Corebridge Financial Inc. Decreases Stock Holdings in Highwoods Properties, Inc. (NYSE:HIW)

Corebridge Financial Inc. cut its holdings in Highwoods Properties, Inc. (NYSE:HIW) by 9.7% in the fourth quarter, HoldingsChannel reports. The firm owned 4,463 shares of the real estate investment trust’s stock after selling 479 shares during the quarter. Corebridge Financial Inc.’s holdings in Highwoods Properties were worth $136,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HIW. BNP Paribas Financial Markets boosted its holdings in shares of Highwoods Properties by 65.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 2,587 shares during the period. Jane Street Group LLC lifted its position in Highwoods Properties by 87.9% in the third quarter. Jane Street Group LLC now owns 123,550 shares of the real estate investment trust’s stock worth $4,140,000 after buying an additional 57,787 shares during the last quarter. Barclays PLC boosted its stake in Highwoods Properties by 537.7% during the third quarter. Barclays PLC now owns 485,368 shares of the real estate investment trust’s stock worth $16,264,000 after buying an additional 409,258 shares during the period. M&T Bank Corp increased its position in Highwoods Properties by 3.7% during the third quarter. M&T Bank Corp now owns 19,141 shares of the real estate investment trust’s stock valued at $642,000 after acquiring an additional 682 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Highwoods Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock valued at $63,754,000 after acquiring an additional 12,958 shares during the period. Institutional investors own 96.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Mizuho lifted their price target on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Truist Financial dropped their target price on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, Jefferies Financial Group initiated coverage on Highwoods Properties in a report on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Highwoods Properties currently has a consensus rating of “Hold” and an average price target of $32.50.

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $27.15 on Tuesday. The firm’s 50 day simple moving average is $28.51 and its 200-day simple moving average is $30.60. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. Highwoods Properties, Inc. has a one year low of $23.52 and a one year high of $36.78. The firm has a market cap of $2.93 billion, a PE ratio of 28.58 and a beta of 1.15.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. As a group, equities analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date was Tuesday, February 18th. Highwoods Properties’s dividend payout ratio (DPR) is 210.53%.

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.