Wolverine Asset Management LLC Buys Shares of 25,107 Highwoods Properties, Inc. (NYSE:HIW)

Wolverine Asset Management LLC bought a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 25,107 shares of the real estate investment trust’s stock, valued at approximately $768,000.

A number of other large investors have also recently bought and sold shares of HIW. Massachusetts Financial Services Co. MA grew its holdings in Highwoods Properties by 131.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after buying an additional 1,536,067 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Highwoods Properties by 40.9% during the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after purchasing an additional 908,401 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Highwoods Properties by 472.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 885,541 shares of the real estate investment trust’s stock valued at $29,674,000 after purchasing an additional 730,859 shares during the period. Barclays PLC grew its position in shares of Highwoods Properties by 537.7% in the third quarter. Barclays PLC now owns 485,368 shares of the real estate investment trust’s stock valued at $16,264,000 after purchasing an additional 409,258 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Highwoods Properties by 319.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 479,972 shares of the real estate investment trust’s stock valued at $14,678,000 after purchasing an additional 365,454 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HIW shares. Truist Financial lowered their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Robert W. Baird lifted their price objective on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Mizuho lifted their price objective on Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group lowered their price objective on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company lifted their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Price Performance

Shares of Highwoods Properties stock opened at $29.22 on Friday. Highwoods Properties, Inc. has a twelve month low of $23.14 and a twelve month high of $36.78. The stock has a market capitalization of $3.14 billion, a P/E ratio of 30.76 and a beta of 1.24. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average price is $29.68 and its 200 day moving average price is $31.58.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. As a group, research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Tuesday, February 18th. Highwoods Properties’s dividend payout ratio is presently 210.53%.

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.