Shell Asset Management Co. Purchases 899 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Posted by on Feb 28th, 2023

Shell Asset Management Co. lifted its position in shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,067 shares of the real estate investment trust’s stock after purchasing an additional 899 shares during the quarter. Shell Asset Management Co.’s holdings in Highwoods Properties were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its position in Highwoods Properties by 4,350.0% in the third quarter. Signaturefd LLC now owns 2,136 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 2,088 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of Highwoods Properties during the 3rd quarter valued at about $61,000. Quantbot Technologies LP boosted its position in shares of Highwoods Properties by 165.3% during the 2nd quarter. Quantbot Technologies LP now owns 2,181 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 1,359 shares in the last quarter. Neo Ivy Capital Management increased its stake in Highwoods Properties by 409.7% in the second quarter. Neo Ivy Capital Management now owns 2,314 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 1,860 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Highwoods Properties by 152.6% in the third quarter. Quadrant Capital Group LLC now owns 2,913 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 1,760 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock opened at $26.69 on Tuesday. The stock’s fifty day simple moving average is $28.87 and its 200 day simple moving average is $28.97. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $2.81 billion, a PE ratio of 18.16 and a beta of 1.14. Highwoods Properties, Inc. has a 12 month low of $24.51 and a 12 month high of $47.01.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 14th. Stockholders of record on Tuesday, February 21st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Friday, February 17th. Highwoods Properties’s dividend payout ratio is currently 136.05%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HIW. Truist Financial lowered their price objective on Highwoods Properties to $36.00 in a research note on Wednesday, November 16th. Credit Suisse Group lowered their price target on Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 24th. Morgan Stanley cut their price objective on Highwoods Properties from $30.00 to $29.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wells Fargo & Company upped their target price on shares of Highwoods Properties from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Tuesday, November 22nd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and an average target price of $31.86.

Highwoods Properties Company Profile

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Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.

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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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