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

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Highwoods Properties, Inc. (NYSE:HIW) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,279 shares of the real estate investment trust’s stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its stake in shares of Highwoods Properties by 184.7% in the third quarter. Oppenheimer & Co. Inc. now owns 27,048 shares of the real estate investment trust’s stock worth $906,000 after acquiring an additional 17,548 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in Highwoods Properties in the 3rd quarter valued at approximately $2,085,000. M&G Plc boosted its stake in Highwoods Properties by 28.8% during the 2nd quarter. M&G Plc now owns 497,584 shares of the real estate investment trust’s stock valued at $12,937,000 after purchasing an additional 111,148 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Highwoods Properties by 7.4% in the 2nd quarter. Victory Capital Management Inc. now owns 848,653 shares of the real estate investment trust’s stock worth $22,294,000 after buying an additional 58,634 shares in the last quarter. Finally, Harvest Portfolios Group Inc. lifted its stake in Highwoods Properties by 141.2% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 36,647 shares of the real estate investment trust’s stock valued at $1,228,000 after acquiring an additional 21,455 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Trading Down 1.8 %

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

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

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.42%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s dividend payout ratio is presently 149.25%.

Analyst Upgrades and Downgrades

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

Highwoods Properties 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.