Highwoods Properties, Inc. (NYSE:HIW) Position Reduced by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in Highwoods Properties, Inc. (NYSE:HIW) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,469 shares of the real estate investment trust’s stock after selling 1,079 shares during the period. Pictet Asset Management Holding SA’s holdings in Highwoods Properties were worth $962,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. grew its stake in Highwoods Properties by 5.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 142,419 shares of the real estate investment trust’s stock valued at $4,355,000 after acquiring an additional 7,120 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Highwoods Properties in the 4th quarter valued at approximately $509,000. Norges Bank purchased a new stake in Highwoods Properties in the 4th quarter worth approximately $32,727,000. Easterly Investment Partners LLC boosted its stake in shares of Highwoods Properties by 2.8% during the 4th quarter. Easterly Investment Partners LLC now owns 113,364 shares of the real estate investment trust’s stock valued at $3,467,000 after buying an additional 3,100 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Highwoods Properties by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 699,013 shares of the real estate investment trust’s stock valued at $21,376,000 after acquiring an additional 42,744 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Performance

NYSE:HIW opened at $27.14 on Monday. The firm has a market capitalization of $2.93 billion, a PE ratio of 28.57 and a beta of 1.15. Highwoods Properties, Inc. has a 1 year low of $23.52 and a 1 year high of $36.78. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41. The firm’s fifty day simple moving average is $28.99 and its 200 day simple moving average is $30.98.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. On average, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.50 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $2.00 annualized dividend and a dividend yield of 7.37%. Highwoods Properties’s payout ratio is 210.53%.

Wall Street Analysts Forecast Growth

HIW has been the subject of a number of research reports. Jefferies Financial Group began coverage on Highwoods Properties in a research report on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. Truist Financial lowered their price target on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Mizuho raised their price objective on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $32.50.

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.