Choreo LLC Purchases 5,340 Shares of Highwoods Properties, Inc. $HIW

Choreo LLC boosted its position in Highwoods Properties, Inc. (NYSE:HIW) by 35.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,316 shares of the real estate investment trust’s stock after acquiring an additional 5,340 shares during the period. Choreo LLC’s holdings in Highwoods Properties were worth $632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HIW. Avalon Trust Co acquired a new position in Highwoods Properties during the 1st quarter valued at about $35,000. Geneos Wealth Management Inc. raised its stake 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 buying an additional 1,252 shares during the last quarter. MAI Capital Management raised its stake in shares of Highwoods Properties by 67.3% during the second quarter. MAI Capital Management now owns 1,803 shares of the real estate investment trust’s stock worth $56,000 after buying an additional 725 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Highwoods Properties in the first quarter valued at approximately $82,000. Finally, Smartleaf Asset Management LLC boosted its stake in Highwoods Properties by 25.7% in the first quarter. Smartleaf Asset Management LLC now owns 3,060 shares of the real estate investment trust’s stock valued at $89,000 after acquiring an additional 626 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director David John Hartzell sold 4,300 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $32.10, for a total value of $138,030.00. Following the completion of the transaction, the director owned 27,489 shares of the company’s stock, valued at approximately $882,396.90. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.

Highwoods Properties Stock Down 1.0%

HIW stock opened at $27.52 on Tuesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.39 and a quick ratio of 1.38. The stock has a market capitalization of $3.02 billion, a P/E ratio of 23.52 and a beta of 1.20. Highwoods Properties, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $32.76. The business has a 50-day moving average of $29.54 and a 200-day moving average of $30.22.

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

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Monday, November 17th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 17th. This represents a $2.00 annualized dividend and a yield of 7.3%. Highwoods Properties’s dividend payout ratio is presently 170.94%.

Wall Street Analyst Weigh In

Several analysts have commented on HIW shares. Morgan Stanley upped their target price on shares of Highwoods Properties from $23.00 to $24.00 and gave the company an “underweight” rating in a research report on Tuesday, October 21st. New Street Research set a $30.00 price objective on Highwoods Properties in a report on Monday, October 13th. Wells Fargo & Company cut their target price 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. Wolfe Research initiated coverage on Highwoods Properties in a research report on Wednesday, October 8th. They set an “outperform” rating and a $38.00 target price for the company. Finally, Truist Financial upped their price target on Highwoods Properties from $32.00 to $33.00 and gave the company a “hold” rating in a research note 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.00.

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.