Arizona State Retirement System Sells 486 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Arizona State Retirement System decreased its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,541 shares of the real estate investment trust’s stock after selling 486 shares during the quarter. Arizona State Retirement System’s holdings in Highwoods Properties were worth $678,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Quent Capital LLC lifted its position in shares of Highwoods Properties by 875.4% in the fourth quarter. Quent Capital LLC now owns 4,721 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 4,237 shares in the last quarter. Chilton Capital Management LLC grew its position in shares of Highwoods Properties by 12.8% during the fourth quarter. Chilton Capital Management LLC now owns 451,435 shares of the real estate investment trust’s stock worth $10,365,000 after purchasing an additional 51,367 shares in the last quarter. Planned Solutions Inc. bought a new stake in Highwoods Properties during the 4th quarter valued at approximately $38,000. Raymond James & Associates lifted its holdings in Highwoods Properties by 4.1% in the 4th quarter. Raymond James & Associates now owns 13,731 shares of the real estate investment trust’s stock worth $315,000 after purchasing an additional 536 shares in the last quarter. Finally, Pasadena Private Wealth LLC purchased a new position in Highwoods Properties in the 4th quarter worth approximately $549,000. Institutional investors own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

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

Highwoods Properties Stock Up 0.6 %

Shares of NYSE:HIW opened at $23.96 on Friday. The company has a 50-day moving average price of $24.49 and a 200 day moving average price of $22.09. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.33. Highwoods Properties, Inc. has a 12 month low of $17.06 and a 12 month high of $26.27. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 17.24 and a beta of 1.23.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date is Friday, May 17th. Highwoods Properties’s dividend payout ratio (DPR) is 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.