Wells Fargo & Company MN Has $4 Million Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Wells Fargo & Company MN cut its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 19.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,743 shares of the real estate investment trust's stock after selling 32,571 shares during the period. Wells Fargo & Company MN owned about 0.12% of Highwoods Properties worth $3,998,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Highwoods Properties in the fourth quarter worth approximately $32,727,000. Aew Capital Management L P bought a new stake in Highwoods Properties in the fourth quarter worth $31,250,000. Franklin Resources Inc. increased its position in 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 worth $107,155,000 after buying an additional 908,401 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 buying an additional 556,828 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Highwoods Properties by 55.9% during the 4th 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 acquiring an additional 454,670 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Price Performance

NYSE:HIW traded down $0.12 during trading hours on Friday, reaching $28.18. The company had a trading volume of 341,790 shares, compared to its average volume of 911,120. The firm has a market capitalization of $3.04 billion, a PE ratio of 29.68 and a beta of 1.15. The stock has a 50-day moving average of $28.27 and a two-hundred day moving average of $30.34. Highwoods Properties, Inc. has a one year low of $24.07 and a one year high of $36.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued 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%. Analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.10%. The ex-dividend date is Monday, May 19th. Highwoods Properties's dividend payout ratio (DPR) is presently 210.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HIW. Truist Financial decreased their target price on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a report on Thursday, April 3rd. Jefferies Financial Group began coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $32.00 price objective on the stock. Finally, Mizuho increased their target price on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $32.50.

Highwoods Properties 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.