Wolverine Asset Management LLC Sells 7,645 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Posted by Defense World Staff on Apr 22nd, 2023

Wolverine Asset Management LLC cut its position in shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) by 49.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,720 shares of the real estate investment trust’s stock after selling 7,645 shares during the period. Wolverine Asset Management LLC’s holdings in Highwoods Properties were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HIW. CENTRAL TRUST Co increased its position in shares of Highwoods Properties by 76.6% during the third quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 475 shares during the period. Signaturefd LLC increased its position in shares of Highwoods Properties by 4,350.0% during the third quarter. Signaturefd LLC now owns 2,136 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 2,088 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in Highwoods Properties in the 3rd quarter valued at $61,000. Quantbot Technologies LP boosted its stake in Highwoods Properties by 165.3% in the 2nd quarter. Quantbot Technologies LP now owns 2,181 shares of the real estate investment trust’s stock valued at $74,000 after buying an additional 1,359 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Highwoods Properties by 152.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,913 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 1,760 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HIW has been the topic of several recent analyst reports. Credit Suisse Group decreased their price target on Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 24th. Wells Fargo & Company decreased their price target on Highwoods Properties from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. StockNews.com assumed coverage on Highwoods Properties in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Truist Financial reduced their price objective on Highwoods Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, February 27th. Finally, Morgan Stanley reduced their price objective on Highwoods Properties from $26.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, March 31st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.71.

Highwoods Properties Trading Down 0.9 %

NYSE HIW opened at $22.84 on Friday. The stock has a 50-day simple moving average of $24.43 and a 200 day simple moving average of $26.97. The company has a market capitalization of $2.41 billion, a PE ratio of 15.54 and a beta of 1.13. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.29. Highwoods Properties, Inc. has a 12 month low of $19.45 and a 12 month high of $44.73.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Monday, May 22nd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $2.00 dividend on an annualized basis and a yield of 8.76%. Highwoods Properties’s dividend payout ratio is presently 136.05%.

Insider Activity at Highwoods Properties

In related news, CEO Theodore J. Klinck acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was acquired at an average price of $19.81 per share, for a total transaction of $99,050.00. Following the completion of the acquisition, the chief executive officer now owns 337,177 shares of the company’s stock, valued at approximately $6,679,476.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.