SCS Capital Management LLC Buys New Shares in Highwoods Properties, Inc. $HIW

SCS Capital Management LLC bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) in the second quarter, Holdings Channel reports. The fund bought 585,500 shares of the real estate investment trust’s stock, valued at approximately $17,659,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. CORDA Investment Management LLC. bought a new position in shares of Highwoods Properties in the second quarter valued at $38,747,000. Bank of New York Mellon Corp bought a new stake in shares of Highwoods Properties during the 2nd quarter worth $38,595,000. State of Wyoming bought a new stake in shares of Highwoods Properties during the 2nd quarter worth $83,000. Handelsbanken Fonder AB boosted its stake in shares of Highwoods Properties by 14.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 39,223 shares of the real estate investment trust’s stock worth $1,183,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Everhart Financial Group Inc. acquired a new position in shares of Highwoods Properties in the 2nd quarter worth $294,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HIW. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a research report on Wednesday, August 5th. Citigroup increased their price target on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Morgan Stanley lifted their price target on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Truist Financial boosted their price objective on Highwoods Properties from $23.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Finally, Wells Fargo & Company boosted their price objective on Highwoods Properties from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $31.67.

Highwoods Properties Trading Down 0.9%

Highwoods Properties stock opened at $31.52 on Friday. Highwoods Properties, Inc. has a 52 week low of $20.45 and a 52 week high of $35.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 20.74 and a beta of 1.05. The company has a 50 day moving average price of $31.39 and a 200 day moving average price of $26.48.

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

Highwoods Properties announced that its Board of Directors has initiated a stock repurchase program on Wednesday, April 22nd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 9.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Highwoods Properties Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, August 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.3%. Highwoods Properties’s payout ratio is currently 131.58%.

Highwoods Properties Company 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.