First Trust Advisors LP increased its position in Highwoods Properties, Inc. (NYSE:HIW – Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 150,178 shares of the real estate investment trust’s stock after buying an additional 37,848 shares during the quarter. First Trust Advisors LP’s holdings in Highwoods Properties were worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in Highwoods Properties by 127.6% during the first quarter. PNC Financial Services Group Inc. now owns 13,803 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 7,738 shares during the period. Parallel Advisors LLC increased its stake in Highwoods Properties by 53.8% during the first quarter. Parallel Advisors LLC now owns 6,732 shares of the real estate investment trust’s stock worth $144,000 after acquiring an additional 2,355 shares during the last quarter. Swiss National Bank raised its holdings in shares of Highwoods Properties by 2.1% in the 1st quarter. Swiss National Bank now owns 217,502 shares of the real estate investment trust’s stock worth $4,657,000 after purchasing an additional 4,400 shares during the period. Kera Capital Partners Inc. raised its holdings in shares of Highwoods Properties by 143.4% in the 1st quarter. Kera Capital Partners Inc. now owns 20,477 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 12,064 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Highwoods Properties by 21.3% in the 1st quarter. Assetmark Inc. now owns 51,095 shares of the real estate investment trust’s stock valued at $1,094,000 after purchasing an additional 8,957 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.
Analyst Upgrades and Downgrades
HIW has been the subject of a number of research reports. Morgan Stanley boosted their target price on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Mizuho raised their price target on shares of Highwoods Properties from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Truist Financial lifted their price target on shares of Highwoods Properties from $23.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Wednesday. Finally, Citigroup increased their price objective on shares of Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Highwoods Properties has a consensus rating of “Hold” and a consensus target price of $31.67.
Highwoods Properties Price Performance
Shares of NYSE HIW opened at $31.53 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.37. Highwoods Properties, Inc. has a fifty-two week low of $20.45 and a fifty-two week high of $35.44. The business has a 50 day moving average price of $30.86 and a two-hundred day moving average price of $26.29. The firm has a market cap of $3.48 billion, a PE ratio of 20.74 and a beta of 1.05.
Highwoods Properties (NYSE:HIW – Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). The business had revenue of $216.38 million during the quarter, compared to analyst estimates of $212.15 million. Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Sell-side analysts expect that Highwoods Properties, Inc. will post 3.53 earnings per share for the current fiscal year.
Highwoods Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 6.3%. Highwoods Properties’s dividend payout ratio is currently 131.58%.
Highwoods Properties announced that its board has authorized a stock buyback program on Wednesday, April 22nd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 9.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
About Highwoods Properties
Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.
Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.
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