Van Lanschot Kempen Investment Management N.V. cut its stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 518,353 shares of the real estate investment trust's stock after selling 15,109 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 0.49% of Highwoods Properties worth $15,851,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of HIW. Norges Bank purchased a new position in Highwoods Properties in the 4th quarter worth about $32,727,000. Aew Capital Management L P purchased a new stake in Highwoods Properties in the 4th quarter valued at about $31,250,000. Franklin Resources Inc. boosted its position in Highwoods Properties by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust's stock valued at $107,155,000 after buying an additional 908,401 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Highwoods Properties by 20.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust's stock valued at $99,869,000 after buying an additional 556,828 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in Highwoods Properties by 55.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust's stock valued at $38,762,000 after buying an additional 454,670 shares during the period. 96.31% of the stock is currently owned by institutional investors.
Highwoods Properties Stock Down 0.2 %
Shares of HIW traded down $0.05 during mid-day trading on Friday, hitting $28.24. The company's stock had a trading volume of 648,990 shares, compared to its average volume of 909,163. The company's 50-day moving average is $28.26 and its 200-day moving average is $30.27. Highwoods Properties, Inc. has a 52-week low of $24.07 and a 52-week high of $36.78. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 29.73 and a beta of 1.15. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41.
Highwoods Properties (NYSE:HIW - Get Free Report) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, meeting analysts' consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. On average, equities research analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.
Highwoods Properties Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a yield of 7.08%. Highwoods Properties's payout ratio is 210.53%.
Wall Street Analyst Weigh In
Several research firms have issued reports on HIW. Mizuho boosted their price objective on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd. Jefferies Financial Group began coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Truist Financial lowered their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $32.50.
View Our Latest Stock Analysis on HIW
About Highwoods Properties
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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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