Wolverine Asset Management LLC Increases Stock Position in Highwoods Properties, Inc. $HIW

Wolverine Asset Management LLC lifted its position in shares of Highwoods Properties, Inc. (NYSE:HIW) by 2,285.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,388 shares of the real estate investment trust’s stock after acquiring an additional 88,515 shares during the quarter. Wolverine Asset Management LLC owned 0.09% of Highwoods Properties worth $2,940,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HIW. Norges Bank acquired a new position in Highwoods Properties in the second quarter valued at $43,203,000. Quantinno Capital Management LP boosted its holdings in shares of Highwoods Properties by 52.8% in the 2nd quarter. Quantinno Capital Management LP now owns 1,040,302 shares of the real estate investment trust’s stock valued at $32,343,000 after purchasing an additional 359,332 shares during the last quarter. GRS Advisors LLC grew its stake in shares of Highwoods Properties by 40.0% during the 2nd quarter. GRS Advisors LLC now owns 1,247,470 shares of the real estate investment trust’s stock valued at $38,784,000 after buying an additional 356,530 shares during the period. Lighthouse Investment Partners LLC increased its holdings in shares of Highwoods Properties by 3,086.3% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 325,000 shares of the real estate investment trust’s stock worth $10,104,000 after buying an additional 314,800 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Highwoods Properties by 19.6% in the 2nd quarter. Sei Investments Co. now owns 1,613,516 shares of the real estate investment trust’s stock worth $50,164,000 after buying an additional 264,587 shares during the period. Institutional investors and hedge funds own 96.31% of the company’s stock.

Wall Street Analyst Weigh In

HIW has been the subject of a number of research reports. Wolfe Research initiated coverage on Highwoods Properties in a research report on Wednesday, October 8th. They set an “outperform” rating and a $38.00 price target for the company. Morgan Stanley raised their price target on shares of Highwoods Properties from $23.00 to $24.00 and gave the company an “underweight” rating in a report on Tuesday, October 21st. New Street Research set a $30.00 price objective on shares of Highwoods Properties in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Highwoods Properties in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.75.

Highwoods Properties Trading Up 1.2%

NYSE HIW opened at $27.52 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.39 and a current ratio of 1.39. The company has a 50-day simple moving average of $26.79 and a 200-day simple moving average of $29.17. The firm has a market capitalization of $3.02 billion, a PE ratio of 23.52 and a beta of 1.07. Highwoods Properties, Inc. has a one year low of $24.18 and a one year high of $32.76.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. The company had revenue of $201.77 million for the quarter, compared to analysts’ expectations of $205.74 million. Highwoods Properties had a net margin of 15.98% and a return on equity of 5.48%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. On average, equities analysts forecast that Highwoods Properties, Inc. will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Monday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 7.3%. Highwoods Properties’s payout ratio is presently 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.