Oliver Luxxe Assets LLC Acquires 22,686 Shares of Highwoods Properties, Inc. $HIW

Key Points

• Oliver Luxxe Assets LLC increased its stake in Highwoods Properties by 46.5%, acquiring 22,686 shares to own a total of 71,457 shares worth approximately $2.1 million.
• Highwoods Properties recently reported earnings of $0.89 EPS for the last quarter, surpassing the expected $0.85 EPS, although revenue fell 2.0% year-over-year.
• The company declared a quarterly dividend of $0.50 with a yield of 6.7%, set to be paid on September 9th, impacting the dividend payout ratio, which stands at 168.07%.

Oliver Luxxe Assets LLC increased its stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 46.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,457 shares of the real estate investment trust's stock after purchasing an additional 22,686 shares during the quarter. Oliver Luxxe Assets LLC owned 0.07% of Highwoods Properties worth $2,118,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Highwoods Properties by 3.4% in the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock valued at $507,000 after purchasing an additional 560 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Highwoods Properties by 31.2% during the 4th quarter. Two Sigma Advisers LP now owns 86,200 shares of the real estate investment trust's stock valued at $2,636,000 after acquiring an additional 20,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Highwoods Properties by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 534,155 shares of the real estate investment trust's stock valued at $15,832,000 after acquiring an additional 20,458 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Highwoods Properties by 53.9% during the 4th quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust's stock valued at $9,653,000 after acquiring an additional 110,571 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Highwoods Properties by 35.7% during the 1st 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 in the last quarter. Hedge funds and other institutional investors own 96.31% of the company's stock.

Analyst Upgrades and Downgrades

HIW has been the subject of a number of recent research reports. Truist Financial downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a report on Wednesday, July 2nd. Wall Street Zen cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Wells Fargo & Company dropped their price target on shares of 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. Finally, Mizuho lifted their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $32.00.

Highwoods Properties Price Performance

NYSE HIW traded up $0.32 on Friday, reaching $31.42. The company's stock had a trading volume of 430,150 shares, compared to its average volume of 1,001,840. 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 quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $3.40 billion, a PE ratio of 26.42 and a beta of 1.21. The firm's 50 day moving average is $30.22 and its two-hundred day moving average is $29.46.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $200.60 million for the quarter, compared to the consensus estimate of $203.22 million. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, sell-side analysts predict that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, August 18th. Highwoods Properties's dividend payout ratio is 168.07%.

About Highwoods Properties

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.