Point72 Asset Management L.P. Increases Position in Highwoods Properties, Inc. (NYSE:HIW)

Point72 Asset Management L.P. grew its stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,300 shares of the real estate investment trust's stock after acquiring an additional 41,576 shares during the period. Point72 Asset Management L.P. owned about 0.24% of Highwoods Properties worth $7,868,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. US Bancorp DE increased its holdings in Highwoods Properties by 72.6% during the 4th quarter. US Bancorp DE now owns 21,956 shares of the real estate investment trust's stock worth $671,000 after purchasing an additional 9,235 shares during the period. B&I Capital AG grew its position in shares of Highwoods Properties by 111.7% during the 4th quarter. B&I Capital AG now owns 262,500 shares of the real estate investment trust's stock worth $8,027,000 after buying an additional 138,500 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Highwoods Properties by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust's stock valued at $65,235,000 after buying an additional 71,670 shares during the period. Empowered Funds LLC bought a new stake in shares of Highwoods Properties in the fourth quarter valued at about $367,000. Finally, Raymond James Financial Inc. purchased a new stake in Highwoods Properties in the fourth quarter worth about $6,565,000. Hedge funds and other institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Down 0.5%

Shares of Highwoods Properties stock traded down $0.14 during trading on Thursday, reaching $29.00. The company's stock had a trading volume of 638,373 shares, compared to its average volume of 915,277. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 30.53 and a beta of 1.20. Highwoods Properties, Inc. has a 1-year low of $24.07 and a 1-year high of $36.78. The company has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $29.67.

Highwoods Properties (NYSE:HIW - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. The company had revenue of $200.38 million during the quarter, compared to analysts' expectations of $201.31 million. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. The firm's revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, equities analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties's dividend payout ratio (DPR) is presently 124.22%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Wells Fargo & Company reduced 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 note on Monday. Jefferies Financial Group started coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $32.00 target price on the stock. Finally, Truist Financial decreased their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $31.83.

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.