Highwoods Properties, Inc. $HIW Shares Sold by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC has reduced its stake in Highwoods Properties, Inc. by 26.6%, now holding 21,714 shares valued at $644,000 as of its latest SEC filing.
• In contrast, Massachusetts Financial Services Co. has significantly increased its position in Highwoods by 87.4%, acquiring over 2.8 million additional shares.
• Highwoods Properties recently announced a quarterly dividend of $0.50, with a dividend yield of 6.3% and a payout ratio of 168.07%.

Kestra Investment Management LLC decreased its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 26.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,714 shares of the real estate investment trust's stock after selling 7,885 shares during the quarter. Kestra Investment Management LLC's holdings in Highwoods Properties were worth $644,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC purchased a new position in Highwoods Properties during the first quarter worth approximately $28,000. Avalon Trust Co purchased a new stake in Highwoods Properties in the first quarter valued at $35,000. GF Fund Management CO. LTD. purchased a new stake in Highwoods Properties in the fourth quarter valued at $59,000. Spirit of America Management Corp NY purchased a new stake in Highwoods Properties in the first quarter valued at $59,000. Finally, Bayforest Capital Ltd purchased a new stake in Highwoods Properties in the first quarter valued at $82,000. Hedge funds and other institutional investors own 96.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on HIW shares. Wells Fargo & Company reduced their target price on 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 upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Saturday. Truist Financial lifted their target price on Highwoods Properties from $32.00 to $33.00 and gave the company a "hold" rating in a research report on Wednesday, September 3rd. Finally, Mizuho lifted their target price on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.17.

Highwoods Properties Trading Up 0.2%

Shares of NYSE HIW traded up $0.08 during trading on Friday, reaching $32.40. The stock had a trading volume of 1,009,338 shares, compared to its average volume of 1,047,732. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $36.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. The business's 50-day moving average price is $30.33 and its 200-day moving average price is $29.66. The company has a market cap of $3.50 billion, a P/E ratio of 27.23 and a beta of 1.27.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The business had revenue of $200.60 million during the quarter, compared to analysts' expectations of $203.22 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The company's 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. On average, equities research analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 18th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, August 18th. Highwoods Properties's payout ratio is presently 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.