PNC Financial Services Group Inc. Cuts Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

PNC Financial Services Group Inc. trimmed its holdings in shares of Highwoods Properties, Inc. (NYSE:HIWFree Report) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,376 shares of the real estate investment trust’s stock after selling 1,993 shares during the period. PNC Financial Services Group Inc.’s holdings in Highwoods Properties were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Highwoods Properties during the fourth quarter valued at about $31,000. Planned Solutions Inc. purchased a new stake in Highwoods Properties during the fourth quarter valued at about $38,000. GAMMA Investing LLC purchased a new stake in Highwoods Properties during the fourth quarter valued at about $53,000. Quent Capital LLC boosted its position in Highwoods Properties by 875.4% during the fourth quarter. Quent Capital LLC now owns 4,721 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 4,237 shares during the period. Finally, Quadrant Capital Group LLC boosted its position in Highwoods Properties by 18.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,450 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 857 shares during the period. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HIW has been the subject of a number of analyst reports. Truist Financial increased their target price on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Robert W. Baird increased their target price on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley increased their target price on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $24.75.

Check Out Our Latest Stock Report on Highwoods Properties

Highwoods Properties Price Performance

HIW stock opened at $25.35 on Friday. Highwoods Properties, Inc. has a 1 year low of $17.06 and a 1 year high of $28.45. The company has a market cap of $2.69 billion, a P/E ratio of 20.78 and a beta of 1.22. The firm has a 50-day moving average of $25.63 and a 200 day moving average of $23.81. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.34 and a quick ratio of 1.34.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.89%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties’s payout ratio is currently 163.93%.

Highwoods Properties Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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