Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,752 shares of the real estate investment trust’s stock after purchasing an additional 4,227 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned approximately 0.06% of Highwoods Properties worth $1,476,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Highwoods Properties by 34.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 62,902 shares of the real estate investment trust’s stock valued at $1,504,000 after acquiring an additional 16,227 shares during the period. Edge Capital Group LLC bought a new position in shares of Highwoods Properties during the first quarter valued at $454,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of Highwoods Properties by 17.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 30,572 shares of the real estate investment trust’s stock valued at $709,000 after acquiring an additional 4,598 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Highwoods Properties by 141.7% during the second quarter. Quantinno Capital Management LP now owns 54,980 shares of the real estate investment trust’s stock valued at $1,315,000 after acquiring an additional 32,230 shares during the period. Finally, Inceptionr LLC bought a new position in shares of Highwoods Properties during the first quarter valued at $868,000. 96.31% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. Mizuho cut their price objective on Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Citigroup lifted their price target on Highwoods Properties from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. Wells Fargo & Company cut Highwoods Properties from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $27.00 to $22.00 in a report on Wednesday, August 30th. Bank of America cut Highwoods Properties from a “buy” rating to a “neutral” rating and cut their price target for the company from $29.00 to $20.00 in a report on Monday, November 13th. Finally, StockNews.com began coverage on Highwoods Properties in a report on Thursday, October 5th. They issued a “hold” rating for the company. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.
Highwoods Properties Price Performance
Shares of HIW stock opened at $18.71 on Monday. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 14.50 and a beta of 1.21. Highwoods Properties, Inc. has a 12 month low of $17.06 and a 12 month high of $31.88. The stock has a 50-day moving average price of $19.78 and a 200 day moving average price of $21.97. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.32.
Highwoods Properties Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 20th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 10.69%. Highwoods Properties’s payout ratio is currently 155.04%.
About Highwoods Properties
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.
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