SCS Capital Management LLC Acquires New Stake in Highwoods Properties, Inc. $HIW

Key Points

• SCS Capital Management LLC has invested $447,000 in Highwoods Properties, acquiring 15,072 shares of the real estate investment trust's stock in the first quarter.
• Highwoods Properties recently reported earnings of $0.89 per share, exceeding analyst expectations, although revenue for the quarter was down 2.0% compared to the previous year.
• The company announced a quarterly dividend of $0.50 per share, reflecting an annualized yield of 6.2% and a high dividend payout ratio of 168.07%.

SCS Capital Management LLC purchased a new position in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,072 shares of the real estate investment trust's stock, valued at approximately $447,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Highwoods Properties by 87.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,118,701 shares of the real estate investment trust's stock worth $181,358,000 after buying an additional 2,852,877 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Highwoods Properties by 512.9% during the fourth quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock worth $38,961,000 after buying an additional 1,066,508 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Highwoods Properties by 15.1% during the first quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock worth $87,719,000 after buying an additional 388,332 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Highwoods Properties during the first quarter worth approximately $9,331,000. Finally, Eisler Capital Management Ltd. acquired a new stake in shares of Highwoods Properties during the first quarter worth approximately $6,811,000. Institutional investors own 96.31% of the company's stock.

Analyst Upgrades and Downgrades

HIW has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Mizuho raised their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wells Fargo & Company lowered 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 report on Monday, May 19th. Finally, Wall Street Zen raised shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Highwoods Properties currently has a consensus rating of "Hold" and an average target price of $32.17.

Highwoods Properties Trading Down 0.5%

Shares of NYSE HIW traded down $0.18 during midday trading on Monday, reaching $32.22. 1,018,247 shares of the stock were exchanged, compared to its average volume of 1,015,769. The business has a 50-day simple moving average of $30.33 and a two-hundred day simple moving average of $29.67. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 27.07 and a beta of 1.27. Highwoods Properties, Inc. has a 12 month low of $24.18 and a 12 month high of $36.78. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.38 and a quick ratio of 1.38.

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

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Monday, August 18th. Highwoods Properties's dividend payout ratio (DPR) is currently 168.07%.

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.