Highwoods Properties, Inc. $HIW Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 2.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,254,633 shares of the real estate investment trust’s stock after buying an additional 26,052 shares during the period. Bank of New York Mellon Corp’s holdings in Highwoods Properties were worth $39,007,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in HIW. Bank of Montreal Can boosted its stake in shares of Highwoods Properties by 57.4% during the second quarter. Bank of Montreal Can now owns 57,570 shares of the real estate investment trust’s stock valued at $1,790,000 after acquiring an additional 21,003 shares during the last quarter. Presima Securities ULC lifted its holdings in Highwoods Properties by 2.2% in the 2nd quarter. Presima Securities ULC now owns 54,501 shares of the real estate investment trust’s stock valued at $1,694,000 after purchasing an additional 1,149 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Highwoods Properties during the 2nd quarter worth about $120,000. Simon Quick Advisors LLC grew its holdings in shares of Highwoods Properties by 131.7% during the second quarter. Simon Quick Advisors LLC now owns 18,261 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 10,378 shares in the last quarter. Finally, Impact Partnership Wealth LLC grew its holdings in shares of Highwoods Properties by 110.2% during the second quarter. Impact Partnership Wealth LLC now owns 14,268 shares of the real estate investment trust’s stock worth $444,000 after buying an additional 7,481 shares in the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

Highwoods Properties Trading Down 0.7%

Shares of HIW stock opened at $29.06 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.39 and a debt-to-equity ratio of 1.44. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $33.11. The firm’s 50 day moving average price is $30.61 and its two-hundred day moving average price is $30.35. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 24.83 and a beta of 1.20.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. Highwoods Properties had a net margin of 15.98% and a return on equity of 5.48%. The business had revenue of $201.77 million for the quarter, compared to the consensus estimate of $205.74 million. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. On average, analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Monday, November 17th will be paid a $0.50 dividend. The ex-dividend date is Monday, November 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.9%. Highwoods Properties’s dividend payout ratio (DPR) is 170.94%.

Insider Activity

In related news, Director David John Hartzell sold 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $32.10, for a total transaction of $138,030.00. Following the transaction, the director directly owned 27,489 shares of the company’s stock, valued at approximately $882,396.90. The trade was a 13.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HIW. Truist Financial raised their target price on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Highwoods Properties in a report on Wednesday, October 8th. Wolfe Research began coverage on Highwoods Properties in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $38.00 target price for the company. Wells Fargo & Company reduced their target price on Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Wall Street Zen cut Highwoods Properties from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Highwoods Properties has an average rating of “Hold” and an average target price of $31.00.

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.