Balyasny Asset Management L.P. Invests $824,000 in Highwoods Properties, Inc. (NYSE:HIW)

Balyasny Asset Management L.P. acquired a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,961 shares of the real estate investment trust's stock, valued at approximately $824,000.

Several other institutional investors have also recently made changes to their positions in HIW. Barclays PLC grew its position in Highwoods Properties by 537.7% in the 3rd quarter. Barclays PLC now owns 485,368 shares of the real estate investment trust's stock worth $16,264,000 after purchasing an additional 409,258 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Highwoods Properties by 36.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,766 shares of the real estate investment trust's stock worth $299,000 after purchasing an additional 2,610 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Highwoods Properties by 5.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 70,906 shares of the real estate investment trust's stock worth $2,168,000 after purchasing an additional 3,362 shares in the last quarter. Perpetual Ltd bought a new stake in Highwoods Properties in the 4th quarter worth about $822,000. Finally, Janney Montgomery Scott LLC grew its position in Highwoods Properties by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,025 shares of the real estate investment trust's stock worth $490,000 after purchasing an additional 1,970 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Stock Performance

Highwoods Properties stock traded down $0.09 during mid-day trading on Tuesday, reaching $30.13. The company's stock had a trading volume of 313,513 shares, compared to its average volume of 912,815. Highwoods Properties, Inc. has a 12-month low of $24.07 and a 12-month high of $36.78. The company has a market capitalization of $3.25 billion, a P/E ratio of 31.70 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. The firm's fifty day moving average price is $28.44 and its two-hundred day moving average price is $29.67.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. The firm had revenue of $200.38 million during the quarter, compared to the consensus estimate of $201.31 million. During the same period last year, the firm earned $0.89 EPS. The business's quarterly revenue was down 5.2% compared to the same quarter last year. Sell-side analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties's payout ratio is 124.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HIW shares. StockNews.com raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Wells Fargo & Company reduced their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday. Jefferies Financial Group initiated coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Truist Financial decreased their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.83.

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.