Wolverine Asset Management LLC Makes New $768,000 Investment in Highwoods Properties, Inc. (NYSE:HIW)

Wolverine Asset Management LLC acquired a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,107 shares of the real estate investment trust’s stock, valued at approximately $768,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. acquired a new position in shares of Highwoods Properties in the fourth quarter worth about $642,000. Kestra Investment Management LLC lifted its stake in shares of Highwoods Properties by 40.0% in the fourth quarter. Kestra Investment Management LLC now owns 29,599 shares of the real estate investment trust’s stock worth $905,000 after acquiring an additional 8,464 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Highwoods Properties by 26.1% in the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 851 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Highwoods Properties by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 513,697 shares of the real estate investment trust’s stock worth $15,709,000 after acquiring an additional 14,594 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Highwoods Properties by 7.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 66,725 shares of the real estate investment trust’s stock worth $2,040,000 after acquiring an additional 4,505 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Analyst Ratings Changes

HIW has been the topic of several recent analyst reports. Mizuho boosted their price target on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Robert W. Baird boosted their price target on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. StockNews.com cut Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Truist Financial lowered their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Stock Down 0.8 %

Shares of Highwoods Properties stock opened at $29.22 on Friday. The firm has a market cap of $3.14 billion, a P/E ratio of 30.76 and a beta of 1.24. The business has a 50-day moving average price of $29.68 and a 200 day moving average price of $31.58. Highwoods Properties, Inc. has a fifty-two week low of $23.14 and a fifty-two week high of $36.78. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, meeting the consensus estimate 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 forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 210.53%.

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.