Algert Global LLC Buys 31,770 Shares of 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 stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 24.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings 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 buying an additional 2,852,877 shares during the last quarter. Invesco Ltd. increased its holdings 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 worth $87,719,000 after buying an additional 388,332 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Highwoods Properties by 29.0% in the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock worth $56,721,000 after buying an additional 416,791 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Highwoods Properties by 512.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock worth $38,961,000 after buying an additional 1,066,508 shares during the last quarter. Finally, CORDA Investment Management LLC. increased its holdings in shares of Highwoods Properties by 19.7% in the 1st quarter. CORDA Investment Management LLC. now owns 1,019,186 shares of the real estate investment trust's stock worth $30,209,000 after buying an additional 167,510 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Trading Up 2.3%

NYSE:HIW traded up $0.6730 during mid-day trading on Friday, hitting $29.8830. 753,479 shares of the stock traded hands, compared to its average volume of 1,313,654. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 25.11 and a beta of 1.21. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78. The firm's 50 day moving average is $30.32 and its two-hundred day moving average is $29.42. 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 (NYSE:HIW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 EPS for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $200.60 million for the quarter, compared to the consensus estimate of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The firm's revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, equities research analysts predict that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on HIW shares. Wall Street Zen downgraded shares of Highwoods Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Mizuho boosted their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company reduced their target price on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, Truist Financial downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a report on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $32.00.

About Highwoods Properties

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.