T. Rowe Price Investment Management Inc. Acquires 10,331 Shares of 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. increased its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,660,872 shares of the real estate investment trust's stock after purchasing an additional 10,331 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 3.40% of Highwoods Properties worth $108,509,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Cerity Partners LLC grew its holdings in Highwoods Properties by 3.4% in the first quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust's stock valued at $507,000 after purchasing an additional 560 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Highwoods Properties by 31.2% in the 4th quarter. Two Sigma Advisers LP now owns 86,200 shares of the real estate investment trust's stock worth $2,636,000 after acquiring an additional 20,500 shares in the last quarter. Principal Financial Group Inc. boosted its position in Highwoods Properties by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 534,155 shares of the real estate investment trust's stock valued at $15,832,000 after purchasing an additional 20,458 shares during the period. Nuveen Asset Management LLC boosted its position in Highwoods Properties by 53.9% during the 4th quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust's stock worth $9,653,000 after acquiring an additional 110,571 shares during the period. Finally, Teacher Retirement System of Texas boosted its position in Highwoods Properties by 35.7% during the 1st quarter. Teacher Retirement System of Texas now owns 28,920 shares of the real estate investment trust's stock worth $857,000 after acquiring an additional 7,601 shares during the period. Hedge funds and other institutional investors own 96.31% of the company's stock.

Highwoods Properties Price Performance

HIW traded up $0.73 during trading on Wednesday, hitting $30.69. 286,819 shares of the stock traded hands, compared to its average volume of 995,665. The business has a 50 day moving average price of $30.26 and a 200 day moving average price of $29.43. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 25.73 and a beta of 1.21. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve 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 posted its 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 firm 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 company's revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. Equities research analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.5%. Highwoods Properties's dividend payout ratio (DPR) is presently 168.07%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HIW. Wall Street Zen downgraded Highwoods Properties from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Wells Fargo & Company dropped their target price on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Mizuho increased 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. Finally, Truist Financial downgraded 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. 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.com, Highwoods Properties presently has an average rating of "Hold" and a consensus price target of $32.00.

About Highwoods Properties

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.