Resona Asset Management Co. Ltd. Raises Stake in Highwoods Properties, Inc. (NYSE:HIW)

Resona Asset Management Co. Ltd. boosted its position in Highwoods Properties, Inc. (NYSE:HIW) by 11.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,814 shares of the real estate investment trust’s stock after buying an additional 4,763 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Highwoods Properties were worth $1,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of HIW. POM Investment Strategies LLC purchased a new stake in Highwoods Properties in the first quarter worth approximately $28,000. Avalon Trust Co purchased a new stake in Highwoods Properties in the first quarter worth approximately $35,000. GF Fund Management CO. LTD. purchased a new stake in Highwoods Properties in the fourth quarter worth approximately $59,000. Spirit of America Management Corp NY purchased a new stake in shares of Highwoods Properties during the first quarter valued at approximately $59,000. Finally, Bayforest Capital Ltd purchased a new stake in shares of Highwoods Properties during the first quarter valued at approximately $82,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

Shares of Highwoods Properties stock opened at $29.30 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. The company has a market cap of $3.17 billion, a PE ratio of 24.62 and a beta of 1.21. The business has a 50 day moving average of $30.53 and a 200 day moving average of $29.42. Highwoods Properties, Inc. has a 52 week low of $24.18 and a 52 week high of $36.78.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $200.60 million during the quarter, compared to the consensus estimate of $203.22 million. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.8%. Highwoods Properties’s dividend payout ratio is 168.07%.

Wall Street Analysts Forecast Growth

HIW has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price objective on Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, May 19th. Truist Financial lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Wednesday, July 2nd. Wall Street Zen lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Mizuho increased their price objective on Highwoods Properties from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Highwoods Properties has an average rating of “Hold” and an average price target of $32.00.

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.