AQR Capital Management LLC Grows Position in Highwoods Properties, Inc. $HIW

Key Points

• AQR Capital Management LLC increased its holdings in Highwoods Properties by 10.1% during the first quarter, now owning approximately 688,858 shares valued at $20.2 million.
• Highwoods Properties recently reported earnings per share of $0.89, exceeding analyst expectations, despite a revenue decline of 2.0% compared to the previous year.
• The company announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 6.2%, although it has a high dividend payout ratio of 168.07%.

AQR Capital Management LLC raised its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 10.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 688,858 shares of the real estate investment trust's stock after purchasing an additional 62,928 shares during the period. AQR Capital Management LLC owned 0.64% of Highwoods Properties worth $20,221,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. POM Investment Strategies LLC bought a new stake in Highwoods Properties during the 1st quarter valued at $28,000. Avalon Trust Co purchased a new stake in Highwoods Properties during the first quarter valued at about $35,000. GF Fund Management CO. LTD. bought a new stake in Highwoods Properties during the 4th quarter worth approximately $59,000. Spirit of America Management Corp NY bought a new stake in Highwoods Properties during the 1st quarter worth approximately $59,000. Finally, Bayforest Capital Ltd purchased a new stake in Highwoods Properties in the first quarter valued at approximately $82,000. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Trading Up 0.5%

HIW traded up $0.16 during trading on Friday, reaching $32.48. The company had a trading volume of 371,865 shares, compared to its average volume of 1,011,955. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78. The stock has a market cap of $3.51 billion, a P/E ratio of 27.26 and a beta of 1.27. The business has a 50 day simple moving average of $30.31 and a 200-day simple moving average of $29.63. 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 released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, equities analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.2%. Highwoods Properties's payout ratio is presently 168.07%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HIW shares. Wall Street Zen downgraded shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Wells Fargo & Company cut their price target 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. Mizuho lifted their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Truist Financial boosted their target price on shares of Highwoods Properties from $32.00 to $33.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Highwoods Properties currently has an average rating of "Hold" and a consensus price target of $32.17.

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.