Northern Trust Corp Has $58.98 Million Stock Position in Highwoods Properties, Inc. $HIW

Key Points

• Northern Trust Corp increased its stake in Highwoods Properties by 7.3%, now owning 1,989,894 shares worth approximately $58.98 million.
• Highwoods Properties reported earnings of $0.89 per share for the last quarter, surpassing analysts' expectations of $0.85, despite a 2% decline in quarterly revenue year-over-year.
• The company's quarterly dividend of $0.50 per share, with an annualized yield of 6.7%, will be paid on September 9th.

Northern Trust Corp increased its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,989,894 shares of the real estate investment trust's stock after purchasing an additional 135,059 shares during the period. Northern Trust Corp owned approximately 1.85% of Highwoods Properties worth $58,980,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Versor Investments LP lifted its holdings in shares of Highwoods Properties by 55.8% during the 1st quarter. Versor Investments LP now owns 36,580 shares of the real estate investment trust's stock valued at $1,084,000 after purchasing an additional 13,100 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Highwoods Properties by 24.4% during the 1st quarter. Algert Global LLC now owns 161,881 shares of the real estate investment trust's stock valued at $4,798,000 after purchasing an additional 31,770 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Highwoods Properties by 11.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 46,814 shares of the real estate investment trust's stock valued at $1,370,000 after purchasing an additional 4,763 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Highwoods Properties by 47.6% during the 1st quarter. Public Sector Pension Investment Board now owns 389,924 shares of the real estate investment trust's stock valued at $11,557,000 after purchasing an additional 125,818 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Highwoods Properties during the 1st quarter valued at about $9,331,000. Institutional investors own 96.31% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on HIW. Wall Street Zen cut Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Truist Financial cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price on the stock. in a research note on Wednesday, July 2nd. Wells Fargo & Company cut their target price on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. Finally, Mizuho boosted their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $32.00.

Highwoods Properties Trading Up 1.4%

Shares of HIW stock traded up $0.44 on Monday, hitting $31.54. The company had a trading volume of 1,719,205 shares, compared to its average volume of 1,203,012. The firm has a market cap of $3.41 billion, a P/E ratio of 26.50 and a beta of 1.27. The stock's 50-day moving average is $30.23 and its two-hundred day moving average is $29.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $36.78.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $200.60 million during the quarter, compared to analysts' expectations 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 firm posted $0.98 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, equities research analysts anticipate that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

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

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.