Resona Asset Management Co. Ltd. Acquires Shares of 42,051 Highwoods Properties, Inc. (NYSE:HIW)

Resona Asset Management Co. Ltd. purchased a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,051 shares of the real estate investment trust's stock, valued at approximately $1,277,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Highwoods Properties by 12.0% during the 4th quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 327 shares in the last quarter. Everhart Financial Group Inc. raised its position in shares of Highwoods Properties by 6.0% during the 4th quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust's stock worth $358,000 after purchasing an additional 660 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 675 shares in the last quarter. M&T Bank Corp increased its stake in Highwoods Properties by 3.7% in the third quarter. M&T Bank Corp now owns 19,141 shares of the real estate investment trust's stock valued at $642,000 after purchasing an additional 682 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Highwoods Properties by 26.1% in the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust's stock worth $126,000 after acquiring an additional 851 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Price Performance

Shares of Highwoods Properties stock traded up $0.27 during trading on Wednesday, hitting $27.75. The stock had a trading volume of 59,352 shares, compared to its average volume of 1,013,163. Highwoods Properties, Inc. has a fifty-two week low of $23.62 and a fifty-two week high of $36.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day moving average of $28.47 and a two-hundred day moving average of $30.58. The firm has a market cap of $2.99 billion, a P/E ratio of 29.21 and a beta of 1.15.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. On average, sell-side analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.21%. Highwoods Properties's payout ratio is currently 210.53%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HIW. StockNews.com cut Highwoods Properties from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Truist Financial reduced their price objective on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group assumed coverage on Highwoods Properties in a report on Monday, March 17th. They set a "buy" rating and a $32.00 target price for the company. Finally, Mizuho increased their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.50.

Highwoods Properties Company 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.