UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 663,408 shares of the real estate investment trust’s stock after selling 40,360 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.60% of Highwoods Properties worth $20,008,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Highwoods Properties in the 2nd quarter worth approximately $633,717,000. State Street Corp increased its stake in shares of Highwoods Properties by 1.2% in the fourth quarter. State Street Corp now owns 6,699,130 shares of the real estate investment trust’s stock worth $172,972,000 after acquiring an additional 81,348 shares during the period. Aew Capital Management L P increased its stake in shares of Highwoods Properties by 3.8% in the fourth quarter. Aew Capital Management L P now owns 2,433,243 shares of the real estate investment trust’s stock worth $62,826,000 after acquiring an additional 88,672 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Highwoods Properties by 0.7% during the third quarter. Daiwa Securities Group Inc. now owns 2,205,348 shares of the real estate investment trust’s stock worth $70,174,000 after purchasing an additional 14,410 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Highwoods Properties by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,149,230 shares of the real estate investment trust’s stock valued at $55,503,000 after purchasing an additional 16,327 shares during the period. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
Highwoods Properties Trading Up 0.7%
Shares of NYSE:HIW opened at $31.22 on Friday. Highwoods Properties, Inc. has a 1 year low of $20.45 and a 1 year high of $35.44. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 20.54 and a beta of 1.05. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.68 and a quick ratio of 1.68. The business’s 50 day moving average price is $31.90 and its 200-day moving average price is $27.10.
Highwoods Properties Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a $0.50 dividend. The ex-dividend date is Monday, August 17th. This represents a $2.00 annualized dividend and a dividend yield of 6.4%. Highwoods Properties’s dividend payout ratio (DPR) is 131.58%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Truist Financial lifted their price objective on Highwoods Properties from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Morgan Stanley increased their price target on shares of Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company raised their price target on shares of Highwoods Properties from $26.00 to $32.00 and gave the company an “equal weight” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Highwoods Properties currently has a consensus rating of “Hold” and a consensus target price of $32.33.
Get Our Latest Research Report on HIW
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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