Highwoods Properties, Inc. (NYSE:HIW) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Highwoods Properties, Inc. (NYSE:HIW) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $27.86.

HIW has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. Truist Financial increased their price objective on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird boosted their target price on Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and raised their price target for the company from $31.00 to $35.00 in a report on Tuesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HIW. Evergreen Capital Management LLC lifted its position in shares of Highwoods Properties by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 371 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Highwoods Properties by 3.6% in the second quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust’s stock valued at $283,000 after purchasing an additional 376 shares in the last quarter. Park Avenue Securities LLC increased its position in Highwoods Properties by 4.9% in the first quarter. Park Avenue Securities LLC now owns 9,274 shares of the real estate investment trust’s stock worth $243,000 after purchasing an additional 435 shares during the last quarter. GAMMA Investing LLC raised its stake in Highwoods Properties by 11.7% during the second quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 440 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in Highwoods Properties by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 46,144 shares of the real estate investment trust’s stock valued at $1,059,000 after purchasing an additional 450 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Down 0.3 %

Shares of NYSE:HIW opened at $32.94 on Friday. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $33.96. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 27.00 and a beta of 1.26. The stock has a fifty day simple moving average of $31.76 and a two-hundred day simple moving average of $27.99. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). The firm had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, research analysts anticipate that Highwoods Properties will post 3.59 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.07%. The ex-dividend date was Monday, August 19th. Highwoods Properties’s payout ratio is currently 163.93%.

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.