Charles Schwab Investment Management Inc. Sells 79,849 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Highwoods Properties by 3.7% in the 1st quarter, now owning approximately 1.90% of the company, valued at $60.86 million.
• Highwoods Properties reported quarterly earnings of $0.89 per share, exceeding analysts' expectations, despite a 2% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.50 per share, with a yield of 6.8%, reflecting a high dividend payout ratio of 168.07%.

Charles Schwab Investment Management Inc. reduced its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,053,393 shares of the real estate investment trust's stock after selling 79,849 shares during the period. Charles Schwab Investment Management Inc. owned 1.90% of Highwoods Properties worth $60,863,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HIW. LPL Financial LLC raised its holdings in Highwoods Properties by 7.9% during the fourth quarter. LPL Financial LLC now owns 40,266 shares of the real estate investment trust's stock valued at $1,231,000 after buying an additional 2,931 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Highwoods Properties in the fourth quarter valued at about $6,565,000. Mariner LLC grew its position in shares of Highwoods Properties by 6.8% in the fourth quarter. Mariner LLC now owns 37,689 shares of the real estate investment trust's stock valued at $1,152,000 after purchasing an additional 2,404 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Highwoods Properties in the fourth quarter valued at about $1,314,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Highwoods Properties by 5.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 248,879 shares of the real estate investment trust's stock valued at $7,603,000 after purchasing an additional 12,722 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HIW. Wells Fargo & Company lowered their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Monday, May 19th. Mizuho raised their price target on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen downgraded Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Truist Financial downgraded Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Highwoods Properties has a consensus rating of "Hold" and an average price target of $32.00.

Highwoods Properties Stock Performance

HIW stock traded down $0.20 during trading on Wednesday, reaching $29.29. 1,057,811 shares of the stock were exchanged, compared to its average volume of 1,279,748. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $36.78. The company has a market capitalization of $3.17 billion, a P/E ratio of 24.61 and a beta of 1.21. The stock has a 50 day simple moving average of $30.40 and a 200-day simple moving average of $29.41. The company has a current ratio of 1.38, a quick 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 analysts' consensus estimates of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The business had revenue of $200.60 million for the quarter, compared to the consensus estimate of $203.22 million. During the same period last year, the business earned $0.98 earnings per share. The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Monday, August 18th. Highwoods Properties's payout ratio is presently 168.07%.

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.