ExodusPoint Capital Management LP Boosts Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

ExodusPoint Capital Management LP raised its stake in Highwoods Properties, Inc. (NYSE:HIW) by 391.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,206 shares of the real estate investment trust’s stock after purchasing an additional 746,448 shares during the period. ExodusPoint Capital Management LP owned about 0.89% of Highwoods Properties worth $22,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank raised its stake in Highwoods Properties by 1.1% during the 2nd quarter. Commerce Bank now owns 38,574 shares of the real estate investment trust’s stock worth $922,000 after acquiring an additional 415 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Highwoods Properties by 1.5% during the first quarter. Ameritas Investment Partners Inc. now owns 28,020 shares of the real estate investment trust’s stock worth $1,282,000 after purchasing an additional 416 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Highwoods Properties by 9.9% in the 2nd quarter. Salem Investment Counselors Inc. now owns 4,706 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 422 shares during the last quarter. Mackenzie Financial Corp boosted its position in shares of Highwoods Properties by 7.2% in the 1st quarter. Mackenzie Financial Corp now owns 6,573 shares of the real estate investment trust’s stock valued at $301,000 after purchasing an additional 439 shares during the period. Finally, CENTRAL TRUST Co grew its stake in Highwoods Properties by 76.6% during the 3rd quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of HIW traded down $0.02 during mid-day trading on Monday, hitting $18.69. The company’s stock had a trading volume of 307,807 shares, compared to its average volume of 1,220,015. The firm has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $21.97. Highwoods Properties, Inc. has a 1-year low of $17.06 and a 1-year high of $31.88. The firm has a market capitalization of $1.98 billion, a P/E ratio of 14.50 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 20th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 10.70%. Highwoods Properties’s payout ratio is currently 155.04%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HIW shares. Mizuho decreased their price objective on Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Citigroup lifted their price objective on shares of Highwoods Properties from $22.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Highwoods Properties in a research note on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company cut Highwoods Properties from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $27.00 to $22.00 in a research report on Wednesday, August 30th. Finally, Bank of America downgraded Highwoods Properties from a “buy” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $20.00 in a research note on Monday, November 13th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and an average price target of $25.00.

Highwoods Properties 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.