California Public Employees Retirement System Sells 14,710 Shares of Highwoods Properties, Inc. (NYSE:HIW)

California Public Employees Retirement System decreased its holdings in shares of Highwoods Properties, Inc. (NYSE:HIWGet Rating) by 6.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 208,059 shares of the real estate investment trust’s stock after selling 14,710 shares during the quarter. California Public Employees Retirement System’s holdings in Highwoods Properties were worth $7,114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Highwoods Properties by 12.0% during the 2nd quarter. Principal Financial Group Inc. now owns 516,741 shares of the real estate investment trust’s stock valued at $17,668,000 after acquiring an additional 55,178 shares during the last quarter. Inspire Investing LLC increased its position in shares of Highwoods Properties by 22.0% in the 2nd quarter. Inspire Investing LLC now owns 6,193 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 1,116 shares in the last quarter. Pictet Asset Management SA increased its position in shares of Highwoods Properties by 0.8% in the 2nd quarter. Pictet Asset Management SA now owns 40,619 shares of the real estate investment trust’s stock valued at $1,389,000 after buying an additional 319 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Highwoods Properties in the 2nd quarter valued at $143,000. Finally, Lazard Asset Management LLC increased its position in shares of Highwoods Properties by 58.8% in the 2nd quarter. Lazard Asset Management LLC now owns 3,080 shares of the real estate investment trust’s stock valued at $105,000 after buying an additional 1,141 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Insider Transactions at Highwoods Properties

In other Highwoods Properties news, EVP Jeffrey Douglas Miller acquired 1,000 shares of Highwoods Properties stock in a transaction dated Thursday, September 22nd. The stock was bought at an average cost of $28.25 per share, for a total transaction of $28,250.00. Following the purchase, the executive vice president now directly owns 116,482 shares in the company, valued at approximately $3,290,616.50. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other Highwoods Properties news, CFO Brendan C. Maiorana acquired 1,500 shares of Highwoods Properties stock in a transaction dated Wednesday, September 28th. The stock was bought at an average cost of $27.21 per share, for a total transaction of $40,815.00. Following the purchase, the chief financial officer now directly owns 39,254 shares in the company, valued at approximately $1,068,101.34. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Douglas Miller acquired 1,000 shares of Highwoods Properties stock in a transaction dated Thursday, September 22nd. The shares were acquired at an average price of $28.25 per share, with a total value of $28,250.00. Following the completion of the purchase, the executive vice president now owns 116,482 shares in the company, valued at $3,290,616.50. The disclosure for this purchase can be found here. Insiders acquired a total of 7,500 shares of company stock worth $210,315 in the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HIW shares. Truist Financial lowered their price objective on shares of Highwoods Properties to $36.00 in a research report on Wednesday, November 16th. StockNews.com started coverage on shares of Highwoods Properties in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Robert W. Baird cut shares of Highwoods Properties from an “outperform” rating to a “neutral” rating and set a $31.00 price objective for the company. in a research report on Monday, October 10th. Credit Suisse Group lowered their price objective on shares of Highwoods Properties to $27.00 in a research report on Thursday, October 20th. Finally, Mizuho lowered their price objective on shares of Highwoods Properties from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Wednesday, October 19th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Price Performance

HIW stock opened at $28.75 on Thursday. The stock has a 50-day moving average price of $27.62 and a two-hundred day moving average price of $32.28. The stock has a market cap of $3.02 billion, a PE ratio of 11.98 and a beta of 1.09. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.19. Highwoods Properties, Inc. has a 1 year low of $24.51 and a 1 year high of $47.44.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Monday, November 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Friday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 83.33%.

Highwoods Properties Company Profile

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Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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

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