Salem Investment Counselors Inc. Raises Stock Position in Highwoods Properties, Inc. (NYSE:HIW)

Salem Investment Counselors Inc. grew its holdings in shares of Highwoods Properties, Inc. (NYSE:HIWFree Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,156 shares of the real estate investment trust’s stock after buying an additional 850 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Highwoods Properties were worth $187,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Citigroup Inc. raised its stake in shares of Highwoods Properties by 685.6% in the third quarter. Citigroup Inc. now owns 78,698 shares of the real estate investment trust’s stock valued at $1,622,000 after acquiring an additional 68,680 shares during the period. PNC Financial Services Group Inc. raised its position in Highwoods Properties by 6.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 12,369 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 716 shares during the period. QRG Capital Management Inc. bought a new stake in Highwoods Properties in the third quarter worth about $255,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Highwoods Properties during the third quarter valued at approximately $203,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Highwoods Properties by 57.3% during the third quarter. Envestnet Asset Management Inc. now owns 299,001 shares of the real estate investment trust’s stock valued at $6,162,000 after buying an additional 108,934 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on HIW shares. Deutsche Bank Aktiengesellschaft upped their price objective on Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Morgan Stanley lifted their target price on Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to, the company presently has an average rating of “Hold” and a consensus target price of $24.75.

Read Our Latest Stock Analysis on HIW

Highwoods Properties Stock Down 0.2 %

Shares of HIW traded down $0.04 during mid-day trading on Friday, hitting $25.96. 1,483,392 shares of the company’s stock were exchanged, compared to its average volume of 643,680. Highwoods Properties, Inc. has a fifty-two week low of $17.06 and a fifty-two week high of $28.45. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 21.28 and a beta of 1.22. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50-day moving average is $25.76 and its 200-day moving average is $24.36.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th were given a dividend of $0.50 per share. The ex-dividend date was Friday, May 17th. This represents a $2.00 annualized dividend and a dividend yield of 7.70%. Highwoods Properties’s dividend payout ratio is currently 163.93%.

Highwoods Properties Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Highwoods Properties (NYSE:HIW)

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