Mirae Asset Global Investments Co. Ltd. Acquires 33,719 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Highwoods Properties, Inc. (NYSE:HIWFree Report) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,447 shares of the real estate investment trust’s stock after purchasing an additional 33,719 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.32% of Highwoods Properties worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HIW. PGGM Investments acquired a new position in Highwoods Properties in the 4th quarter valued at $46,833,000. Franklin Resources Inc. grew its stake in Highwoods Properties by 42.0% in the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock valued at $105,952,000 after buying an additional 1,364,176 shares during the last quarter. Vanguard Group Inc. grew its position in Highwoods Properties by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock worth $358,017,000 after purchasing an additional 1,139,688 shares during the last quarter. Norges Bank acquired a new stake in Highwoods Properties in the 4th quarter worth $24,306,000. Finally, Allianz Asset Management GmbH grew its position in Highwoods Properties by 402.4% in the 4th quarter. Allianz Asset Management GmbH now owns 485,191 shares of the real estate investment trust’s stock worth $11,140,000 after purchasing an additional 388,617 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HIW has been the topic of several research analyst reports. Morgan Stanley raised their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Highwoods Properties currently has a consensus rating of “Hold” and an average target price of $24.75.

Check Out Our Latest Research Report on HIW

Highwoods Properties Price Performance

NYSE:HIW opened at $26.32 on Tuesday. The company has a 50-day moving average of $26.04 and a 200-day moving average of $24.67. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 21.57 and a beta of 1.27. Highwoods Properties, Inc. has a 52 week low of $17.06 and a 52 week high of $28.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.34 and a current ratio of 1.34.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.60%. The ex-dividend date of this dividend was Friday, May 17th. Highwoods Properties’s payout ratio is 163.93%.

Highwoods Properties 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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