Highwoods Properties, Inc. (NYSE:HIW) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Highwoods Properties by 54.3% during the first quarter, now holding $17.17 million worth of shares, reflecting a significant divestment.
• Highwoods Properties has recently received a mix of ratings from analysts, with a consensus rating of "Hold" and a target price of $32.00.
• The company announced a quarterly dividend of $0.50, representing an annual yield of 6.62%, while also reporting a 124.22% dividend payout ratio.

Allianz Asset Management GmbH trimmed its position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 54.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 579,127 shares of the real estate investment trust's stock after selling 688,426 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.54% of Highwoods Properties worth $17,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HIW. Wealth Enhancement Advisory Services LLC increased its holdings in Highwoods Properties by 5.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 383 shares in the last quarter. GAMMA Investing LLC increased its holdings in Highwoods Properties by 10.3% in the 1st quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust's stock worth $156,000 after acquiring an additional 493 shares in the last quarter. Cerity Partners LLC increased its holdings in Highwoods Properties by 3.4% in the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock worth $507,000 after acquiring an additional 560 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Highwoods Properties by 4.1% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 15,001 shares of the real estate investment trust's stock worth $455,000 after acquiring an additional 593 shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. increased its holdings in Highwoods Properties by 0.5% in the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 143,814 shares of the real estate investment trust's stock worth $4,398,000 after acquiring an additional 677 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Trading Up 1.5%

Shares of HIW stock traded up $0.44 on Tuesday, hitting $30.17. 206,280 shares of the stock traded hands, compared to its average volume of 949,716. The firm's 50-day moving average price is $30.74 and its two-hundred day moving average price is $29.48. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $3.25 billion, a PE ratio of 18.74 and a beta of 1.21. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01. The firm had revenue of $200.38 million for the quarter, compared to analysts' expectations of $201.31 million. Highwoods Properties had a net margin of 21.53% and a return on equity of 7.43%. The company's revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. As a group, analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.63%. Highwoods Properties's payout ratio is 124.22%.

Wall Street Analyst Weigh In

Several brokerages recently commented on HIW. Wells Fargo & Company cut their price target on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Mizuho upped their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Truist Financial lowered shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price for the company. in a report on Wednesday, July 2nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $32.00.

Highwoods Properties Profile

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.