Bank of New York Mellon Corp Takes $38.59 Million Position in Highwoods Properties, Inc. $HIW

Key Points

• Bank of New York Mellon acquired 1.28 million shares of Highwoods Properties valued at approximately $38.6 million, giving it a 1.16% stake. Institutional investors collectively own 96.31% of the REIT.
• Analysts remain cautious, with one Buy rating and seven Holds; the stock has an average rating of Hold and a consensus price target of $31.67.
• Highwoods reported quarterly EPS of $0.85, slightly below estimates, while revenue rose 7.9% year over year. The company declared a $0.50 quarterly dividend, equivalent to a 6.4% yield, though its payout ratio is elevated at 131.58%.

Bank of New York Mellon Corp acquired a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,279,682 shares of the real estate investment trust's stock, valued at approximately $38,595,000. Bank of New York Mellon Corp owned 1.16% of Highwoods Properties at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HIW. Caitong International Asset Management Co. Ltd grew its stake in shares of Highwoods Properties by 88.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 372 shares during the period. California State Teachers Retirement System raised its position in shares of Highwoods Properties by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 98,051 shares of the real estate investment trust's stock valued at $3,048,000 after buying an additional 489 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Highwoods Properties by 3.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 19,896 shares of the real estate investment trust's stock valued at $514,000 after acquiring an additional 572 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in Highwoods Properties by 3.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 22,218 shares of the real estate investment trust's stock valued at $574,000 after acquiring an additional 720 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Highwoods Properties by 3.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 25,127 shares of the real estate investment trust's stock valued at $649,000 after acquiring an additional 808 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut 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. Truist Financial upped their price target on Highwoods Properties from $23.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, June 26th. Weiss Ratings upgraded Highwoods Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Mizuho raised their price objective on Highwoods Properties from $25.00 to $30.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 21st. Finally, Citigroup boosted their price objective on shares of Highwoods Properties from $24.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $31.67.

Highwoods Properties Stock Down 0.7%

NYSE:HIW opened at $31.16 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.37. The stock's fifty day moving average is $31.76 and its two-hundred day moving average is $26.86. Highwoods Properties, Inc. has a 52 week low of $20.45 and a 52 week high of $35.44. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 20.50 and a beta of 1.05.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.01). The firm had revenue of $216.38 million for the quarter, compared to analysts' expectations of $212.15 million. Highwoods Properties had a return on equity of 7.06% and a net margin of 20.74%.The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Research analysts anticipate that Highwoods Properties, Inc. will post 3.53 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 17th. Highwoods Properties's payout ratio is currently 131.58%.

Highwoods Properties Company Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company's portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.

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