Highwoods Properties (NYSE:HIW) PT Raised to $32.00 at Wells Fargo & Company

Highwoods Properties (NYSE:HIW) had its target price raised by equities research analysts at Wells Fargo & Company from $22.00 to $32.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 1.23% from the company’s previous close.

Several other analysts have also commented on the company. Truist Financial raised their target price on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird raised their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and a consensus price target of $27.29.

Highwoods Properties Trading Up 0.9 %

NYSE:HIW opened at $32.40 on Wednesday. The company has a market capitalization of $3.43 billion, a P/E ratio of 26.56 and a beta of 1.26. 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 has a 12 month low of $17.06 and a 12 month high of $32.68. The firm has a fifty day simple moving average of $30.26 and a 200-day simple moving average of $27.12.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). The firm had revenue of $204.74 million during the quarter, compared to analysts’ expectations of $205.06 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The business’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.94 EPS. On average, equities research analysts anticipate that Highwoods Properties will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Highwoods Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC lifted its holdings in Highwoods Properties by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 371 shares in the last quarter. Fifth Third Bancorp lifted its stake in Highwoods Properties by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 376 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Highwoods Properties by 4.9% in the 1st quarter. Park Avenue Securities LLC now owns 9,274 shares of the real estate investment trust’s stock worth $243,000 after buying an additional 435 shares during the last quarter. GAMMA Investing LLC increased its stake in Highwoods Properties by 11.7% during the 2nd quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 440 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in shares of 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 acquiring an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

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.