Truist Financial Corp Reduces Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

Truist Financial Corp decreased its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 185,079 shares of the real estate investment trust’s stock after selling 23,921 shares during the quarter. Truist Financial Corp owned about 0.18% of Highwoods Properties worth $4,249,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HIW. Vanguard Group Inc. raised its holdings in shares of 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. AQR Capital Management LLC raised its stake in 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 worth $32,271,000 after purchasing an additional 504,777 shares during the period. Senvest Management LLC boosted its holdings in Highwoods Properties by 37.2% in the 3rd quarter. Senvest Management LLC now owns 1,041,309 shares of the real estate investment trust’s stock valued at $21,461,000 after purchasing an additional 282,210 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Highwoods Properties by 41.9% in the 3rd quarter. Principal Financial Group Inc. now owns 561,832 shares of the real estate investment trust’s stock valued at $11,579,000 after buying an additional 165,948 shares during the period. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Highwoods Properties by 472.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 162,397 shares of the real estate investment trust’s stock worth $3,347,000 after buying an additional 134,015 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Stock Up 0.5 %

Shares of NYSE HIW opened at $26.77 on Monday. The business’s fifty day simple moving average is $24.96 and its 200-day simple moving average is $22.58. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.37. Highwoods Properties, Inc. has a 12-month low of $17.06 and a 12-month high of $27.57. The stock has a market cap of $2.84 billion, a P/E ratio of 21.94 and a beta of 1.23.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 7.47%. Highwoods Properties’s dividend payout ratio is currently 163.93%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Morgan Stanley increased their price target on Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on Highwoods Properties in a research report on Tuesday, January 30th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Robert W. Baird upped their target price on shares of Highwoods Properties from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.38.

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.