Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Highwoods Properties Inc (NYSE:HIW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Highwoods Properties Inc (NYSE:HIW) by 18.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,011 shares of the real estate investment trust’s stock after acquiring an additional 1,401 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Highwoods Properties were worth $459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake in Highwoods Properties by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,888,598 shares of the real estate investment trust’s stock worth $254,647,000 after acquiring an additional 703,562 shares during the period. JPMorgan Chase & Co. grew its stake in Highwoods Properties by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,332,229 shares of the real estate investment trust’s stock worth $173,241,000 after acquiring an additional 53,973 shares during the period. Macquarie Group Ltd. grew its stake in Highwoods Properties by 4.7% in the 3rd quarter. Macquarie Group Ltd. now owns 1,767,613 shares of the real estate investment trust’s stock worth $92,075,000 after acquiring an additional 80,064 shares during the period. Dimensional Fund Advisors LP grew its stake in Highwoods Properties by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,480,027 shares of the real estate investment trust’s stock worth $77,094,000 after acquiring an additional 39,697 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in Highwoods Properties by 5.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,083,372 shares of the real estate investment trust’s stock worth $55,155,000 after acquiring an additional 52,988 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Highwoods Properties Inc (HIW) traded up $0.31 during midday trading on Friday, hitting $43.89. 183,369 shares of the stock traded hands, compared to its average volume of 766,462. Highwoods Properties Inc has a one year low of $41.83 and a one year high of $53.34. The stock has a market cap of $4,432.95, a PE ratio of 12.62, a PEG ratio of 4.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.40.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, February 16th. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 4.22%. Highwoods Properties’s payout ratio is currently 104.52%.

In related news, Director Sherry A. Kellett sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total transaction of $101,280.00. Following the completion of the sale, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sherry A. Kellett sold 1,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $51.70, for a total transaction of $51,700.00. Following the sale, the director now directly owns 11,744 shares of the company’s stock, valued at $607,164.80. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Stifel Nicolaus lowered their target price on shares of Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. ValuEngine cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks set a $51.00 price objective on shares of Highwoods Properties and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $53.00.

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About Highwoods Properties

Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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

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