Point72 Asia Singapore Pte. Ltd. Invests $277,000 in Highwoods Properties, Inc. (NYSE:HIW)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Highwoods Properties, Inc. (NYSE:HIW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 8,279 shares of the real estate investment trust’s stock, valued at approximately $277,000.

A number of other institutional investors have also added to or reduced their stakes in HIW. PGGM Investments raised its holdings in Highwoods Properties by 77.9% in the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock worth $95,347,000 after purchasing an additional 1,589,730 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Highwoods Properties by 131.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after buying an additional 1,536,067 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Highwoods Properties by 472.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 885,541 shares of the real estate investment trust’s stock valued at $29,674,000 after acquiring an additional 730,859 shares during the period. LSV Asset Management raised its stake in Highwoods Properties by 109.5% in the 2nd quarter. LSV Asset Management now owns 552,000 shares of the real estate investment trust’s stock worth $14,501,000 after acquiring an additional 288,500 shares during the last quarter. Finally, M&G PLC lifted its position in Highwoods Properties by 26.8% during the 3rd quarter. M&G PLC now owns 631,159 shares of the real estate investment trust’s stock worth $21,459,000 after acquiring an additional 133,575 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Analyst Ratings Changes

HIW has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and upped their price objective for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Robert W. Baird lifted their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.20.

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $31.14 on Wednesday. The business’s 50 day moving average price is $33.36 and its 200-day moving average price is $30.38. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $3.30 billion, a PE ratio of 23.24 and a beta of 1.24. Highwoods Properties, Inc. has a 1 year low of $20.24 and a 1 year high of $36.78.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The business had revenue of $204.30 million during the quarter, compared to analysts’ expectations of $204.96 million. During the same period in the prior year, the business posted $0.93 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is currently 149.25%.

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.