Cullen Capital Management LLC Sells 5,671 Shares of Highwoods Properties, Inc. (NYSE:HIW)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in shares of Highwoods Properties by 66.7% in the 3rd quarter. Cerity Partners LLC now owns 16,552 shares of the real estate investment trust’s stock worth $555,000 after purchasing an additional 6,625 shares during the period. BNP Paribas Financial Markets lifted its holdings in Highwoods Properties by 65.1% during the third quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock worth $220,000 after buying an additional 2,587 shares during the period. Janus Henderson Group PLC boosted its position in Highwoods Properties by 4.3% during the 3rd quarter. Janus Henderson Group PLC now owns 207,935 shares of the real estate investment trust’s stock valued at $6,967,000 after acquiring an additional 8,511 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Highwoods Properties by 436.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 215,724 shares of the real estate investment trust’s stock valued at $7,229,000 after acquiring an additional 175,499 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Highwoods Properties in the 3rd quarter worth $306,000. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Stock Performance

HIW opened at $27.14 on Friday. The firm’s 50-day moving average price is $28.99 and its 200-day moving average price is $30.99. The company has a market cap of $2.92 billion, a P/E ratio of 28.57 and a beta of 1.25. 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 results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) 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%. As a group, equities analysts anticipate 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. Stockholders of record on Tuesday, February 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend was Tuesday, February 18th. Highwoods Properties’s dividend payout ratio is presently 210.53%.

Analysts Set New Price Targets

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

About Highwoods Properties

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.