PGGM Investments bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,039,755 shares of the real estate investment trust's stock, valued at approximately $46,833,000. PGGM Investments owned approximately 1.93% of Highwoods Properties at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Highwoods Properties by 7.0% during the third quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust's stock worth $358,017,000 after acquiring an additional 1,139,688 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Highwoods Properties by 0.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,328,382 shares of the real estate investment trust's stock worth $53,459,000 after purchasing an additional 9,397 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Highwoods Properties by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,773,506 shares of the real estate investment trust's stock worth $36,552,000 after purchasing an additional 106,056 shares in the last quarter. AQR Capital Management LLC grew its position in Highwoods Properties by 47.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,565,801 shares of the real estate investment trust's stock worth $32,271,000 after purchasing an additional 504,777 shares in the last quarter. Finally, Senvest Management LLC grew its position in Highwoods Properties by 37.2% in the 3rd quarter. Senvest Management LLC now owns 1,041,309 shares of the real estate investment trust's stock worth $21,461,000 after purchasing an additional 282,210 shares in the last quarter. 96.31% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on HIW shares. Morgan Stanley upped their price objective 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. Robert W. Baird upped their price objective on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 14th. Truist Financial upped their price objective on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They issued a "buy" rating and a $28.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.38.
Get Our Latest Research Report on Highwoods Properties
Highwoods Properties Stock Performance
HIW traded up $0.08 during midday trading on Friday, reaching $25.68. The company had a trading volume of 1,185,574 shares, compared to its average volume of 812,094. The stock has a market cap of $2.72 billion, a PE ratio of 21.05 and a beta of 1.23. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.24 and a current ratio of 1.34. The business has a 50-day moving average price of $24.69 and a two-hundred day moving average price of $22.35. Highwoods Properties, Inc. has a 12-month low of $17.06 and a 12-month high of $26.42.
Highwoods Properties Announces Dividend
The firm 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties's payout ratio is currently 163.93%.
About Highwoods Properties
(
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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