Highwoods Properties, Inc. $HIW Shares Purchased by CORDA Investment Management LLC.

Key Points

• CORDA Investment Management increased its stake in Highwoods Properties by 27.8% in the first quarter, buying an additional 278,504 shares and bringing its total to 1,281,348 shares valued at about $27.4 million.
• Highwoods Properties reported better-than-expected quarterly earnings, posting $0.29 EPS versus the $0.16 consensus estimate, while revenue rose 6.8% year over year to $214.03 million.
• The REIT recently declared a $0.50 quarterly dividend and authorized a $250 million share repurchase program, while analysts currently rate the stock a consensus Hold with an average price target of $28.11.

CORDA Investment Management LLC. raised its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 27.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,281,348 shares of the real estate investment trust's stock after purchasing an additional 278,504 shares during the quarter. Highwoods Properties accounts for approximately 1.9% of CORDA Investment Management LLC.'s portfolio, making the stock its 25th largest position. CORDA Investment Management LLC. owned about 1.16% of Highwoods Properties worth $27,434,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Highwoods Properties by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 16,903,497 shares of the real estate investment trust's stock valued at $436,448,000 after acquiring an additional 407,406 shares during the period. State Street Corp increased its stake in Highwoods Properties by 1.2% during the 4th quarter. State Street Corp now owns 6,699,130 shares of the real estate investment trust's stock worth $172,972,000 after buying an additional 81,348 shares during the period. Aew Capital Management L P boosted its position in Highwoods Properties by 3.8% in the 4th quarter. Aew Capital Management L P now owns 2,433,243 shares of the real estate investment trust's stock valued at $62,826,000 after buying an additional 88,672 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Highwoods Properties by 0.7% in the third quarter. Daiwa Securities Group Inc. now owns 2,205,348 shares of the real estate investment trust's stock worth $70,174,000 after acquiring an additional 14,410 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Highwoods Properties by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,149,230 shares of the real estate investment trust's stock valued at $55,503,000 after acquiring an additional 16,327 shares in the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

Highwoods Properties Trading Up 0.0%

NYSE HIW opened at $31.23 on Monday. Highwoods Properties, Inc. has a one year low of $20.45 and a one year high of $32.76. The firm has a market cap of $3.44 billion, a PE ratio of 37.18 and a beta of 1.07. The firm's fifty day moving average is $28.07 and its two-hundred day moving average is $25.40. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.50 and a current ratio of 1.50.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. Highwoods Properties had a return on equity of 3.97% and a net margin of 11.64%.The firm had revenue of $214.03 million during the quarter, compared to the consensus estimate of $209.06 million. During the same period in the prior year, the business earned $0.83 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. Analysts expect that Highwoods Properties, Inc. will post 3.53 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Monday, May 18th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Monday, May 18th. Highwoods Properties's payout ratio is currently 238.10%.

Highwoods Properties announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 22nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have issued reports on HIW. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $28.00 price target on shares of Highwoods Properties in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Monday, March 23rd. Morgan Stanley raised Highwoods Properties from an "underweight" rating to an "equal weight" rating and decreased their price target for the stock from $24.00 to $23.00 in a report on Tuesday, March 31st. Wells Fargo & Company raised their target price on Highwoods Properties from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Finally, Weiss Ratings raised shares of Highwoods Properties from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 9th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Highwoods Properties has a consensus rating of "Hold" and an average target price of $28.11.

About Highwoods Properties

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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