Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Highwoods Properties, Inc. (NYSE:HIW – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 293,167 shares of the real estate investment trust’s stock, valued at approximately $7,570,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Highwoods Properties by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 772,326 shares of the real estate investment trust’s stock worth $24,575,000 after buying an additional 61,443 shares in the last quarter. Inscription Capital LLC grew its position in shares of Highwoods Properties by 185.1% during the 3rd quarter. Inscription Capital LLC now owns 40,370 shares of the real estate investment trust’s stock worth $1,285,000 after buying an additional 26,211 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Highwoods Properties by 3.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,302,750 shares of the real estate investment trust’s stock worth $200,554,000 after buying an additional 205,761 shares in the last quarter. Bayhunt Capital LLC bought a new position in shares of Highwoods Properties during the 4th quarter worth $13,125,000. Finally, Aew Capital Management L P boosted its position in Highwoods Properties by 95.4% during the third quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock valued at $74,604,000 after purchasing an additional 1,144,991 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.
Highwoods Properties Price Performance
Shares of HIW stock opened at $25.20 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $2.78 billion, a P/E ratio of 30.00 and a beta of 1.08. The stock’s 50-day moving average is $23.01 and its 200 day moving average is $25.00. Highwoods Properties, Inc. has a 1-year low of $20.45 and a 1-year high of $32.76.
Highwoods Properties Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Monday, May 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.9%. The ex-dividend date of this dividend is Monday, May 18th. Highwoods Properties’s dividend payout ratio (DPR) is currently 238.10%.
Highwoods Properties announced that its Board of Directors has authorized a stock repurchase program on Wednesday, April 22nd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on HIW. Mizuho dropped their price objective on Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Robert W. Baird set a $29.00 price objective on Highwoods Properties in a research report on Wednesday, February 25th. Citigroup dropped their price objective on Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Morgan Stanley raised Highwoods Properties from an “underweight” rating to an “equal weight” rating and dropped their price objective for the company from $24.00 to $23.00 in a research report on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus price target of $27.78.
View Our Latest Stock Report on Highwoods Properties
Highwoods Properties Profile
Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.
Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.
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