Bank of New York Mellon Corp increased its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,541,986 shares of the real estate investment trust's stock after acquiring an additional 290,356 shares during the quarter. Bank of New York Mellon Corp owned about 1.45% of Highwoods Properties worth $47,154,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HIW. Hardman Johnston Global Advisors LLC lifted its position in Highwoods Properties by 26.0% during the fourth quarter. Hardman Johnston Global Advisors LLC now owns 9,700 shares of the real estate investment trust's stock valued at $297,000 after buying an additional 2,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Highwoods Properties during the fourth quarter valued at $500,000. Allianz Asset Management GmbH lifted its position in Highwoods Properties by 55.9% during the fourth quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust's stock valued at $38,762,000 after buying an additional 454,670 shares during the period. Wolverine Asset Management LLC purchased a new position in Highwoods Properties during the fourth quarter valued at $768,000. Finally, Hussman Strategic Advisors Inc. purchased a new position in Highwoods Properties during the fourth quarter valued at $642,000. Hedge funds and other institutional investors own 96.31% of the company's stock.
Analysts Set New Price Targets
HIW has been the subject of several analyst reports. StockNews.com upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday. Mizuho raised their price target on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Truist Financial reduced their price target on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price target on Highwoods Properties from $35.00 to $31.00 and set a "hold" rating for the company in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $30.71.
View Our Latest Analysis on Highwoods Properties
Highwoods Properties Stock Performance
NYSE HIW traded up $0.96 during trading hours on Friday, hitting $29.45. The company's stock had a trading volume of 1,509,881 shares, compared to its average volume of 993,470. Highwoods Properties, Inc. has a 12 month low of $23.52 and a 12 month high of $36.78. The company's 50 day simple moving average is $29.37 and its two-hundred day simple moving average is $31.43. The company has a market cap of $3.17 billion, a P/E ratio of 31.00 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 (NYSE:HIW - Get Free Report) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. As a group, sell-side analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.
Highwoods Properties Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.00 annualized dividend and a yield of 6.79%. Highwoods Properties's payout ratio 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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