Strs Ohio boosted its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 75.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,185 shares of the real estate investment trust’s stock after acquiring an additional 81,397 shares during the period. Strs Ohio’s holdings in Highwoods Properties were worth $4,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Highwoods Properties in the 4th quarter worth approximately $26,251,000. GRS Advisors LLC increased its holdings in Highwoods Properties by 64.1% during the third quarter. GRS Advisors LLC now owns 2,046,809 shares of the real estate investment trust’s stock valued at $65,129,000 after buying an additional 799,339 shares during the period. Bayhunt Capital LLC purchased a new position in Highwoods Properties during the fourth quarter valued at approximately $13,125,000. Gotham Asset Management LLC raised its stake in Highwoods Properties by 88.1% in the third quarter. Gotham Asset Management LLC now owns 910,271 shares of the real estate investment trust’s stock worth $28,965,000 after buying an additional 426,241 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Highwoods Properties by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 16,903,497 shares of the real estate investment trust’s stock worth $436,448,000 after buying an additional 407,406 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.
Highwoods Properties Stock Up 0.3%
Shares of NYSE HIW traded up $0.10 during trading hours on Tuesday, hitting $32.08. 48,893 shares of the stock were exchanged, compared to its average volume of 1,555,372. The company has a market cap of $3.54 billion, a PE ratio of 38.18 and a beta of 1.07. Highwoods Properties, Inc. has a 12 month low of $20.45 and a 12 month high of $32.76. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $27.48 and a 200-day moving average price of $25.23.
Highwoods Properties declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 22nd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 9.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Highwoods Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Monday, May 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.2%. Highwoods Properties’s dividend payout ratio (DPR) is presently 238.10%.
Analysts Set New Price Targets
A number of research firms have weighed in on HIW. Weiss Ratings upgraded Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $28.00 price target on shares of Highwoods Properties in a report on Thursday, May 14th. Wells Fargo & Company upped their price objective on Highwoods Properties from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Morgan Stanley upgraded Highwoods Properties from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $24.00 to $23.00 in a research note on Tuesday, March 31st. Finally, Wall Street Zen upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Highwoods Properties has a consensus rating of “Hold” and an average target price of $28.11.
Get Our Latest Analysis on HIW
About Highwoods Properties
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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