State of New Jersey Common Pension Fund D Makes New $2.09 Million Investment in Highwoods Properties, Inc. (NYSE:HIW)

State of New Jersey Common Pension Fund D acquired a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 62,220 shares of the real estate investment trust's stock, valued at approximately $2,085,000. State of New Jersey Common Pension Fund D owned 0.06% of Highwoods Properties at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Abich Financial Wealth Management LLC boosted its stake in Highwoods Properties by 45.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 580 shares during the period. Versant Capital Management Inc lifted its stake in Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in Highwoods Properties during the 1st quarter worth approximately $107,000. Blue Trust Inc. lifted its position in shares of Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust's stock worth $108,000 after purchasing an additional 2,350 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Highwoods Properties by 11.7% during the second quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust's stock worth $110,000 after purchasing an additional 440 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HIW has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and boosted their price target for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Robert W. Baird boosted their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Highwoods Properties currently has an average rating of "Hold" and a consensus price target of $31.20.

Highwoods Properties Trading Down 0.5 %

Shares of NYSE:HIW traded down $0.16 during midday trading on Friday, reaching $31.66. The company's stock had a trading volume of 835,602 shares, compared to its average volume of 1,002,106. The firm has a 50 day moving average price of $33.51 and a two-hundred day moving average price of $29.93. Highwoods Properties, Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $36.78. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 23.61 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. The firm's revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 earnings per share. As a group, analysts forecast that Highwoods Properties, Inc. will post 3.62 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties's dividend payout ratio is currently 149.25%.

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.