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

A number of other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $2,096,000 after acquiring an additional 4,996 shares during the period. Tudor Investment Corp ET AL bought a new position in Highwoods Properties during the 4th quarter valued at about $652,000. Northern Trust Corp lifted its stake in Highwoods Properties by 29.0% during the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock valued at $56,721,000 after acquiring an additional 416,791 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in Highwoods Properties by 54.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 41,321 shares of the real estate investment trust's stock valued at $1,264,000 after acquiring an additional 14,567 shares during the period. Finally, Algert Global LLC lifted its stake in Highwoods Properties by 20.4% during the 4th quarter. Algert Global LLC now owns 130,111 shares of the real estate investment trust's stock valued at $3,979,000 after acquiring an additional 22,038 shares during the period. Institutional investors own 96.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho upped 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. 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 reduced their price target 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, Truist Financial upped their price target on shares of Highwoods Properties from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $32.17.

Highwoods Properties Stock Performance

Highwoods Properties stock traded up $0.52 during midday trading on Friday, hitting $31.81. The stock had a trading volume of 1,028,170 shares, compared to its average volume of 1,053,829. The firm's fifty day moving average is $30.24 and its two-hundred day moving average is $29.56. The company has a market capitalization of $3.44 billion, a PE ratio of 26.73 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 current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42.

Highwoods Properties (NYSE:HIW - Get Free Report) last released 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. The company had revenue of $200.60 million during 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 firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, research analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Monday, August 18th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Monday, August 18th. Highwoods Properties's dividend payout ratio is currently 168.07%.

Highwoods Properties 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.