Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in Highwoods Properties, Inc. $HIW

Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Highwoods Properties, Inc. (NYSE:HIW) by 22.0% during the second quarter, HoldingsChannel.com reports. The firm owned 2,233 shares of the real estate investment trust’s stock after selling 631 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Highwoods Properties were worth $69,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HIW. Wealth Enhancement Advisory Services LLC raised its stake in Highwoods Properties by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 383 shares during the period. Park Avenue Securities LLC purchased a new position in Highwoods Properties during the first quarter worth approximately $214,000. GAMMA Investing LLC raised its stake in Highwoods Properties by 10.3% during the first quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 493 shares during the period. SG Americas Securities LLC purchased a new position in shares of Highwoods Properties in the 1st quarter valued at $1,045,000. Finally, Simon Quick Advisors LLC purchased a new position in shares of Highwoods Properties in the 1st quarter valued at $234,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HIW. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Saturday. Mizuho raised their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Truist Financial raised their target price on shares of Highwoods Properties from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Wednesday, September 3rd. Wolfe Research began coverage on shares of Highwoods Properties in a research note on Wednesday. They issued an “outperform” rating and a $38.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Highwoods Properties in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus price target of $32.67.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $30.29 on Monday. Highwoods Properties, Inc. has a 12-month low of $24.18 and a 12-month high of $36.78. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 25.45 and a beta of 1.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average price is $30.81 and its 200 day moving average price is $30.06.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The firm had revenue of $200.60 million for the quarter, compared to the consensus estimate of $203.22 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’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, research analysts forecast that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Monday, August 18th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.00 annualized dividend and a yield of 6.6%. Highwoods Properties’s payout ratio is 168.07%.

Insider Transactions at Highwoods Properties

In other Highwoods Properties news, Director David John Hartzell sold 4,300 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $32.10, for a total transaction of $138,030.00. Following the completion of the transaction, the director directly owned 27,489 shares of the company’s stock, valued at $882,396.90. This trade represents a 13.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by company insiders.

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.