PGGM Investments Takes Position in Highwoods Properties, Inc. (NYSE:HIW)

PGGM Investments bought a new stake in Highwoods Properties, Inc. (NYSE:HIW) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,039,755 shares of the real estate investment trust’s stock, valued at approximately $46,833,000. PGGM Investments owned 1.93% of Highwoods Properties as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in Highwoods Properties by 0.5% during the fourth quarter. Russell Investments Group Ltd. now owns 697,672 shares of the real estate investment trust’s stock worth $16,079,000 after acquiring an additional 3,658 shares during the last quarter. Kovack Advisors Inc. boosted its position in Highwoods Properties by 15.3% during the fourth quarter. Kovack Advisors Inc. now owns 14,781 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 1,960 shares during the last quarter. GAMMA Investing LLC acquired a new position in Highwoods Properties during the fourth quarter worth about $53,000. Harbor Advisors LLC acquired a new position in Highwoods Properties during the fourth quarter worth about $230,000. Finally, New York State Common Retirement Fund boosted its position in Highwoods Properties by 8.1% during the fourth 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 acquiring an additional 6,746 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Analysts Set New Price Targets

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

Highwoods Properties Trading Up 0.3 %

Shares of Highwoods Properties stock traded up $0.08 on Friday, reaching $25.68. The company had a trading volume of 1,185,574 shares, compared to its average volume of 812,094. The firm’s 50 day moving average price is $24.69 and its two-hundred day moving average price is $22.33. The firm has a market cap of $2.72 billion, a PE ratio of 21.06 and a beta of 1.23. Highwoods Properties, Inc. has a 52-week low of $17.06 and a 52-week high of $26.42. 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 Announces Dividend

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

About Highwoods Properties

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.