Advisors Asset Management Inc. Sells 21,645 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Advisors Asset Management Inc. reduced its holdings in Highwoods Properties by 49.6%, selling 21,645 shares in the first quarter, leaving them with 21,996 shares valued at approximately $652,000.
• Highwoods Properties reported a quarterly earnings per share of $0.89, exceeding expectations, but its revenue was down 2% year-over-year.
• The company announced a quarterly dividend of $0.50, offering an annualized yield of 6.3% with a high dividend payout ratio of 168.07%.

Advisors Asset Management Inc. lessened its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,996 shares of the real estate investment trust's stock after selling 21,645 shares during the period. Advisors Asset Management Inc.'s holdings in Highwoods Properties were worth $652,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HIW. POM Investment Strategies LLC bought a new stake in shares of Highwoods Properties during the 1st quarter worth $28,000. Avalon Trust Co bought a new position in shares of Highwoods Properties during the 1st quarter worth about $35,000. GF Fund Management CO. LTD. acquired a new stake in Highwoods Properties during the fourth quarter valued at approximately $59,000. Spirit of America Management Corp NY bought a new stake in Highwoods Properties in the first quarter valued at $59,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Highwoods Properties in the 1st quarter worth about $82,000. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Performance

HIW opened at $31.84 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. Highwoods Properties, Inc. has a 12-month low of $24.18 and a 12-month high of $36.78. The business has a 50 day moving average of $30.29 and a 200-day moving average of $29.61. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 26.75 and a beta of 1.27.

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 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The firm had revenue of $200.60 million for the quarter, compared to analysts' expectations of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The business's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, equities research analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend was Monday, August 18th. Highwoods Properties's dividend payout ratio (DPR) is 168.07%.

Analyst Ratings Changes

HIW has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Truist Financial boosted their price target on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Mizuho lifted their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $32.17.

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.

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