BTC Capital Management Inc. Takes Position in Highwoods Properties, Inc. (NYSE:HIW)

BTC Capital Management Inc. acquired a new position in Highwoods Properties, Inc. (NYSE:HIW) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,288 shares of the real estate investment trust’s stock, valued at approximately $269,000.

A number of other large investors have also modified their holdings of the company. PGGM Investments acquired a new position in shares of Highwoods Properties during the fourth quarter worth approximately $46,833,000. Franklin Resources Inc. raised its stake in Highwoods Properties by 42.0% during the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock valued at $105,952,000 after acquiring an additional 1,364,176 shares in the last quarter. Vanguard Group Inc. boosted its position in Highwoods Properties by 7.0% during the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock worth $358,017,000 after acquiring an additional 1,139,688 shares during the period. Norges Bank bought a new position in shares of Highwoods Properties in the fourth quarter worth $24,306,000. Finally, AQR Capital Management LLC increased its holdings in shares of Highwoods Properties by 47.6% during the third quarter. AQR Capital Management LLC now owns 1,565,801 shares of the real estate investment trust’s stock valued at $32,271,000 after purchasing an additional 504,777 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Trading Down 0.2 %

Shares of HIW stock opened at $25.96 on Friday. The stock has a 50-day simple moving average of $25.76 and a 200 day simple moving average of $24.36. The stock has a market capitalization of $2.75 billion, a P/E ratio of 21.28 and a beta of 1.22. Highwoods Properties, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $28.45. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.37.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.00 annualized dividend and a dividend yield of 7.70%. Highwoods Properties’s dividend payout ratio (DPR) is 163.93%.

Analyst Ratings Changes

HIW has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Morgan Stanley boosted their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, March 28th. One investment 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, the stock presently has an average rating of “Hold” and a consensus price target of $24.75.

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.