CORDA Investment Management LLC. Boosts Stake in Highwoods Properties, Inc. $HIW

CORDA Investment Management LLC. grew its stake in Highwoods Properties, Inc. (NYSE:HIW) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,027,240 shares of the real estate investment trust’s stock after buying an additional 8,054 shares during the period. Highwoods Properties accounts for 2.3% of CORDA Investment Management LLC.’s holdings, making the stock its 18th biggest position. CORDA Investment Management LLC. owned 0.95% of Highwoods Properties worth $31,937,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. POM Investment Strategies LLC purchased a new position in shares of Highwoods Properties in the first quarter worth $28,000. Avalon Trust Co purchased a new position in shares of Highwoods Properties during the first quarter worth $35,000. Geneos Wealth Management Inc. raised its holdings in shares of Highwoods Properties by 292.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,252 shares during the last quarter. Bayforest Capital Ltd purchased a new position in shares of Highwoods Properties during the first quarter worth $82,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Highwoods Properties by 25.7% during the first quarter. Smartleaf Asset Management LLC now owns 3,060 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

HIW opened at $30.01 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. The firm’s 50-day moving average price is $30.93 and its 200 day moving average price is $30.09. Highwoods Properties, Inc. has a twelve month low of $24.18 and a twelve month high of $36.78. The firm has a market capitalization of $3.24 billion, a PE ratio of 25.21 and a beta of 1.24.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $200.60 million for the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. Highwoods Properties’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, sell-side analysts expect that Highwoods Properties, Inc. will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.7%. The ex-dividend date was Monday, August 18th. Highwoods Properties’s payout ratio is presently 168.07%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Truist Financial raised their target price on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, September 3rd. Wolfe Research assumed coverage on shares of Highwoods Properties in a report on Wednesday, October 8th. They set an “outperform” rating and a $38.00 target price for the company. Mizuho raised their target price on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Wall Street Zen cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Highwoods Properties in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Highwoods Properties presently has an average rating of “Hold” and an average price target of $32.29.

Insiders Place Their Bets

In other Highwoods Properties news, Director David John Hartzell sold 4,300 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $32.10, for a total value of $138,030.00. Following the transaction, the director directly owned 27,489 shares in the company, valued at $882,396.90. The trade was a 13.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Highwoods Properties Company 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.