Invesco Ltd. Increases Position in Highwoods Properties, Inc. (NYSE:HIW)

Key Points

• Invesco Ltd. increased its stake in Highwoods Properties, Inc. by 15.1%, acquiring a total of 2,959,480 shares worth approximately $87.7 million.
• Several hedge funds also adjusted their positions, with notable increases from entities like Nuveen Asset Management and Teacher Retirement System of Texas.
• Currently, Highwoods Properties has mixed analyst ratings, with one sell rating, five hold ratings, and one buy rating, alongside an average price target of $32.00.

Invesco Ltd. lifted its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 15.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,959,480 shares of the real estate investment trust's stock after buying an additional 388,332 shares during the period. Invesco Ltd. owned approximately 2.75% of Highwoods Properties worth $87,719,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC raised its holdings in shares of Highwoods Properties by 3.4% in the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock worth $507,000 after purchasing an additional 560 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Highwoods Properties by 31.2% in the 4th quarter. Two Sigma Advisers LP now owns 86,200 shares of the real estate investment trust's stock worth $2,636,000 after purchasing an additional 20,500 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Highwoods Properties by 4.0% in the 1st quarter. Principal Financial Group Inc. now owns 534,155 shares of the real estate investment trust's stock worth $15,832,000 after purchasing an additional 20,458 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Highwoods Properties by 53.9% in the 4th quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust's stock worth $9,653,000 after purchasing an additional 110,571 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Highwoods Properties by 35.7% in the 1st quarter. Teacher Retirement System of Texas now owns 28,920 shares of the real estate investment trust's stock worth $857,000 after purchasing an additional 7,601 shares during the period. Institutional investors own 96.31% of the company's stock.

Analyst Upgrades and Downgrades

HIW has been the topic of a number of research reports. Wall Street Zen cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a report on Saturday. Wells Fargo & Company lowered 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 report on Monday, May 19th. Mizuho lifted their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Truist Financial downgraded Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Highwoods Properties currently has an average rating of "Hold" and an average target price of $32.00.

Highwoods Properties Trading Down 1.2%

NYSE:HIW opened at $29.30 on Friday. The company has a market cap of $3.17 billion, a P/E ratio of 24.62 and a beta of 1.21. The stock's fifty day moving average price is $30.53 and its two-hundred day moving average price is $29.42. Highwoods Properties, Inc. has a 1 year low of $24.18 and a 1 year high of $36.78. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.38 and a quick ratio of 1.38.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted 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 firm had revenue of $200.60 million for the quarter, compared to the consensus estimate of $203.22 million. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%. The business's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current 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. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.8%. Highwoods Properties's dividend payout ratio is presently 168.07%.

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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