Franklin Resources Inc. grew its position in shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 278,755 shares of the real estate investment trust’s stock after acquiring an additional 15,084 shares during the quarter. Franklin Resources Inc. owned about 0.26% of Highwoods Properties worth $7,800,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in shares of Highwoods Properties by 103.2% in the fourth quarter. IFP Advisors Inc now owns 878 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 446 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Highwoods Properties in the fourth quarter valued at about $28,000. Ellevest Inc. grew its stake in shares of Highwoods Properties by 98.2% in the fourth quarter. Ellevest Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 542 shares in the last quarter. CENTRAL TRUST Co grew its stake in shares of Highwoods Properties by 76.6% in the third quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 475 shares in the last quarter. Finally, Heritage Wealth Advisors grew its stake in shares of Highwoods Properties by 59.0% in the fourth quarter. Heritage Wealth Advisors now owns 1,617 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 600 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. StockNews.com assumed coverage on Highwoods Properties in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their price objective on Highwoods Properties from $34.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. Morgan Stanley lowered their price objective on Highwoods Properties from $26.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, March 31st. 888 restated a “maintains” rating on shares of Highwoods Properties in a research note on Tuesday. Finally, Truist Financial lowered their price objective on Highwoods Properties from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Monday, February 27th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Highwoods Properties has an average rating of “Hold” and a consensus target price of $29.71.
Insider Buying and Selling
Highwoods Properties Trading Down 2.0 %
NYSE:HIW opened at $20.27 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.33. The business’s 50 day moving average is $21.97 and its two-hundred day moving average is $25.83. Highwoods Properties, Inc. has a 52 week low of $19.45 and a 52 week high of $39.09. The company has a market cap of $2.14 billion, a PE ratio of 13.42 and a beta of 1.12.
Highwoods Properties Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Monday, May 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date is Friday, May 19th. Highwoods Properties’s dividend payout ratio is presently 132.45%.
Highwoods Properties Profile
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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