PNC Financial Services Group Inc. Sells 1,993 Shares of Highwoods Properties, Inc. (NYSE:HIW)

PNC Financial Services Group Inc. trimmed its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,376 shares of the real estate investment trust’s stock after selling 1,993 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Highwoods Properties were worth $238,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Jump Financial LLC raised its position in shares of Highwoods Properties by 383.5% during the 4th quarter. Jump Financial LLC now owns 220,426 shares of the real estate investment trust’s stock valued at $5,061,000 after buying an additional 174,836 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at about $1,333,000. Qube Research & Technologies Ltd raised its position in shares of Highwoods Properties by 472.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 162,397 shares of the real estate investment trust’s stock valued at $3,347,000 after buying an additional 134,015 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Highwoods Properties by 162.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 59,826 shares of the real estate investment trust’s stock valued at $1,374,000 after buying an additional 37,002 shares in the last quarter. Finally, Congress Asset Management Co. MA raised its position in shares of Highwoods Properties by 380.0% during the 4th quarter. Congress Asset Management Co. MA now owns 131,015 shares of the real estate investment trust’s stock valued at $3,008,000 after buying an additional 103,721 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $26.43 on Tuesday. The firm has a market cap of $2.80 billion, a PE ratio of 21.66 and a beta of 1.27. The firm’s 50 day simple moving average is $25.98 and its 200-day simple moving average is $24.56. Highwoods Properties, Inc. has a one year low of $17.06 and a one year high of $28.45. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.34 and a current ratio of 1.34.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.57%. Highwoods Properties’s dividend payout ratio is presently 163.93%.

Analyst Ratings Changes

A number of analysts recently weighed in on HIW shares. Morgan Stanley increased their price objective on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Highwoods Properties has a consensus rating of “Hold” and an average target price of $24.75.

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.