Brokerages Set Highwoods Properties, Inc. (NYSE:HIW) PT at $29.71

Shares of Highwoods Properties, Inc. (NYSE:HIW – Get Rating) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.71.

Several research firms recently issued reports on HIW. Wells Fargo & Company decreased their target price on shares of Highwoods Properties from $34.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, March 16th. Truist Financial cut their price target on shares of Highwoods Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, February 27th. StockNews.com assumed coverage on shares of Highwoods Properties in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Morgan Stanley cut their price target on shares of Highwoods Properties from $26.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, March 31st.

Highwoods Properties Price Performance

HIW opened at $20.26 on Tuesday. The company’s 50 day simple moving average is $22.01 and its 200 day simple moving average is $26.12. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.32 and a current ratio of 1.32. Highwoods Properties has a 1 year low of $19.45 and a 1 year high of $39.53. The stock has a market capitalization of $2.14 billion, a PE ratio of 13.42 and a beta of 1.13.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Stockholders of record on Monday, May 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.87%. Highwoods Properties’s dividend payout ratio is currently 132.45%.

Insider Buying and Selling

In related news, CEO Theodore J. Klinck purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was acquired at an average price of $19.81 per share, for a total transaction of $99,050.00. Following the completion of the purchase, the chief executive officer now owns 337,177 shares in the company, valued at $6,679,476.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of Highwoods Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Highwoods Properties by 14.1% in the first quarter. Raymond James & Associates now owns 28,170 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 3,480 shares during the period. HighTower Advisors LLC acquired a new position in Highwoods Properties in the first quarter worth $215,000. MetLife Investment Management LLC boosted its holdings in Highwoods Properties by 34.0% in the first quarter. MetLife Investment Management LLC now owns 67,793 shares of the real estate investment trust’s stock worth $3,101,000 after purchasing an additional 17,208 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Highwoods Properties by 11.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,442 shares of the real estate investment trust’s stock worth $1,758,000 after purchasing an additional 3,834 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Highwoods Properties by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 144,790 shares of the real estate investment trust’s stock worth $6,847,000 after purchasing an additional 7,918 shares during the period. Institutional investors own 94.57% of the company’s stock.

Highwoods Properties Company Profile

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Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.