Envestnet Asset Management Inc. lifted its position in Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 119.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 190,067 shares of the real estate investment trust’s stock after acquiring an additional 103,566 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Highwoods Properties worth $4,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in HIW. Quarry LP purchased a new stake in Highwoods Properties in the first quarter valued at $27,000. CENTRAL TRUST Co boosted its stake in shares of Highwoods Properties by 76.6% during the 3rd quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 475 shares in the last quarter. Ellevest Inc. boosted its stake in shares of Highwoods Properties by 89.9% during the 1st quarter. Ellevest Inc. now owns 2,078 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 984 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Highwoods Properties by 20,800.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,090 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 2,080 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in shares of Highwoods Properties by 165.3% during the 2nd quarter. Quantbot Technologies LP now owns 2,181 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 1,359 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
HIW has been the topic of several recent analyst reports. Mizuho lowered their target price on shares of Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. StockNews.com initiated coverage on shares of Highwoods Properties in a research report on Thursday, October 5th. They set a “hold” rating for the company. Bank of America downgraded shares of Highwoods Properties from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $20.00 in a research report on Monday, November 13th. Wells Fargo & Company downgraded shares of Highwoods Properties from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $27.00 to $22.00 in a report on Wednesday, August 30th. Finally, Citigroup increased their price objective on shares of Highwoods Properties from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Highwoods Properties Stock Up 0.7 %
Shares of NYSE HIW opened at $18.84 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $1.99 billion, a P/E ratio of 14.60 and a beta of 1.21. The company has a 50 day simple moving average of $19.70 and a 200-day simple moving average of $21.95. Highwoods Properties, Inc. has a 1 year low of $17.06 and a 1 year high of $31.88.
Highwoods Properties Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 20th will be given a $0.50 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.00 annualized dividend and a yield of 10.62%. Highwoods Properties’s dividend payout ratio is presently 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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