T. Rowe Price Investment Management Inc. Increases Stake in Highwoods Properties, Inc. $HIW

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Highwoods Properties, owning approximately 3.40% of the company, valued at $108.51 million.
• Highwoods Properties reported an earnings per share (EPS) of $0.89 for the last quarter, exceeding estimates, although revenue fell by 2.0% year-over-year.
• The company's quarterly dividend of $0.50 per share represents an annual yield of 6.9%, with the dividend payout ratio at 168.07%.

T. Rowe Price Investment Management Inc. raised its position in Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 0.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,660,872 shares of the real estate investment trust's stock after buying an additional 10,331 shares during the period. T. Rowe Price Investment Management Inc. owned about 3.40% of Highwoods Properties worth $108,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 2,852,877 shares during the last quarter. Invesco Ltd. raised its stake in shares of Highwoods Properties by 15.1% in the first quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock valued at $87,719,000 after acquiring an additional 388,332 shares in the last quarter. Northern Trust Corp boosted its holdings in Highwoods Properties by 7.3% in the first quarter. Northern Trust Corp now owns 1,989,894 shares of the real estate investment trust's stock valued at $58,980,000 after purchasing an additional 135,059 shares during the period. Janus Henderson Group PLC boosted its holdings in Highwoods Properties by 512.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock valued at $38,961,000 after purchasing an additional 1,066,508 shares during the period. Finally, CORDA Investment Management LLC. grew its stake in Highwoods Properties by 19.7% during the 1st quarter. CORDA Investment Management LLC. now owns 1,019,186 shares of the real estate investment trust's stock worth $30,209,000 after purchasing an additional 167,510 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. 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. Wall Street Zen cut Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Truist Financial lowered shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 2nd. Finally, Mizuho boosted their price objective on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $32.00.

Highwoods Properties Stock Performance

Shares of HIW traded down $0.08 during mid-day trading on Tuesday, reaching $30.00. 911,557 shares of the company's stock were exchanged, compared to its average volume of 996,298. The business's fifty day simple moving average is $30.29 and its 200-day simple moving average is $29.43. The stock has a market capitalization of $3.24 billion, a PE ratio of 25.21 and a beta of 1.21. Highwoods Properties, Inc. has a 52-week low of $24.18 and a 52-week 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 data on Tuesday, July 29th. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The company had revenue of $200.60 million during the quarter, compared to the consensus estimate of $203.22 million. During the same quarter in the prior year, the firm earned $0.98 EPS. Highwoods Properties's quarterly revenue was down 2.0% on a year-over-year basis. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. On average, equities research analysts expect that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Monday, August 18th. Highwoods Properties's dividend payout ratio 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.