Corient Private Wealth LP Sells 40,685 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Corient Private Wealth reduced its Highwoods Properties stake by 10.4%, selling 40,685 shares in the second quarter and retaining 349,259 shares valued at approximately $10.5 million. Institutional investors collectively own 96.31% of HIW.
• Highwoods Properties reported quarterly revenue of $216.38 million, up 7.9% year over year and above estimates, but EPS of $0.85 narrowly missed the $0.86 consensus. Analysts maintain a consensus “Hold” rating with an average price target of $32.56.
• The REIT paid a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a 6.5% yield; however, its payout ratio stands at 131.58%.

Corient Private Wealth LP decreased its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 349,259 shares of the real estate investment trust's stock after selling 40,685 shares during the period. Corient Private Wealth LP owned 0.32% of Highwoods Properties worth $10,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIW. Amundi grew its stake in shares of Highwoods Properties by 4.3% during the second quarter. Amundi now owns 87,182 shares of the real estate investment trust's stock worth $2,629,000 after purchasing an additional 3,600 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Highwoods Properties in the 2nd quarter valued at approximately $228,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Highwoods Properties during the 2nd quarter worth approximately $1,966,000. Readystate Asset Management LP bought a new position in Highwoods Properties during the 2nd quarter worth approximately $269,000. Finally, Syon Capital LLC acquired a new position in Highwoods Properties during the second quarter valued at approximately $688,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Stock Performance

NYSE HIW opened at $30.70 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37. The firm's fifty day moving average price is $31.81 and its two-hundred day moving average price is $27.55. Highwoods Properties, Inc. has a 1 year low of $20.45 and a 1 year high of $35.44. The firm has a market capitalization of $3.39 billion, a P/E ratio of 20.20 and a beta of 1.05.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its quarterly earnings data 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). Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business had revenue of $216.38 million during the quarter, compared to the consensus estimate of $212.15 million. During the same quarter in the prior year, the company earned $0.89 EPS. Highwoods Properties's quarterly revenue was up 7.9% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. As a group, research analysts anticipate that Highwoods Properties, Inc. will post 3.55 EPS for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Monday, August 17th. Highwoods Properties's dividend payout ratio is presently 131.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HIW shares. Truist Financial upped their target price on shares of Highwoods Properties from $23.00 to $30.00 and gave the company a "hold" rating in a research note on Friday, June 26th. Mizuho set a $32.00 price target on shares of Highwoods Properties in a report on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 price objective for the company. in a research report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on Highwoods Properties from $26.00 to $32.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 1st. Finally, Morgan Stanley boosted their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Highwoods Properties has an average rating of "Hold" and a consensus target price of $32.56.

About Highwoods Properties

Highwoods Properties, Inc NYSE: HIW is a real estate investment trust that owns, develops, leases and manages primarily office properties. The company focuses on high-quality buildings in central business districts and other prominent business locations, serving corporate, professional services, healthcare and government tenants.

Highwoods' portfolio is concentrated in selected Sun Belt markets, including Atlanta, Charlotte, Nashville, Raleigh, Richmond, Orlando and Tampa. In addition to traditional office buildings, the company has developed and owns mixed-use properties that may include retail, residential, hospitality and entertainment components.

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