PGGM Investments Purchases Shares of 2,039,755 Highwoods Properties, Inc. (NYSE:HIW)

PGGM Investments purchased a new stake in Highwoods Properties, Inc. (NYSE:HIW) in the 4th quarter, Holdings Channel.com reports. The fund purchased 2,039,755 shares of the real estate investment trust’s stock, valued at approximately $46,833,000.

Several other institutional investors also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its holdings in Highwoods Properties by 0.5% in the 4th quarter. Russell Investments Group Ltd. now owns 697,672 shares of the real estate investment trust’s stock valued at $16,079,000 after acquiring an additional 3,658 shares during the last quarter. Kovack Advisors Inc. raised its holdings in Highwoods Properties by 15.3% in the 4th quarter. Kovack Advisors Inc. now owns 14,781 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 1,960 shares during the last quarter. GAMMA Investing LLC acquired a new position in Highwoods Properties in the 4th quarter valued at $53,000. Harbor Advisors LLC acquired a new stake in shares of Highwoods Properties during the 4th quarter worth $230,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Highwoods Properties by 8.1% during the 4th quarter. New York State Common Retirement Fund now owns 90,002 shares of the real estate investment trust’s stock worth $2,066,000 after buying an additional 6,746 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Stock Up 0.3 %

Highwoods Properties stock traded up $0.08 during trading on Friday, reaching $25.68. 1,185,574 shares of the company’s stock were exchanged, compared to its average volume of 812,094. The company’s 50-day moving average is $24.69 and its two-hundred day moving average is $22.33. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.24 and a current ratio of 1.34. Highwoods Properties, Inc. has a 52-week low of $17.06 and a 52-week high of $26.42. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 21.06 and a beta of 1.23.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 7.79%. Highwoods Properties’s dividend payout ratio (DPR) is 163.93%.

Analysts Set New Price Targets

A number of analysts have recently commented on HIW shares. Truist Financial upped their price objective on Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley upped their price objective on Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. Robert W. Baird upped their price objective on Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Highwoods Properties in a report on Tuesday, January 30th. They set a “buy” rating and a $28.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus price target of $24.38.

Highwoods Properties Company Profile

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.