DekaBank Deutsche Girozentrale Reduces Holdings in Highwoods Properties, Inc. (NYSE:HIW)

DekaBank Deutsche Girozentrale lowered its position in Highwoods Properties, Inc. (NYSE:HIW) by 7.8% during the 4th quarter, HoldingsChannel reports. The fund owned 120,419 shares of the real estate investment trust’s stock after selling 10,258 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Highwoods Properties were worth $2,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HIW. Norges Bank purchased a new position in Highwoods Properties during the 4th quarter valued at about $33,512,000. Vanguard Group Inc. increased its position in Highwoods Properties by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock valued at $358,017,000 after purchasing an additional 1,139,688 shares during the period. Franklin Resources Inc. increased its position in Highwoods Properties by 316.6% during the 1st quarter. Franklin Resources Inc. now owns 1,161,393 shares of the real estate investment trust’s stock valued at $26,933,000 after purchasing an additional 882,638 shares during the period. Balyasny Asset Management L.P. increased its position in Highwoods Properties by 4,897.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 843,120 shares of the real estate investment trust’s stock valued at $19,552,000 after purchasing an additional 826,250 shares during the period. Finally, State Street Corp increased its position in Highwoods Properties by 14.0% during the 1st quarter. State Street Corp now owns 6,343,699 shares of the real estate investment trust’s stock valued at $290,161,000 after purchasing an additional 781,475 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on HIW shares. Robert W. Baird raised their target price on shares of Highwoods Properties from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley raised their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, March 28th. Truist Financial raised their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Highwoods Properties in a report on Tuesday, January 30th. They issued a “buy” rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.38.

Highwoods Properties Stock Down 2.6 %

HIW stock opened at $24.46 on Friday. The firm has a 50 day moving average of $24.38 and a 200 day moving average of $21.99. The stock has a market capitalization of $2.59 billion, a PE ratio of 17.60 and a beta of 1.23. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33. Highwoods Properties, Inc. has a 52 week low of $17.06 and a 52 week high of $26.27.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.18%. The ex-dividend date of this dividend was Friday, February 16th. Highwoods Properties’s dividend payout ratio (DPR) is presently 143.89%.

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.