Aew Capital Management Inc. Purchases New Holdings in Highwoods Properties, Inc. $HIW

Key Points

• Aew Capital Management initiated a sizable position in Highwoods Properties, buying 1.17 million shares valued at about $33.8 million. The stake represents approximately 1.06% of the REIT and 2.2% of the firm’s portfolio.
• Highwoods reported quarterly EPS of $0.29, beating the $0.21 consensus, while revenue rose 8.1% year over year to $218.18 million.
• The REIT declared a $0.50 quarterly dividend, equivalent to a 6.4% yield, though its payout ratio is 118.34%. Analysts’ consensus rating was Hold, with an average price target of $32.

Aew Capital Management Inc. purchased a new position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,165,262 shares of the real estate investment trust's stock, valued at approximately $33,816,000. Highwoods Properties accounts for about 2.2% of Aew Capital Management Inc.'s investment portfolio, making the stock its 19th largest position. Aew Capital Management Inc. owned approximately 1.06% of Highwoods Properties at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HIW. Kestra Advisory Services LLC lifted its holdings in Highwoods Properties by 5.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 17,438 shares of the real estate investment trust's stock worth $506,000 after buying an additional 934 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Highwoods Properties by 752.0% in the second quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust's stock valued at $32,000 after acquiring an additional 940 shares in the last quarter. Pension & Wealth Management Advisors Inc. acquired a new stake in Highwoods Properties in the third quarter valued at $28,000. Lazard Asset Management LLC boosted its stake in Highwoods Properties by 6.3% during the 1st quarter. Lazard Asset Management LLC now owns 17,814 shares of the real estate investment trust's stock valued at $381,000 after acquiring an additional 1,050 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Highwoods Properties by 3.0% during the 2nd quarter. Van ECK Associates Corp now owns 35,955 shares of the real estate investment trust's stock valued at $1,084,000 after acquiring an additional 1,054 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Price Performance

Shares of NYSE HIW opened at $31.11 on Thursday. Highwoods Properties, Inc. has a fifty-two week low of $20.45 and a fifty-two week high of $35.44. The firm's 50-day simple moving average is $30.19 and its 200 day simple moving average is $27.69. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.38. The stock has a market cap of $3.43 billion, a P/E ratio of 18.41 and a beta of 1.08.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.08. Highwoods Properties had a net margin of 22.56% and a return on equity of 7.68%. The business had revenue of $218.18 million during the quarter, compared to analysts' expectations of $216.39 million. During the same period last year, the firm posted $0.86 earnings per share. The business's revenue was up 8.1% on a year-over-year basis. Equities analysts expect that Highwoods Properties, Inc. will post 3.57 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, November 16th. Highwoods Properties's dividend payout ratio (DPR) is 118.34%.

Analysts Set New Price Targets

Several brokerages have issued reports on HIW. Citigroup upped their price objective on Highwoods Properties from $24.00 to $34.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Deutsche Bank lowered shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Highwoods Properties in a research report on Thursday, October 29th. Mizuho set a $32.00 target price on Highwoods Properties in a report on Tuesday, September 8th. Finally, Huntington began coverage on Highwoods Properties in a research report on Wednesday, October 28th. They set a "hold" rating on the stock. Eight investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $32.00.

About Highwoods Properties

Highwoods Properties, Inc. is a real estate investment trust that owns, develops, leases and manages office properties. Its portfolio is concentrated in business districts across the U.S. Sun Belt, including markets such as Atlanta, Charlotte, Nashville, Raleigh and Tampa. The company provides office space and related property management services to businesses across a range of industries. Its work includes developing and maintaining properties as well as leasing space to commercial tenants. Highwoods is headquartered in Raleigh, North Carolina.

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