Highwoods Properties, Inc. (NYSE:HIW) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,743 shares of the real estate investment trust's stock after selling 32,571 shares during the period. Wells Fargo & Company MN owned approximately 0.12% of Highwoods Properties worth $3,998,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Highwoods Properties during the fourth quarter worth $32,727,000. Aew Capital Management L P acquired a new position in shares of Highwoods Properties during the 4th quarter worth $31,250,000. Franklin Resources Inc. increased its holdings in shares of 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 purchasing an additional 908,401 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Highwoods Properties by 20.6% in the fourth 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 purchasing an additional 556,828 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Highwoods Properties by 55.9% during the fourth quarter. Allianz Asset Management GmbH now owns 1,267,553 shares of the real estate investment trust's stock worth $38,762,000 after buying an additional 454,670 shares in the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

Highwoods Properties Trading Down 0.2 %

NYSE:HIW traded down $0.05 on Friday, reaching $28.24. The stock had a trading volume of 648,990 shares, compared to its average volume of 910,268. The firm's fifty day moving average is $28.26 and its two-hundred day moving average is $30.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 29.73 and a beta of 1.15. Highwoods Properties, Inc. has a 12-month low of $24.07 and a 12-month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Equities analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties's dividend payout ratio (DPR) is 210.53%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HIW shares. Truist Financial dropped their price objective on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. 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. StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. Finally, Mizuho lifted their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $32.50.

About Highwoods Properties

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.