Riverview Trust Co Buys Shares of 1,297 Highwoods Properties, Inc. (NYSE:HIW)

Riverview Trust Co bought a new stake in Highwoods Properties, Inc. (NYSE:HIW) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,297 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Several other hedge funds have also recently bought and sold shares of HIW. PNC Financial Services Group Inc. increased its holdings in Highwoods Properties by 6.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,369 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 716 shares during the period. QRG Capital Management Inc. bought a new position in Highwoods Properties in the 3rd quarter valued at about $255,000. Envestnet Portfolio Solutions Inc. bought a new position in Highwoods Properties in the 3rd quarter valued at about $203,000. Envestnet Asset Management Inc. increased its holdings in Highwoods Properties by 57.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 299,001 shares of the real estate investment trust’s stock valued at $6,162,000 after buying an additional 108,934 shares during the period. Finally, FMR LLC boosted its stake in shares of Highwoods Properties by 2.1% in the 3rd quarter. FMR LLC now owns 473,829 shares of the real estate investment trust’s stock valued at $9,766,000 after purchasing an additional 9,551 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.75.

Highwoods Properties Stock Down 2.2 %

NYSE:HIW opened at $25.78 on Wednesday. The company has a market cap of $2.73 billion, a PE ratio of 21.13 and a beta of 1.22. Highwoods Properties, Inc. has a one year low of $17.06 and a one year high of $28.45. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50 day simple moving average is $25.84 and its 200 day simple moving average is $24.45.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.76%. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

About Highwoods Properties

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.