Wellington Management Group LLP Purchases 58,748 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Wellington Management Group LLP raised its position in Highwoods Properties, Inc. (NYSE:HIW) by 113.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,576 shares of the real estate investment trust’s stock after acquiring an additional 58,748 shares during the quarter. Wellington Management Group LLP owned approximately 0.10% of Highwoods Properties worth $2,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. raised its position in Highwoods Properties by 6.1% during 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 purchasing an additional 716 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Highwoods Properties during the third quarter valued at approximately $203,000. Envestnet Asset Management Inc. raised its holdings in shares of Highwoods Properties by 57.3% during the third quarter. Envestnet Asset Management Inc. now owns 299,001 shares of the real estate investment trust’s stock valued at $6,162,000 after acquiring an additional 108,934 shares in the last quarter. FMR LLC lifted its stake in Highwoods Properties by 2.1% in the third quarter. FMR LLC now owns 473,829 shares of the real estate investment trust’s stock worth $9,766,000 after acquiring an additional 9,551 shares during the period. Finally, Natixis Advisors L.P. bought a new stake in Highwoods Properties in the third quarter valued at $366,000. 96.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HIW has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have assigned 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 $24.75.

Highwoods Properties Price Performance

Shares of NYSE HIW opened at $26.27 on Monday. Highwoods Properties, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $28.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 21.53 and a beta of 1.22. The company has a 50 day simple moving average of $25.95 and a two-hundred day simple moving average of $24.54.

Highwoods Properties Dividend Announcement

The business 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. This represents a $2.00 annualized dividend and a dividend yield of 7.61%. The ex-dividend date was Friday, May 17th. Highwoods Properties’s dividend payout ratio is presently 163.93%.

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.