Pacific Heights Asset Management LLC Acquires Shares of 400,000 Highwoods Properties, Inc. $HIW

Key Points

• Pacific Heights Asset Management acquired 400,000 Highwoods Properties shares worth approximately $12.1 million, giving it a 0.36% stake. Institutional investors collectively own 96.31% of the REIT.
• Highwoods reported quarterly revenue of $216.38 million, up 7.9% year over year, but adjusted EPS of $0.85 slightly missed analyst expectations. Analysts forecast full-year EPS of $3.53, within the company’s $3.46–$3.70 guidance range.
• The company declared a quarterly dividend of $0.50, or $2.00 annualized, representing a 6.4% yield. Wall Street maintains a consensus “Hold” rating with a $31.67 target price, close to the stock’s $31.41 opening price.

Pacific Heights Asset Management LLC acquired a new stake in Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 400,000 shares of the real estate investment trust's stock, valued at approximately $12,064,000. Pacific Heights Asset Management LLC owned 0.36% of Highwoods Properties at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its holdings in Highwoods Properties by 88.6% in the 3rd 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 during the period. Elevation Wealth Partners LLC boosted its holdings in shares of Highwoods Properties by 752.0% during the second quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 940 shares during the period. Allworth Financial LP bought a new stake in shares of Highwoods Properties during the second quarter worth approximately $38,000. Geneos Wealth Management Inc. boosted its holdings in shares of Highwoods Properties by 292.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,252 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of Highwoods Properties by 285.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,983 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 1,469 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company's stock.

Highwoods Properties Stock Down 0.3%

Shares of HIW opened at $31.41 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37. Highwoods Properties, Inc. has a 12 month low of $20.45 and a 12 month high of $35.44. The firm's 50 day moving average is $31.72 and its 200-day moving average is $26.83. The stock has a market capitalization of $3.46 billion, a PE ratio of 20.66 and a beta of 1.05.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01). The company had revenue of $216.38 million for the quarter, compared to analyst estimates of $212.15 million. Highwoods Properties had a return on equity of 7.06% and a net margin of 20.74%.The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Equities research analysts forecast that Highwoods Properties, Inc. will post 3.53 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Monday, August 17th. Highwoods Properties's payout ratio is 131.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup increased their target price on Highwoods Properties from $24.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Mizuho boosted their price target on Highwoods Properties from $25.00 to $30.00 and gave the company a "neutral" rating in a research note on Tuesday, July 21st. Morgan Stanley upped their price objective on Highwoods Properties from $23.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Highwoods Properties from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 31st. Finally, Wells Fargo & Company lifted their target price on Highwoods Properties from $24.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Highwoods Properties has a consensus rating of "Hold" and a consensus target price of $31.67.

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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