CORDA Investment Management LLC. Takes $38.75 Million Position in Highwoods Properties, Inc. $HIW

CORDA Investment Management LLC. bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) in the second quarter, HoldingsChannel reports. The firm bought 1,284,718 shares of the real estate investment trust’s stock, valued at approximately $38,747,000. Highwoods Properties accounts for 2.4% of CORDA Investment Management LLC.’s investment portfolio, making the stock its 18th largest holding.

Several other large investors also recently modified their holdings of HIW. Bank of New York Mellon Corp purchased a new position in Highwoods Properties during the 2nd quarter valued at about $38,595,000. State of Wyoming purchased a new stake in Highwoods Properties in the 2nd quarter worth approximately $83,000. Handelsbanken Fonder AB grew its position in shares of Highwoods Properties by 14.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,223 shares of the real estate investment trust’s stock worth $1,183,000 after buying an additional 5,100 shares during the last quarter. Everhart Financial Group Inc. bought a new stake in shares of Highwoods Properties in the 2nd quarter worth approximately $294,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Highwoods Properties by 752.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 940 shares during the last quarter. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Stock Down 0.9%

NYSE:HIW opened at $31.52 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.68 and a quick ratio of 1.68. The firm’s 50-day moving average price is $31.39 and its 200-day moving average price is $26.48. The company has a market capitalization of $3.48 billion, a PE ratio of 20.74 and a beta of 1.05. Highwoods Properties, Inc. has a 1-year low of $20.45 and a 1-year high of $35.44.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business had revenue of $216.38 million for the quarter, compared to analysts’ expectations of $212.15 million. During the same period last year, the business earned $0.89 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. On average, equities analysts predict that Highwoods Properties, Inc. will post 3.53 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.3%. The ex-dividend date is Monday, August 17th. Highwoods Properties’s dividend payout ratio (DPR) is presently 131.58%.

Highwoods Properties announced that its board has authorized a stock repurchase program on Wednesday, April 22nd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently commented on HIW shares. Morgan Stanley upped their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Wednesday, August 5th. Truist Financial upped their price objective on shares of Highwoods Properties from $23.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Mizuho lifted their target price on shares of Highwoods Properties from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.67.

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.