Vident Advisory LLC Sells 22,288 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Vident Advisory LLC reduced its stake in Highwoods Properties by 32.7%, selling 22,288 shares and holding 45,833 shares worth approximately $1.36 million as of their latest SEC filing.
• Highwoods Properties reported a quarterly revenue of $200.6 million, which was lower than the consensus estimate of $203.22 million, and posted earnings per share of $0.89, beating expectations by $0.04.
• The company recently declared a quarterly dividend of $0.50 per share, with an upcoming payable date on September 9th and a yield of 6.4%.

Vident Advisory LLC reduced its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 32.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,833 shares of the real estate investment trust's stock after selling 22,288 shares during the quarter. Vident Advisory LLC's holdings in Highwoods Properties were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of HIW. Wealth Enhancement Advisory Services LLC boosted its position in shares of Highwoods Properties by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust's stock worth $248,000 after acquiring an additional 383 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Highwoods Properties by 10.3% during the first quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust's stock worth $156,000 after acquiring an additional 493 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Highwoods Properties by 7.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,908 shares of the real estate investment trust's stock valued at $205,000 after purchasing an additional 496 shares during the last quarter. US Bancorp DE lifted its position in Highwoods Properties by 2.5% during the first quarter. US Bancorp DE now owns 22,514 shares of the real estate investment trust's stock valued at $667,000 after purchasing an additional 558 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Highwoods Properties by 3.4% during the first quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock valued at $507,000 after purchasing an additional 560 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HIW. Truist Financial increased their price objective on shares of Highwoods Properties from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Wells Fargo & Company lowered their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Finally, Mizuho increased 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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $32.17.

Highwoods Properties Trading Down 1.3%

HIW stock traded down $0.41 during trading on Monday, hitting $31.44. The company had a trading volume of 157,190 shares, compared to its average volume of 1,005,496. The firm has a market capitalization of $3.40 billion, a P/E ratio of 26.43 and a beta of 1.27. Highwoods Properties, Inc. has a 52-week low of $24.18 and a 52-week high of $36.78. The company has a 50 day simple moving average of $30.24 and a 200-day simple moving average of $29.56. 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 (NYSE:HIW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The company had revenue of $200.60 million for the quarter, compared to analysts' expectations of $203.22 million. During the same period in the prior year, the business earned $0.98 EPS. The firm's quarterly revenue was down 2.0% on a year-over-year basis. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, research analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

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

Highwoods Properties Company Profile

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.