Legal & General Group Plc Purchases 95,408 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Legal & General Group Plc increased its Highwoods Properties stake by 13.1% in the fourth quarter, buying 95,408 additional shares and bringing its total holding to 823,917 shares worth about $21.3 million.
• Several analysts remain cautious on HIW: the stock’s consensus rating is Hold, with an average price target of $27.78 after multiple target cuts and rating adjustments.
• Highwoods Properties reported stronger-than-expected quarterly results, with EPS of $0.29 versus the $0.16 estimate, while also announcing a $0.50 quarterly dividend and a $250 million share repurchase program.

Legal & General Group Plc boosted its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 13.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 823,917 shares of the real estate investment trust's stock after buying an additional 95,408 shares during the period. Legal & General Group Plc owned 0.75% of Highwoods Properties worth $21,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Highwoods Properties by 88.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 372 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of Highwoods Properties by 921.4% during the third quarter. Bell Investment Advisors Inc now owns 858 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 774 shares in the last quarter. Beacon Financial Strategies CORP bought a new stake in Highwoods Properties during the 4th quarter valued at approximately $34,000. Avalon Trust Co bought a new stake in Highwoods Properties during the 3rd quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Highwoods Properties by 292.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,252 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HIW shares. Robert W. Baird set a $29.00 price target on Highwoods Properties in a research note on Wednesday, February 25th. Morgan Stanley upgraded shares of Highwoods Properties from an "underweight" rating to an "equal weight" rating and dropped their target price for the stock from $24.00 to $23.00 in a research report on Tuesday, March 31st. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Monday, March 23rd. Truist Financial reduced their price target on shares of Highwoods Properties from $29.00 to $23.00 and set a "hold" rating on the stock in a report on Tuesday, March 17th. Finally, Mizuho decreased their price target on shares of Highwoods Properties from $30.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Highwoods Properties has an average rating of "Hold" and a consensus price target of $27.78.

Highwoods Properties Stock Up 0.1%

Shares of HIW opened at $26.13 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 31.10 and a beta of 1.09. Highwoods Properties, Inc. has a 1 year low of $20.45 and a 1 year high of $32.76. The business's 50 day simple moving average is $23.67 and its 200-day simple moving average is $24.84.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.13. Highwoods Properties had a net margin of 11.64% and a return on equity of 3.97%. The firm had revenue of $214.03 million during the quarter, compared to analyst estimates of $209.06 million. During the same period last year, the firm posted $0.83 earnings per share. Highwoods Properties's revenue for the quarter was up 6.8% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. As a group, equities analysts expect that Highwoods Properties, Inc. will post 3.53 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Monday, May 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.7%. Highwoods Properties's payout ratio is 238.10%.

Highwoods Properties declared that its Board of Directors has approved a share buyback plan on Wednesday, April 22nd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Highwoods Properties Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company's portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.

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