SCS Capital Management LLC Acquires Shares of 15,072 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 acquired a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,072 shares of the real estate investment trust's stock, valued at approximately $447,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIW. BNP Paribas Financial Markets increased its holdings in shares of Highwoods Properties by 13.4% during the fourth quarter. BNP Paribas Financial Markets now owns 7,441 shares of the real estate investment trust's stock valued at $228,000 after acquiring an additional 879 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Highwoods Properties during the fourth quarter valued at approximately $824,000. Cetera Investment Advisers increased its holdings in shares of Highwoods Properties by 26.0% during the fourth quarter. Cetera Investment Advisers now owns 12,699 shares of the real estate investment trust's stock valued at $388,000 after acquiring an additional 2,619 shares in the last quarter. Cresset Asset Management LLC bought a new stake in shares of Highwoods Properties during the fourth quarter valued at approximately $296,000. Finally, Deutsche Bank AG increased its holdings in shares of Highwoods Properties by 276.0% during the fourth quarter. Deutsche Bank AG now owns 212,304 shares of the real estate investment trust's stock valued at $6,492,000 after acquiring an additional 155,843 shares in the last quarter. Institutional investors own 96.31% of the company's stock.

Wall Street Analyst Weigh In

HIW has been the subject of several recent research reports. Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a report on Saturday. Truist Financial upped their price target on Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Finally, Mizuho upped their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.17.

Highwoods Properties Stock Performance

NYSE:HIW traded down $0.06 during trading on Wednesday, reaching $32.14. The company's stock had a trading volume of 224,595 shares, compared to its average volume of 1,012,030. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 26.99 and a beta of 1.27. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a 50 day moving average of $30.38 and a 200-day moving average of $29.71. Highwoods Properties, Inc. has a 12 month low of $24.18 and a 12 month high of $36.78.

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

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, August 18th. Highwoods Properties's dividend payout ratio is 168.07%.

Highwoods Properties Company 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.