Arizona State Retirement System Sells 486 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Arizona State Retirement System reduced its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 1.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,541 shares of the real estate investment trust’s stock after selling 486 shares during the period. Arizona State Retirement System’s holdings in Highwoods Properties were worth $678,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Quent Capital LLC grew its holdings in Highwoods Properties by 875.4% during the fourth quarter. Quent Capital LLC now owns 4,721 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 4,237 shares during the period. Chilton Capital Management LLC grew its stake in shares of Highwoods Properties by 12.8% during the 4th quarter. Chilton Capital Management LLC now owns 451,435 shares of the real estate investment trust’s stock worth $10,365,000 after acquiring an additional 51,367 shares during the period. Planned Solutions Inc. purchased a new stake in Highwoods Properties in the 4th quarter worth about $38,000. Raymond James & Associates raised its stake in Highwoods Properties by 4.1% in the 4th quarter. Raymond James & Associates now owns 13,731 shares of the real estate investment trust’s stock valued at $315,000 after acquiring an additional 536 shares during the period. Finally, Pasadena Private Wealth LLC purchased a new stake in Highwoods Properties during the fourth quarter valued at about $549,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analyst Upgrades and Downgrades

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

Highwoods Properties Price Performance

Shares of NYSE HIW opened at $23.96 on Friday. The stock’s 50-day simple moving average is $24.49 and its two-hundred day simple moving average is $22.09. Highwoods Properties, Inc. has a twelve month low of $17.06 and a twelve month high of $26.27. The firm has a market capitalization of $2.54 billion, a P/E ratio of 17.24 and a beta of 1.23. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 8.35%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties’s payout ratio is 143.89%.

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.