Harbor Advisors LLC Takes Position in Highwoods Properties, Inc. (NYSE:HIW)

Harbor Advisors LLC acquired a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Other large investors also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Highwoods Properties during the 4th quarter valued at about $31,000. Planned Solutions Inc. bought a new position in shares of Highwoods Properties during the 4th quarter valued at about $38,000. Harvest Fund Management Co. Ltd bought a new position in shares of Highwoods Properties during the 3rd quarter valued at about $44,000. NBC Securities Inc. bought a new position in shares of Highwoods Properties during the 3rd quarter valued at about $92,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Highwoods Properties by 128.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,774 shares of the real estate investment trust’s stock valued at $98,000 after purchasing an additional 2,684 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Analysts Set New Price Targets

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

Highwoods Properties Stock Up 2.8 %

Shares of NYSE HIW traded up $0.69 during mid-day trading on Tuesday, reaching $25.40. The company had a trading volume of 916,504 shares, compared to its average volume of 1,269,485. The stock has a fifty day moving average of $24.50 and a two-hundred day moving average of $22.19. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.78 and a beta of 1.23. Highwoods Properties, Inc. has a 12-month low of $17.06 and a 12-month high of $26.27.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be issued 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 7.87%. Highwoods Properties’s dividend payout ratio is currently 143.89%.

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.