Cibc World Markets Corp Cuts Position in Highwoods Properties, Inc. (NYSE:HIW)

Cibc World Markets Corp trimmed its position in shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) by 21.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 33,940 shares of the real estate investment trust’s stock after selling 9,312 shares during the quarter. Cibc World Markets Corp’s holdings in Highwoods Properties were worth $950,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Cohen & Steers Inc. increased its stake in shares of Highwoods Properties by 9.4% during the third quarter. Cohen & Steers Inc. now owns 17,239,625 shares of the real estate investment trust’s stock worth $464,708,000 after buying an additional 1,475,867 shares during the period. Vanguard Group Inc. increased its stake in Highwoods Properties by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,319,629 shares of the real estate investment trust’s stock valued at $439,978,000 after purchasing an additional 193,977 shares during the last quarter. State Street Corp increased its stake in Highwoods Properties by 0.9% in the second quarter. State Street Corp now owns 6,399,371 shares of the real estate investment trust’s stock valued at $218,794,000 after purchasing an additional 55,672 shares during the last quarter. Northern Trust Corp increased its stake in Highwoods Properties by 30.9% in the first quarter. Northern Trust Corp now owns 2,086,478 shares of the real estate investment trust’s stock valued at $95,435,000 after purchasing an additional 492,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Highwoods Properties by 4.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,588,575 shares of the real estate investment trust’s stock valued at $72,662,000 after purchasing an additional 62,058 shares during the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Price Performance

Shares of NYSE HIW opened at $20.58 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a fifty day moving average price of $22.15 and a 200 day moving average price of $26.31. Highwoods Properties, Inc. has a 1-year low of $19.45 and a 1-year high of $39.53. The company has a market cap of $2.17 billion, a PE ratio of 13.63 and a beta of 1.13.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Monday, May 22nd will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 9.72%. The ex-dividend date of this dividend is Friday, May 19th. Highwoods Properties’s dividend payout ratio is presently 132.45%.

Insider Buying and Selling

In related news, CEO Theodore J. Klinck purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The stock was purchased at an average cost of $19.81 per share, with a total value of $99,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 337,177 shares in the company, valued at $6,679,476.37. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HIW shares. Morgan Stanley dropped their price target on shares of Highwoods Properties from $26.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, March 31st. Wells Fargo & Company dropped their price target on shares of Highwoods Properties from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. Truist Financial decreased their price objective on Highwoods Properties from $37.00 to $35.00 and set a “buy” rating for the company in a report on Monday, February 27th. Credit Suisse Group decreased their price objective on Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, January 24th. Finally, StockNews.com initiated coverage on Highwoods Properties in a report on Thursday. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.71.

About Highwoods Properties

(Get Rating)

Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.