New Age Alpha Advisors LLC bought a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,635 shares of the real estate investment trust's stock, valued at approximately $509,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp lifted its stake in Highwoods Properties by 1.7% in the third quarter. State Street Corp now owns 7,289,806 shares of the real estate investment trust's stock valued at $244,281,000 after purchasing an additional 124,646 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Highwoods Properties by 40.9% in the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust's stock valued at $107,155,000 after buying an additional 908,401 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Highwoods Properties by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust's stock worth $65,235,000 after acquiring an additional 71,670 shares during the last quarter. Geode Capital Management LLC raised its stake in Highwoods Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust's stock valued at $63,754,000 after acquiring an additional 12,958 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Highwoods Properties by 23.2% during the fourth quarter. Bank of New York Mellon Corp now owns 1,541,986 shares of the real estate investment trust's stock valued at $47,154,000 after purchasing an additional 290,356 shares during the last quarter. 96.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have 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 target price for the company. StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a report on Thursday. Truist Financial dropped their target price on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, Mizuho lifted their price target on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.50.
Get Our Latest Analysis on Highwoods Properties
Highwoods Properties Price Performance
NYSE:HIW traded down $0.77 during trading hours on Friday, hitting $27.14. The stock had a trading volume of 1,558,764 shares, compared to its average volume of 910,749. The company has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $30.98. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 28.57 and a beta of 1.25. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25. Highwoods Properties, Inc. has a one year low of $23.52 and a one year high of $36.78.
Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. Research analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.
Highwoods Properties Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.37%. The ex-dividend date of this dividend was Tuesday, February 18th. Highwoods Properties's dividend payout ratio (DPR) is 210.53%.
About Highwoods Properties
(
Free Report)
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.
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