Point72 Asset Management L.P. Boosts Position in Highwoods Properties, Inc. (NYSE:HIW)

Point72 Asset Management L.P. raised its holdings in shares of Highwoods Properties, Inc. (NYSE:HIW) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,300 shares of the real estate investment trust’s stock after buying an additional 41,576 shares during the period. Point72 Asset Management L.P. owned about 0.24% of Highwoods Properties worth $7,868,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp raised its stake in shares of Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 675 shares during the period. Smartleaf Asset Management LLC raised its position in Highwoods Properties by 124.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 1,351 shares during the period. EverSource Wealth Advisors LLC raised its position in Highwoods Properties by 363.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock valued at $91,000 after purchasing an additional 2,331 shares during the period. FIL Ltd lifted its stake in shares of Highwoods Properties by 26.8% during the fourth quarter. FIL Ltd now owns 3,744 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 791 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Highwoods Properties by 26.1% in the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 851 shares during the period. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Price Performance

HIW stock opened at $30.89 on Monday. The stock’s 50 day moving average is $28.40 and its two-hundred day moving average is $29.69. Highwoods Properties, Inc. has a 52-week low of $24.07 and a 52-week high of $36.78. The company has a market capitalization of $3.33 billion, a PE ratio of 32.52 and a beta of 1.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Analysts predict that Highwoods Properties, Inc. will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.47%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties’s payout ratio is currently 124.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, April 30th. Jefferies Financial Group began coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Truist Financial decreased their target price on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.50.

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.