BROOKFIELD Corp ON Buys New Position in Highwoods Properties, Inc. $HIW

Key Points

• BROOKFIELD Corp ON acquired 43,893 shares of Highwoods Properties, Inc. for approximately $1.3 million, marking a significant investment in the real estate investment trust during the first quarter.
• Highwoods Properties recently announced a quarterly dividend of $0.50 per share, equating to a 6.2% yield, although its payout ratio stands at 168.07%.
• Analysts have mixed views on Highwoods Properties, with target prices ranging from $30.00 to $33.00, and the stock currently holds an average rating of "Hold" with projections for a modest earnings per share growth.

BROOKFIELD Corp ON purchased a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,893 shares of the real estate investment trust's stock, valued at approximately $1,301,000.

Several other institutional investors have also recently added to or reduced their stakes in HIW. BNP Paribas Financial Markets raised its holdings in Highwoods Properties by 13.4% in the fourth quarter. BNP Paribas Financial Markets now owns 7,441 shares of the real estate investment trust's stock valued at $228,000 after acquiring an additional 879 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Highwoods Properties during the fourth quarter valued at $824,000. Cetera Investment Advisers increased its stake in Highwoods Properties by 26.0% during the fourth quarter. Cetera Investment Advisers now owns 12,699 shares of the real estate investment trust's stock valued at $388,000 after purchasing an additional 2,619 shares during the last quarter. Cresset Asset Management LLC bought a new stake in Highwoods Properties during the fourth quarter valued at $296,000. Finally, Deutsche Bank AG increased its stake in Highwoods Properties by 276.0% during the fourth quarter. Deutsche Bank AG now owns 212,304 shares of the real estate investment trust's stock valued at $6,492,000 after purchasing an additional 155,843 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on HIW shares. Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Saturday. Truist Financial boosted their target price on shares of Highwoods Properties from $32.00 to $33.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Finally, Mizuho boosted their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $32.17.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded down $0.13 during trading on Wednesday, hitting $32.08. 336,940 shares of the stock were exchanged, compared to its average volume of 1,012,747. The stock's fifty day moving average is $30.38 and its 200 day moving average is $29.71. The stock has a market cap of $3.47 billion, a PE ratio of 26.95 and a beta of 1.27. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. Highwoods Properties, Inc. has a 12 month low of $24.18 and a 12 month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $200.60 million during the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, sell-side 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 was paid on Tuesday, September 9th. Investors of record on Monday, August 18th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, August 18th. Highwoods Properties's dividend payout ratio is currently 168.07%.

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.