Highwoods Properties, Inc. (NYSE:HIW) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC cut its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 17.3% in the fourth quarter, HoldingsChannel reports. The firm owned 27,085 shares of the real estate investment trust’s stock after selling 5,671 shares during the period. Cullen Capital Management LLC’s holdings in Highwoods Properties were worth $828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. purchased a new position in shares of Highwoods Properties during the 4th quarter valued at about $1,277,000. Helix Partners Management LP purchased a new position in Highwoods Properties during the fourth quarter valued at approximately $6,116,000. ExodusPoint Capital Management LP raised its position in Highwoods Properties by 138.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 140,499 shares of the real estate investment trust’s stock valued at $4,296,000 after acquiring an additional 81,511 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Highwoods Properties by 20.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock valued at $99,869,000 after acquiring an additional 556,828 shares during the period. Finally, Summit Financial LLC purchased a new stake in Highwoods Properties in the 4th quarter worth approximately $230,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Down 2.8 %

Shares of NYSE HIW opened at $27.14 on Friday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 28.57 and a beta of 1.25. The company’s 50-day simple moving average is $28.99 and its 200-day simple moving average is $30.99. 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, Inc. has a 52-week low of $23.52 and a 52-week high of $36.78.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (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%. Equities analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.37%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties’s dividend payout ratio is currently 210.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HIW shares. StockNews.com lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday. Truist Financial cut their price objective on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Mizuho increased their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group started coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $32.50.

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.