Highwoods Properties, Inc. (NYSE:HIW) Short Interest Update

Highwoods Properties, Inc. (NYSE:HIW) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 6,020,000 shares, a growth of 5.8% from the October 15th total of 5,690,000 shares. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is presently 4.1 days.

Hedge Funds Weigh In On Highwoods Properties

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in Highwoods Properties by 3.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 196,682 shares of the real estate investment trust’s stock valued at $4,054,000 after buying an additional 7,000 shares in the last quarter. Morgan Stanley increased its holdings in shares of Highwoods Properties by 55.5% during the third quarter. Morgan Stanley now owns 1,818,635 shares of the real estate investment trust’s stock valued at $37,482,000 after acquiring an additional 649,394 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Highwoods Properties by 14.3% in the 3rd quarter. Penserra Capital Management LLC now owns 22,832 shares of the real estate investment trust’s stock worth $470,000 after purchasing an additional 2,862 shares during the last quarter. Royal Bank of Canada boosted its stake in Highwoods Properties by 39.3% in the 3rd quarter. Royal Bank of Canada now owns 158,307 shares of the real estate investment trust’s stock worth $3,263,000 after purchasing an additional 44,665 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Highwoods Properties by 36.0% during the 3rd quarter. Schroder Investment Management Group now owns 258,031 shares of the real estate investment trust’s stock valued at $5,318,000 after purchasing an additional 68,342 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Stock Down 0.5 %

HIW traded down $0.09 during trading on Friday, reaching $18.71. The stock had a trading volume of 1,590,521 shares, compared to its average volume of 1,224,091. The stock’s 50 day moving average is $19.89 and its two-hundred day moving average is $22.00. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 14.35 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32. Highwoods Properties has a one year low of $17.06 and a one year high of $31.88.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Monday, November 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date is Friday, November 17th. Highwoods Properties’s dividend payout ratio (DPR) is presently 155.04%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup lifted their price target on Highwoods Properties from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Wells Fargo & Company cut Highwoods Properties from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $27.00 to $22.00 in a research note on Wednesday, August 30th. StockNews.com assumed coverage on Highwoods Properties in a report on Thursday, October 5th. They set a “hold” rating on the stock. Mizuho dropped their price objective on Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, October 18th. Finally, Bank of America cut Highwoods Properties from a “buy” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $20.00 in a research note on Monday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.00.

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.