Highwoods Properties, Inc. $HIW Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Highwoods Properties, Inc. by 8.8%, now holding approximately 0.18% of the company, worth about $5.8 million.
• Highwoods Properties reported $0.89 earnings per share for the last quarter, exceeding expectations but reflecting a 2.0% decline in year-over-year revenue.
• The company has announced a quarterly dividend of $0.50 per share, reflecting a 6.4% yield and a payout ratio of 168.07%.

Raymond James Financial Inc. reduced its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 8.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,851 shares of the real estate investment trust's stock after selling 18,815 shares during the quarter. Raymond James Financial Inc. owned approximately 0.18% of Highwoods Properties worth $5,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HIW. Price T Rowe Associates Inc. MD increased its holdings in shares of Highwoods Properties by 7.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 68,511 shares of the real estate investment trust's stock worth $2,096,000 after buying an additional 4,996 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Highwoods Properties during the fourth quarter valued at about $652,000. Northern Trust Corp increased its stake in Highwoods Properties by 29.0% during the fourth quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock worth $56,721,000 after acquiring an additional 416,791 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Highwoods Properties by 54.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 41,321 shares of the real estate investment trust's stock worth $1,264,000 after acquiring an additional 14,567 shares during the last quarter. Finally, Algert Global LLC raised its holdings in shares of Highwoods Properties by 20.4% in the 4th quarter. Algert Global LLC now owns 130,111 shares of the real estate investment trust's stock worth $3,979,000 after purchasing an additional 22,038 shares during the period. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Stock Down 0.5%

NYSE HIW opened at $31.11 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $36.78. The business has a 50 day moving average price of $30.23 and a two-hundred day moving average price of $29.52. The stock has a market cap of $3.36 billion, a PE ratio of 26.14 and a beta of 1.27.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. The company had revenue of $200.60 million for the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, sell-side analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 18th will be paid a $0.50 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.4%. Highwoods Properties's payout ratio is 168.07%.

Analysts Set New Price Targets

HIW has been the subject of a number of research reports. Truist Financial boosted their target price on Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of 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. Wall Street Zen downgraded shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Finally, Mizuho raised their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $32.17.

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.

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