Public Employees Retirement System of Ohio Acquires New Position in Highwoods Properties, Inc. $HIW

Key Points

• Public Employees Retirement System of Ohio purchased 140,800 shares of Highwoods Properties valued at approximately $4.25 million, joining other institutions that helped bring institutional ownership to 96.31%.
• Highwoods Properties reported quarterly revenue of $216.38 million, up 7.9% year over year, but earnings per share of $0.85 narrowly missed analyst expectations of $0.86.
• The REIT declared a quarterly dividend of $0.50 per share, representing a $2.00 annualized payout and a 6.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $32.33.

Public Employees Retirement System of Ohio bought a new position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 140,800 shares of the real estate investment trust's stock, valued at approximately $4,247,000. Public Employees Retirement System of Ohio owned about 0.13% of Highwoods Properties as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Highwoods Properties during the second quarter valued at approximately $633,717,000. CORDA Investment Management LLC. purchased a new stake in Highwoods Properties during the 2nd quarter valued at $38,747,000. Bank of New York Mellon Corp purchased a new stake in Highwoods Properties during the 2nd quarter valued at $38,595,000. Bank of America Corp DE bought a new stake in shares of Highwoods Properties in the 2nd quarter worth $36,285,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Highwoods Properties by 133.8% in the 1st quarter. Quantinno Capital Management LP now owns 1,808,104 shares of the real estate investment trust's stock worth $38,712,000 after purchasing an additional 1,034,694 shares in the last quarter. Institutional investors own 96.31% of the company's stock.

Highwoods Properties Stock Up 0.8%

Shares of HIW stock opened at $31.10 on Friday. Highwoods Properties, Inc. has a 12 month low of $20.45 and a 12 month high of $35.44. The stock has a market cap of $3.43 billion, a P/E ratio of 20.46 and a beta of 1.05. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37. The company has a 50 day simple moving average of $31.88 and a two-hundred day simple moving average of $27.07.

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 for the quarter, missing the consensus estimate of $0.86 by ($0.01). Highwoods Properties had a return on equity of 7.06% and a net margin of 20.74%.The business had revenue of $216.38 million for the quarter, compared to analysts' expectations of $212.15 million. During the same quarter in the prior year, the business earned $0.89 EPS. The company's revenue was up 7.9% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. On average, research analysts expect that Highwoods Properties, Inc. will post 3.54 earnings per share for the current year.

Highwoods Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HIW shares. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 target price for the company. in a research report on Wednesday, August 5th. Truist Financial increased their price target on Highwoods Properties from $23.00 to $30.00 and gave the company a "hold" rating in a report on Friday, June 26th. Citigroup raised their price target on Highwoods Properties from $24.00 to $34.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price objective on Highwoods Properties from $26.00 to $32.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, Morgan Stanley increased their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $32.33.

About Highwoods Properties

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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