Truist Financial dropped their target price on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group dropped their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Mizuho boosted their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.71.

Highwoods Properties 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.