Algert Global LLC Boosts Stock Holdings in Highwoods Properties, Inc. $HIW

Key Points

• Algert Global LLC increased its stake in Highwoods Properties, Inc. by 24.4%, now owning 161,881 shares worth approximately $4.8 million.
• Highwoods Properties recently announced a quarterly dividend of $0.50 per share, reflecting a 6.9% yield, with the payout planned for September 9th.
• A variety of analysts have downgraded Highwoods Properties' ratings, with Wells Fargo reducing their price target from $35.00 to $31.00 and calling for an "equal weight" rating.

Algert Global LLC boosted its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,881 shares of the real estate investment trust's stock after purchasing an additional 31,770 shares during the quarter. Algert Global LLC owned about 0.15% of Highwoods Properties worth $4,798,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HIW. Massachusetts Financial Services Co. MA lifted its position in shares of Highwoods Properties by 87.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,118,701 shares of the real estate investment trust's stock worth $181,358,000 after acquiring an additional 2,852,877 shares during the period. Janus Henderson Group PLC increased its holdings in Highwoods Properties by 512.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock valued at $38,961,000 after purchasing an additional 1,066,508 shares in the last quarter. Northern Trust Corp increased its holdings in Highwoods Properties by 29.0% during the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock valued at $56,721,000 after purchasing an additional 416,791 shares in the last quarter. Invesco Ltd. increased its stake in shares of Highwoods Properties by 15.1% in the 1st quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock valued at $87,719,000 after buying an additional 388,332 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Highwoods Properties in the 1st quarter valued at $9,331,000. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Up 2.3%

HIW stock traded up $0.6730 during trading on Friday, reaching $29.8830. 753,479 shares of the stock were exchanged, compared to its average volume of 1,312,695. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. The firm's 50 day moving average is $30.32 and its 200 day moving average is $29.42. The firm has a market cap of $3.23 billion, a P/E ratio of 25.11 and a beta of 1.21. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. The firm had revenue of $200.60 million during the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, research analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.7%. Highwoods Properties's dividend payout ratio is currently 168.07%.

Analysts Set New Price Targets

HIW has been the subject of several research reports. Truist Financial cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Wednesday, July 2nd. Mizuho raised their price target on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company decreased their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen lowered Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $32.00.

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.