Wedge Capital Management L L P NC Buys New Position in Highwoods Properties, Inc. $HIW

Wedge Capital Management L L P NC acquired a new stake in Highwoods Properties, Inc. (NYSE:HIW) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 71,753 shares of the real estate investment trust’s stock, valued at approximately $2,283,000. Wedge Capital Management L L P NC owned 0.07% of Highwoods Properties as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Voya Investment Management LLC raised its stake in shares of Highwoods Properties by 2.9% in the 1st quarter. Voya Investment Management LLC now owns 13,033 shares of the real estate investment trust’s stock valued at $386,000 after acquiring an additional 367 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Highwoods Properties by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 15,397 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 396 shares during the last quarter. Truist Financial Corp grew its holdings in Highwoods Properties by 5.0% during the 2nd quarter. Truist Financial Corp now owns 9,146 shares of the real estate investment trust’s stock worth $284,000 after acquiring an additional 434 shares in the last quarter. GC Wealth Management RIA LLC grew its stake in Highwoods Properties by 4.2% in the second quarter. GC Wealth Management RIA LLC now owns 12,205 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 489 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Highwoods Properties by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 98,051 shares of the real estate investment trust’s stock worth $3,048,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

HIW has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Highwoods Properties in a report on Wednesday, October 8th. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Wells Fargo & Company dropped their price objective on Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Morgan Stanley raised their target price on Highwoods Properties from $23.00 to $24.00 and gave the company an “underweight” rating in a research note on Tuesday, October 21st. Finally, Truist Financial boosted their price target on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.00.

Highwoods Properties Trading Down 0.1%

NYSE HIW opened at $25.52 on Wednesday. The firm’s 50 day moving average price is $27.82 and its two-hundred day moving average price is $29.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.39 and a current ratio of 1.39. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $32.76. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 21.81 and a beta of 1.06.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.86. Highwoods Properties had a return on equity of 5.48% and a net margin of 15.98%.The company had revenue of $201.77 million for the quarter, compared to the consensus estimate of $205.74 million. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. Equities analysts anticipate that Highwoods Properties, Inc. will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, November 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.8%. Highwoods Properties’s dividend payout ratio (DPR) is currently 170.94%.

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.