Balyasny Asset Management L.P. Invests $824,000 in Highwoods Properties, Inc. (NYSE:HIW)

Balyasny Asset Management L.P. bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,961 shares of the real estate investment trust’s stock, valued at approximately $824,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in shares of Highwoods Properties by 375.0% during the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 675 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Highwoods Properties by 124.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust’s stock worth $73,000 after purchasing an additional 1,351 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Highwoods Properties by 363.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock worth $91,000 after purchasing an additional 2,331 shares in the last quarter. FIL Ltd grew 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 grew its stake in shares of Highwoods Properties by 26.1% during the fourth quarter. Venturi Wealth Management LLC now owns 4,111 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 851 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of HIW opened at $30.00 on Thursday. Highwoods Properties, Inc. has a fifty-two week low of $24.07 and a fifty-two week high of $36.78. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 31.58 and a beta of 1.20. The firm has a 50-day simple moving average of $28.34 and a 200-day simple moving average of $29.80. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25.

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

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 6.67%. Highwoods Properties’s dividend payout ratio is currently 124.22%.

Wall Street Analysts Forecast Growth

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