Retirement Systems of Alabama boosted its stake in Highwoods Properties Inc (NYSE:HIW) by 83.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 245,501 shares of the real estate investment trust’s stock after acquiring an additional 111,579 shares during the quarter. Retirement Systems of Alabama owned 0.24% of Highwoods Properties worth $11,602,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Highwoods Properties by 10.0% during the 2nd quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock worth $723,688,000 after purchasing an additional 1,301,682 shares during the last quarter. Bank of Montreal Can acquired a new stake in Highwoods Properties during the 2nd quarter worth $43,133,000. American Century Companies Inc. acquired a new stake in Highwoods Properties during the 2nd quarter worth $28,443,000. Centersquare Investment Management LLC boosted its stake in Highwoods Properties by 15.0% during the 2nd quarter. Centersquare Investment Management LLC now owns 3,228,640 shares of the real estate investment trust’s stock worth $163,788,000 after purchasing an additional 420,130 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Highwoods Properties during the 2nd quarter worth $12,840,000. 91.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HIW stock opened at $43.19 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $4.50 billion, a PE ratio of 13.17, a PEG ratio of 2.97 and a beta of 0.72. Highwoods Properties Inc has a twelve month low of $41.34 and a twelve month high of $52.58.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Monday, November 12th will be given a dividend of $0.4625 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.85 annualized dividend and a dividend yield of 4.28%. Highwoods Properties’s payout ratio is 56.40%.
HIW has been the topic of several recent research reports. Wood & Company reaffirmed a “sell” rating on shares of Highwoods Properties in a research note on Friday, August 10th. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. SunTrust Banks set a $51.00 target price on shares of Highwoods Properties and gave the stock a “buy” rating in a research note on Monday, July 30th. Finally, ValuEngine raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Highwoods Properties currently has a consensus rating of “Hold” and a consensus price target of $53.00.
In other news, CFO Mark F. Mulhern sold 14,141 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $49.96, for a total transaction of $706,484.36. Following the transaction, the chief financial officer now owns 81,780 shares of the company’s stock, valued at approximately $4,085,728.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.00% of the company’s stock.
About Highwoods Properties
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. The Company is a fullyintegrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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