New Age Alpha Advisors LLC Purchases 107,578 Shares of Highwoods Properties, Inc. (NYSE:HIW)

Key Points

• New Age Alpha Advisors LLC increased its stake in Highwoods Properties, Inc. by 646.7% in the first quarter, owning 124,213 shares valued at approximately $3.68 million.
• Highwoods Properties reported $0.89 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.85, but experienced a 2% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.50 with an annualized yield of 7.0%, while the dividend payout ratio stands at 168.07%.

New Age Alpha Advisors LLC raised its holdings in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 646.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 124,213 shares of the real estate investment trust's stock after purchasing an additional 107,578 shares during the period. New Age Alpha Advisors LLC owned approximately 0.12% of Highwoods Properties worth $3,682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. LPL Financial LLC lifted its holdings in shares of Highwoods Properties by 7.9% during the 4th quarter. LPL Financial LLC now owns 40,266 shares of the real estate investment trust's stock worth $1,231,000 after acquiring an additional 2,931 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Highwoods Properties by 6.5% during the 4th quarter. JPMorgan Chase & Co. now owns 699,013 shares of the real estate investment trust's stock worth $21,376,000 after acquiring an additional 42,744 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $240,000. Wellington Management Group LLP lifted its holdings in shares of Highwoods Properties by 328.8% during the 4th quarter. Wellington Management Group LLP now owns 126,631 shares of the real estate investment trust's stock worth $3,872,000 after acquiring an additional 97,100 shares during the period. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $1,277,000. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Price Performance

HIW stock traded down $0.08 during trading on Friday, reaching $28.67. 1,088,457 shares of the company were exchanged, compared to its average volume of 1,115,873. The company has a 50-day moving average of $30.66 and a two-hundred day moving average of $29.43. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 24.09 and a beta of 1.21. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month 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 announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $200.60 million during the quarter, compared to analysts' expectations of $203.22 million. During the same period in the prior year, the company posted $0.98 EPS. The company's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.0%. The ex-dividend date is Monday, August 18th. Highwoods Properties's dividend payout ratio is 168.07%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Truist Financial cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 2nd. Mizuho upped their price objective on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, 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. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Highwoods Properties presently has an average rating of "Hold" and an average target price of $32.00.

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.