Highwoods Properties, Inc. (NYSE:HIW – Get Free Report) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 5,010,000 shares, a decrease of 14.5% from the August 15th total of 5,860,000 shares. Based on an average trading volume of 812,600 shares, the days-to-cover ratio is presently 6.2 days.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on HIW. Robert W. Baird boosted their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial raised their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company upped their price objective on shares of Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.29.
Read Our Latest Stock Report on HIW
Institutional Inflows and Outflows
Highwoods Properties Price Performance
Shares of Highwoods Properties stock traded up $0.32 during trading on Wednesday, hitting $33.03. 841,552 shares of the company’s stock traded hands, compared to its average volume of 1,013,735. The company has a market cap of $3.50 billion, a PE ratio of 27.39 and a beta of 1.26. The firm’s fifty day moving average price is $30.65 and its 200 day moving average price is $27.35. Highwoods Properties has a twelve month low of $17.06 and a twelve month high of $33.79. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29.
Highwoods Properties (NYSE:HIW – Get Free Report) 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). Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The company had revenue of $204.74 million for the quarter, compared to analyst estimates of $205.06 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts forecast that Highwoods Properties will post 3.58 earnings per share for the current year.
Highwoods Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 19th. This represents a $2.00 annualized dividend and a yield of 6.06%. Highwoods Properties’s dividend 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.
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