Highwoods Properties, Inc. (NYSE:HIW) Receives $32.50 Consensus Price Target from Brokerages

Highwoods Properties, Inc. (NYSE:HIW) has earned an average rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $32.50.

Several analysts recently issued reports on the company. Jefferies Financial Group initiated coverage on Highwoods Properties in a research note on Monday, March 17th. They set a “buy” rating and a $32.00 target price on the stock. StockNews.com upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Truist Financial cut their target price on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th.

Highwoods Properties Stock Performance

Shares of NYSE HIW opened at $30.47 on Wednesday. The stock has a market cap of $3.29 billion, a PE ratio of 32.07 and a beta of 1.20. Highwoods Properties has a 1 year low of $24.07 and a 1 year high of $36.78. The firm has a fifty day moving average price of $28.33 and a 200-day moving average price of $29.80. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. Highwoods Properties’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 EPS. Equities analysts anticipate that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date is Monday, May 19th. Highwoods Properties’s dividend payout ratio (DPR) is presently 124.22%.

Institutional Investors Weigh In On Highwoods Properties

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its stake in shares of Highwoods Properties by 5.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 383 shares in the last quarter. GAMMA Investing LLC increased its stake in Highwoods Properties by 10.3% during the first quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 493 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Highwoods Properties by 7.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,908 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 496 shares during the last quarter. US Bancorp DE raised its position in Highwoods Properties by 2.5% during the first quarter. US Bancorp DE now owns 22,514 shares of the real estate investment trust’s stock valued at $667,000 after purchasing an additional 558 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Highwoods Properties by 3.4% in the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 560 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.