PNC Financial Services Group Inc. Cuts Position in Highwoods Properties, Inc. (NYSE:HIW)

PNC Financial Services Group Inc. decreased its position in Highwoods Properties, Inc. (NYSE:HIW) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,412 shares of the real estate investment trust’s stock after selling 1,332 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Highwoods Properties were worth $196,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Highwoods Properties by 1.7% during the 3rd quarter. State Street Corp now owns 7,289,806 shares of the real estate investment trust’s stock worth $244,281,000 after acquiring an additional 124,646 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Highwoods Properties by 40.9% in the 3rd quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock valued at $107,155,000 after buying an additional 908,401 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Highwoods Properties by 131.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after buying an additional 1,536,067 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Highwoods Properties by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock worth $65,235,000 after acquiring an additional 71,670 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Highwoods Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock valued at $63,754,000 after acquiring an additional 12,958 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HIW. Truist Financial dropped their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Mizuho raised 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. Jefferies Financial Group began coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, StockNews.com raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Highwoods Properties currently has an average rating of “Hold” and an average price target of $30.86.

Highwoods Properties Stock Down 0.3 %

Highwoods Properties stock opened at $28.81 on Monday. The stock has a 50 day moving average of $29.14 and a two-hundred day moving average of $31.21. Highwoods Properties, Inc. has a twelve month low of $23.52 and a twelve month high of $36.78. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 30.32 and a beta of 1.25. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. As a group, research analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.94%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties’s payout ratio is 210.53%.

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.