SummitTX Capital L.P. Invests $633,000 in Highwoods Properties, Inc. $HIW

SummitTX Capital L.P. purchased a new position in Highwoods Properties, Inc. (NYSE:HIW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 29,587 shares of the real estate investment trust’s stock, valued at approximately $633,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its holdings in Highwoods Properties by 88.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 372 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Highwoods Properties by 292.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 1,252 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Highwoods Properties by 285.8% in the fourth quarter. Farther Finance Advisors LLC now owns 1,983 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,469 shares during the last quarter. State of Wyoming bought a new position in shares of Highwoods Properties during the 1st quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Highwoods Properties by 97.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,242 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 1,106 shares during the period. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

HIW opened at $33.84 on Friday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 22.26 and a beta of 1.07. The company has a quick ratio of 1.50, a current ratio of 1.68 and a debt-to-equity ratio of 1.37. The firm has a 50-day moving average price of $30.20 and a 200-day moving average price of $26.09. Highwoods Properties, Inc. has a twelve month low of $20.45 and a twelve month high of $35.44.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.01). The business had revenue of $216.38 million during the quarter, compared to the consensus estimate of $212.15 million. Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Equities analysts expect that Highwoods Properties, Inc. will post 3.53 EPS for the current year.

Highwoods Properties announced that its board has initiated a stock repurchase program on Wednesday, April 22nd that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a yield of 5.9%. Highwoods Properties’s payout ratio is presently 238.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $28.00 price objective on shares of Highwoods Properties in a report on Thursday, May 14th. Wells Fargo & Company raised their target price on Highwoods Properties from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Morgan Stanley boosted their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Truist Financial boosted their target price on Highwoods Properties from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

Highwoods Properties Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.