Strs Ohio Invests $5.15 Million in Highwoods Properties, Inc. $HIW

Key Points

• Strs Ohio invested approximately $5.15 million in Highwoods Properties by acquiring 173,618 shares, representing a 0.16% ownership stake.
• Highwoods Properties recently reported $0.89 EPS, surpassing analysts' expectations of $0.85, although revenue decreased by 2.0% year-over-year.
• The company declared a quarterly dividend of $0.50, resulting in an annualized yield of 6.2%, with a payout ratio of 168.07%.

Strs Ohio acquired a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 173,618 shares of the real estate investment trust's stock, valued at approximately $5,146,000. Strs Ohio owned approximately 0.16% of Highwoods Properties at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. POM Investment Strategies LLC bought a new position in Highwoods Properties during the 1st quarter worth approximately $28,000. Avalon Trust Co bought a new position in Highwoods Properties during the 1st quarter worth approximately $35,000. Geneos Wealth Management Inc. grew its position in Highwoods Properties by 292.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,252 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Highwoods Properties during the 4th quarter worth approximately $59,000. Finally, Spirit of America Management Corp NY bought a new position in Highwoods Properties during the 1st quarter worth approximately $59,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Down 1.8%

Shares of NYSE HIW traded down $0.59 during mid-day trading on Friday, hitting $31.58. 1,948,052 shares of the stock traded hands, compared to its average volume of 1,086,569. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.38 and a current ratio of 1.38. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 26.54 and a beta of 1.27. The stock has a fifty day moving average price of $30.42 and a 200-day moving average price of $29.77.

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

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 9th. Investors 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 yield of 6.3%. The ex-dividend date was Monday, August 18th. Highwoods Properties's dividend payout ratio is 168.07%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HIW shares. Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Truist Financial raised their price target on Highwoods Properties from $32.00 to $33.00 and gave the stock a "hold" rating in a research report on Wednesday, September 3rd. Finally, Mizuho raised their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $32.17.

Insider Buying and Selling

In other Highwoods Properties news, Director David John Hartzell sold 4,300 shares of the company's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $32.10, for a total value of $138,030.00. Following the completion of the sale, the director owned 27,489 shares in the company, valued at $882,396.90. This represents a 13.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company's stock.

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.