Allianz Asset Management GmbH Raises Stake in Highwoods Properties, Inc. $HIW

Key Points

• Allianz Asset Management GmbH raised its stake in Highwoods Properties by 4.2%, owning approximately 0.56% of the company worth $18.75 million following the purchase of an additional 24,035 shares.
• Highwoods Properties recently declared a quarterly dividend of $0.50, representing a 6.7% yield, although its dividend payout ratio is notably high at 168.07%.
• Research analysts have varied perspectives on the stock, with Mizuho raising its price target from $29.00 to $30.00 and Wolfe Research setting a target of $38.00 while most analysts give the stock a consensus rating of "Hold."

Allianz Asset Management GmbH increased its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 603,162 shares of the real estate investment trust's stock after buying an additional 24,035 shares during the period. Allianz Asset Management GmbH owned about 0.56% of Highwoods Properties worth $18,752,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in 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. Invesco Ltd. lifted its stake in shares of Highwoods Properties by 15.1% during the 1st quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock worth $87,719,000 after purchasing an additional 388,332 shares during the period. Nuveen LLC purchased a new position in shares of Highwoods Properties during the 1st quarter worth $9,331,000. Eisler Capital Management Ltd. purchased a new position in shares of Highwoods Properties during the 1st quarter worth $6,811,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Highwoods Properties by 66.3% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 549,136 shares of the real estate investment trust's stock worth $16,276,000 after purchasing an additional 218,980 shares during the period. Institutional investors and hedge funds own 96.31% of the company's stock.

Insider Transactions at Highwoods Properties

In related news, Director David John Hartzell sold 4,300 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $32.10, for a total value of $138,030.00. Following the completion of the sale, the director directly owned 27,489 shares in the company, valued at approximately $882,396.90. This represents a 13.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho increased their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Highwoods Properties in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on Highwoods Properties in a research note on Wednesday, October 8th. They set an "outperform" rating and a $38.00 price target on the stock. Truist Financial increased their price target on Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a research note on Wednesday, September 3rd. Finally, New Street Research set a $30.00 price objective on Highwoods Properties in a report on Monday, October 13th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $32.29.

Highwoods Properties Trading Up 1.0%

HIW stock opened at $30.01 on Monday. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 25.21 and a beta of 1.24. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. The business has a fifty day simple moving average of $30.93 and a 200-day simple moving average of $30.09. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last released 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 business had revenue of $200.60 million during the quarter, compared to the consensus estimate of $203.22 million. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The business's revenue for the quarter was down 2.0% on a year-over-year basis. 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 expect that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.7%. 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.

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