Nuveen LLC Makes New $9.33 Million Investment in Highwoods Properties, Inc. $HIW

Key Points

• Nuveen LLC has made a significant investment of approximately $9.33 million in Highwoods Properties, acquiring 314,821 shares, representing about 0.29% ownership of the company.
• Highwoods Properties recently announced a quarterly dividend of $0.50, with an annualized yield of 6.7%, reflecting a payout ratio of 168.07%.
• Recent analyst reports have downgraded Highwoods Properties' stock from "hold" to "sell," with the current consensus rating being "hold" and a price target of $32.00.

Nuveen LLC acquired a new position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 314,821 shares of the real estate investment trust's stock, valued at approximately $9,331,000. Nuveen LLC owned 0.29% of Highwoods Properties at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIW. Cerity Partners LLC lifted its position in shares of Highwoods Properties by 3.4% during the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock valued at $507,000 after buying an additional 560 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Highwoods Properties by 31.2% during the fourth quarter. Two Sigma Advisers LP now owns 86,200 shares of the real estate investment trust's stock valued at $2,636,000 after buying an additional 20,500 shares during the period. Principal Financial Group Inc. grew its stake in Highwoods Properties by 4.0% in the first 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 lifted its holdings in shares of Highwoods Properties by 53.9% during the fourth quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust's stock valued at $9,653,000 after purchasing an additional 110,571 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in Highwoods Properties by 35.7% during the first quarter. Teacher Retirement System of Texas now owns 28,920 shares of the real estate investment trust's stock valued at $857,000 after acquiring an additional 7,601 shares during the last quarter. Institutional investors own 96.31% of the company's stock.

Wall Street Analyst Weigh In

HIW has been the subject of a number of analyst reports. Wall Street Zen cut Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Wells Fargo & Company lowered their price objective on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Mizuho raised their price objective on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Finally, Truist Financial lowered Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Highwoods Properties Trading Up 1.4%

Shares of HIW traded up $0.44 during midday trading on Friday, hitting $31.54. 1,719,205 shares of the stock were exchanged, compared to its average volume of 1,188,720. Highwoods Properties, Inc. has a 52-week low of $24.18 and a 52-week high of $36.78. The stock has a fifty day simple moving average of $30.22 and a 200 day simple moving average of $29.47. The firm has a market cap of $3.41 billion, a P/E ratio of 26.50 and a beta of 1.21. 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 (NYSE:HIW - Get Free Report) last announced its quarterly earnings data 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 return on equity of 5.57% and a net margin of 16.15%.The business had revenue of $200.60 million for the quarter, compared to analysts' expectations of $203.22 million. During the same period last year, the firm earned $0.98 earnings per share. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, research analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

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