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

Point72 Asset Management L.P. boosted its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 0.24% of Highwoods Properties worth $7,868,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in shares of Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 675 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Highwoods Properties by 124.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust's stock worth $73,000 after purchasing an additional 1,351 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Highwoods Properties by 363.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 2,331 shares during the period. FIL Ltd lifted its position in shares of Highwoods Properties by 26.8% in the 4th quarter. FIL Ltd now owns 3,744 shares of the real estate investment trust's stock worth $114,000 after purchasing an additional 791 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Highwoods Properties by 26.1% in the 4th quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust's stock worth $126,000 after purchasing an additional 851 shares during the period. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Down 0.9%

NYSE HIW traded down $0.27 during trading hours on Friday, reaching $28.73. 831,804 shares of the company's stock traded hands, compared to its average volume of 918,476. Highwoods Properties, Inc. has a 52-week low of $24.07 and a 52-week high of $36.78. The firm has a market cap of $3.10 billion, a PE ratio of 30.24 and a beta of 1.20. The firm has a 50-day simple moving average of $28.50 and a 200 day simple moving average of $29.58. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25.

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

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 6.96%. Highwoods Properties's dividend payout ratio (DPR) is presently 124.22%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a research report on Monday, March 17th. They issued a "buy" rating and a $32.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Truist Financial dropped their target price 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Highwoods Properties has an average rating of "Hold" and an average price target of $31.83.

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.