ExodusPoint Capital Management LP lifted its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 138.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,499 shares of the real estate investment trust's stock after purchasing an additional 81,511 shares during the quarter. ExodusPoint Capital Management LP owned 0.13% of Highwoods Properties worth $4,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new position in Highwoods Properties in the 4th quarter worth about $32,727,000. Aew Capital Management L P purchased a new position in shares of Highwoods Properties during the fourth quarter valued at approximately $31,250,000. Franklin Resources Inc. raised its holdings in shares of Highwoods Properties by 40.9% during 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 purchasing an additional 908,401 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in 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. Finally, Allianz Asset Management GmbH boosted its holdings in Highwoods Properties by 55.9% in the fourth quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust's stock worth $38,762,000 after purchasing an additional 454,670 shares during the last quarter. 96.31% of the stock is owned by institutional investors.
Highwoods Properties Stock Performance
Shares of HIW stock traded up $0.30 during trading hours on Friday, reaching $26.38. 669,468 shares of the company traded hands, compared to its average volume of 916,767. The firm has a 50-day moving average price of $28.54 and a 200 day moving average price of $30.66. The company has a market cap of $2.84 billion, a P/E ratio of 27.77 and a beta of 1.15. 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 12-month low of $23.52 and a 12-month high of $36.78.
Highwoods Properties (NYSE:HIW - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting analysts' consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. As a group, sell-side analysts predict that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.
Highwoods Properties Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.58%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties's dividend payout ratio is currently 210.53%.
Analyst Upgrades and Downgrades
HIW has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They set a "buy" rating and a $32.00 target price for the company. Truist Financial lowered their target price on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Mizuho boosted their price target on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. Finally, StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $32.50.
Get Our Latest Analysis on HIW
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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