CORDA Investment Management LLC. Makes New Investment in Highwoods Properties, Inc. $HIW

Key Points

• CORDA Investment Management bought 1.28 million shares of Highwoods Properties worth approximately $38.7 million, making HIW its 18th-largest holding and representing about 1.16% 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 announced a $0.50 quarterly dividend, a 6.3% yield, and authorized a $250 million share-repurchase program.

CORDA Investment Management LLC. purchased a new position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,284,718 shares of the real estate investment trust's stock, valued at approximately $38,747,000. Highwoods Properties comprises about 2.4% of CORDA Investment Management LLC.'s holdings, making the stock its 18th largest holding. CORDA Investment Management LLC. owned about 1.16% of Highwoods Properties at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HIW. Caitong International Asset Management Co. Ltd grew its position in Highwoods Properties by 88.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 372 shares in the last quarter. California State Teachers Retirement System raised its position in Highwoods Properties by 0.5% during the second 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 purchasing an additional 489 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Highwoods Properties by 3.0% during 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 purchasing an additional 572 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in Highwoods Properties by 3.3% during the fourth quarter. Maryland State Retirement & Pension System now owns 22,218 shares of the real estate investment trust's stock worth $574,000 after purchasing an additional 720 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Highwoods Properties by 33.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,159 shares of the real estate investment trust's stock worth $82,000 after purchasing an additional 797 shares during the last quarter. 96.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

HIW has been the subject of a number of research reports. Mizuho upped their price objective on Highwoods Properties from $25.00 to $30.00 and gave the stock a "neutral" rating in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 price objective on the stock. in a report on Wednesday, August 5th. Weiss Ratings upgraded Highwoods Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. Truist Financial increased their price target on shares of Highwoods Properties from $23.00 to $30.00 and gave the company a "hold" rating in a research report on Friday, June 26th. Finally, Wells Fargo & Company lifted their price target on shares of Highwoods Properties from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $31.67.

Highwoods Properties Trading Down 0.9%

NYSE HIW opened at $31.52 on Friday. The firm has a market cap of $3.48 billion, a PE ratio of 20.74 and a beta of 1.05. Highwoods Properties, Inc. has a 1-year low of $20.45 and a 1-year high of $35.44. The stock has a 50-day moving average of $31.39 and a 200-day moving average of $26.48. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37.

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

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a $0.50 dividend. The ex-dividend date is Monday, August 17th. This represents a $2.00 annualized dividend and a dividend yield of 6.3%. Highwoods Properties's dividend payout ratio (DPR) is currently 131.58%.

Highwoods Properties announced that its board has approved a share buyback plan on Wednesday, April 22nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 9.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

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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