Van ECK Associates Corp boosted its position in shares of Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,428 shares of the real estate investment trust’s stock after buying an additional 592 shares during the quarter. Van ECK Associates Corp’s holdings in Highwoods Properties were worth $265,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. IFP Advisors Inc grew its position in shares of Highwoods Properties by 103.2% during the 4th quarter. IFP Advisors Inc now owns 878 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 446 shares during the period. Belpointe Asset Management LLC acquired a new stake in Highwoods Properties in the fourth quarter valued at approximately $28,000. Ellevest Inc. increased its position 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 raised its stake in shares of Highwoods Properties by 76.6% during the 3rd quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 475 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of Highwoods Properties by 254.9% during the 1st quarter. Sound Income Strategies LLC now owns 1,118 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently commented on HIW. SpectralCast reissued a “maintains” rating on shares of Highwoods Properties in a report on Tuesday, May 30th. StockNews.com began coverage on shares of Highwoods Properties in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $22.00 price objective on shares of Highwoods Properties in a research note on Wednesday, July 19th. Citigroup raised their target price on Highwoods Properties from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Finally, 888 reiterated a “maintains” rating on shares of Highwoods Properties in a research report on Tuesday, May 30th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.14.
Highwoods Properties Stock Up 1.5 %
Shares of HIW opened at $25.05 on Tuesday. Highwoods Properties, Inc. has a 52-week low of $19.45 and a 52-week high of $35.72. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.31. The stock has a fifty day simple moving average of $23.74 and a two-hundred day simple moving average of $24.25. The company has a market capitalization of $2.65 billion, a PE ratio of 17.40 and a beta of 1.17.
Highwoods Properties Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Monday, August 21st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $2.00 annualized dividend and a yield of 7.98%. Highwoods Properties’s payout ratio is 138.89%.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office 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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