New York State Teachers Retirement System Cuts Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

New York State Teachers Retirement System trimmed its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 7.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,966 shares of the real estate investment trust's stock after selling 11,100 shares during the quarter. New York State Teachers Retirement System owned 0.13% of Highwoods Properties worth $4,060,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of HIW. Wealth Enhancement Advisory Services LLC increased its position in shares of Highwoods Properties by 5.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust's stock valued at $248,000 after purchasing an additional 383 shares during the last quarter. GAMMA Investing LLC increased its holdings in Highwoods Properties by 10.3% during the first quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust's stock worth $156,000 after buying an additional 493 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Highwoods Properties by 4.1% in the fourth 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 during the period. Jones Financial Companies Lllp boosted its stake in Highwoods Properties by 375.0% in the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 675 shares during the last quarter. Finally, Andrew Hill Investment Advisors Inc. grew its position in shares of Highwoods Properties by 0.5% during the 4th quarter. Andrew Hill Investment Advisors Inc. now owns 143,814 shares of the real estate investment trust's stock valued at $4,398,000 after acquiring an additional 677 shares during the period. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Price Performance

NYSE HIW traded down $0.04 on Wednesday, hitting $30.93. The stock had a trading volume of 982,662 shares, compared to its average volume of 933,057. The firm has a 50-day moving average of $30.49 and a 200-day moving average of $29.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. Highwoods Properties, Inc. has a 52-week low of $24.19 and a 52-week high of $36.78. The company has a market capitalization of $3.33 billion, a price-to-earnings ratio of 19.21 and a beta of 1.21.

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

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend was Monday, May 19th. Highwoods Properties's payout ratio is 124.22%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HIW. Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Truist Financial cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Wednesday, July 2nd. Jefferies Financial Group started coverage on Highwoods Properties in a research note on Monday, March 17th. They set a "buy" rating and a $32.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $31.83.

Highwoods Properties Company 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.