Highwoods Properties, Inc. (NYSE:HIW) Stake Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 19.3% in the 4th quarter, Holdings Channel reports. The firm owned 257,300 shares of the real estate investment trust’s stock after purchasing an additional 41,576 shares during the quarter. Point72 Asset Management L.P.’s holdings in Highwoods Properties were worth $7,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in HIW. Quantinno Capital Management LP boosted its holdings in shares of Highwoods Properties by 31.5% in the 4th quarter. Quantinno Capital Management LP now owns 330,740 shares of the real estate investment trust’s stock valued at $10,114,000 after buying an additional 79,256 shares during the period. Man Group plc acquired a new stake in Highwoods Properties during the fourth quarter worth about $489,000. Nissay Asset Management Corp Japan ADV lifted its holdings in Highwoods Properties by 4.1% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 15,001 shares of the real estate investment trust’s stock worth $455,000 after acquiring an additional 593 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Highwoods Properties by 53.9% in the fourth quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust’s stock valued at $9,653,000 after acquiring an additional 110,571 shares during the period. Finally, Millennium Management LLC boosted its stake in Highwoods Properties by 29.5% in the fourth quarter. Millennium Management LLC now owns 78,495 shares of the real estate investment trust’s stock valued at $2,400,000 after acquiring an additional 17,891 shares during the period. Institutional investors own 96.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HIW shares. Truist Financial dropped their price target on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group assumed coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $32.00 target price on the stock. Finally, StockNews.com raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock 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 $30.89 on Monday. Highwoods Properties, Inc. has a 12-month low of $24.07 and a 12-month high of $36.78. The company has a market cap of $3.33 billion, a PE ratio of 32.52 and a beta of 1.20. The stock has a 50 day simple moving average of $28.40 and a 200-day simple moving average of $29.69. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. The company had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. During the same quarter in the previous year, the firm posted $0.89 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.47%. The ex-dividend date is Monday, May 19th. Highwoods Properties’s payout ratio is currently 124.22%.

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.