Toronto Dominion Bank decreased its position in Highwoods Properties, Inc. (NYSE:HIW) by 10.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,640 shares of the real estate investment trust’s stock after selling 1,920 shares during the quarter. Toronto Dominion Bank’s holdings in Highwoods Properties were worth $686,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in HIW. Arkadios Wealth Advisors lifted its holdings in Highwoods Properties by 24.2% in the 3rd quarter. Arkadios Wealth Advisors now owns 1,357 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 264 shares during the last quarter. Stephens Inc. AR lifted its holdings in Highwoods Properties by 1.2% in the 3rd quarter. Stephens Inc. AR now owns 23,725 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 271 shares during the last quarter. Shell Asset Management Co. lifted its holdings in Highwoods Properties by 5.8% in the 2nd quarter. Shell Asset Management Co. now owns 5,500 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 300 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Highwoods Properties by 2.3% in the 3rd quarter. Advisor Group Holdings Inc. now owns 16,027 shares of the real estate investment trust’s stock worth $704,000 after purchasing an additional 361 shares during the last quarter. Finally, Great West Life Assurance Co. Can lifted its holdings in Highwoods Properties by 0.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 108,205 shares of the real estate investment trust’s stock worth $4,888,000 after purchasing an additional 425 shares during the last quarter. 97.43% of the stock is owned by institutional investors and hedge funds.
Shares of HIW stock opened at $47.29 on Friday. Highwoods Properties, Inc. has a 12 month low of $37.01 and a 12 month high of $48.98. The firm has a market cap of $4.94 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.13. The stock has a 50 day moving average of $45.16 and a 200-day moving average of $45.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 7th. Investors of record on Monday, November 15th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.23%. Highwoods Properties’s payout ratio is 77.82%.
HIW has been the subject of several analyst reports. Robert W. Baird upgraded Highwoods Properties from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $53.00 in a report on Wednesday. Morgan Stanley upped their price target on Highwoods Properties from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, December 14th. Zacks Investment Research lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $47.00 price target for the company. in a report on Friday, December 10th. Finally, Jefferies Financial Group upgraded Highwoods Properties from a “hold” rating to a “buy” rating and upped their price target for the stock from $44.00 to $54.00 in a report on Monday, January 10th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $50.20.
In related news, CFO Mark F. Mulhern sold 16,154 shares of the company’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $47.11, for a total value of $761,014.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Charlotte, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.
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