Allianz Asset Management GmbH Buys 454,670 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Allianz Asset Management GmbH grew its stake in Highwoods Properties, Inc. (NYSE:HIW) by 55.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,267,553 shares of the real estate investment trust’s stock after buying an additional 454,670 shares during the period. Allianz Asset Management GmbH owned approximately 1.20% of Highwoods Properties worth $38,762,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Highwoods Properties in the 3rd quarter valued at approximately $48,000. Versant Capital Management Inc raised its position in shares of Highwoods Properties by 12.0% in the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 327 shares during the period. Blue Trust Inc. lifted its stake in shares of Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 2,350 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Highwoods Properties by 55.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,167 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Highwoods Properties by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 1,069 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of NYSE:HIW opened at $29.22 on Monday. The firm has a market capitalization of $3.14 billion, a PE ratio of 30.76 and a beta of 1.24. 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, Inc. has a 1-year low of $23.14 and a 1-year high of $36.78. The business’s 50 day moving average is $29.68 and its 200-day moving average is $31.59.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Sell-side analysts predict that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.84%. The ex-dividend date is Tuesday, February 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 210.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HIW shares. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Robert W. Baird boosted their price objective on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Mizuho lifted their price target on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. StockNews.com lowered Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.71.

Highwoods Properties 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.