Highwoods Properties, Inc. (NYSE:HIW) Stock Has Consensus Price Target of $32.00

Highwoods Properties, Inc. (NYSE:HIW) has received an average recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.00.

Several research firms recently commented on HIW. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a research note on Wednesday, August 5th. Citigroup boosted their price target on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Wells Fargo & Company boosted their price target on Highwoods Properties from $26.00 to $32.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 1st. Morgan Stanley increased their price target on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Huntington began coverage on shares of Highwoods Properties in a research report on Wednesday, October 28th. They set a “hold” rating for the company.

Institutional Investors Weigh In On Highwoods Properties

Several hedge funds and other institutional investors have recently made changes to their positions in HIW. Pension & Wealth Management Advisors Inc. purchased a new stake in Highwoods Properties in the 3rd quarter valued at $28,000. Elevation Wealth Partners LLC boosted its holdings in Highwoods Properties by 752.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 940 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Highwoods Properties during the 2nd quarter worth $34,000. Allworth Financial LP purchased a new position in Highwoods Properties during the 2nd quarter worth $38,000. Finally, Nykredit A S bought a new stake in shares of Highwoods Properties in the 2nd quarter worth $66,000. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Stock Down 0.7%

Shares of NYSE HIW opened at $31.49 on Friday. The company has a 50 day simple moving average of $30.16 and a 200 day simple moving average of $27.63. The firm has a market cap of $3.47 billion, a PE ratio of 18.64 and a beta of 1.08. Highwoods Properties has a 1 year low of $20.45 and a 1 year high of $35.44. The company has a debt-to-equity ratio of 1.38, a current ratio of 2.08 and a quick ratio of 2.08.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.08. The business had revenue of $218.18 million during the quarter, compared to analyst estimates of $216.39 million. Highwoods Properties had a return on equity of 7.68% and a net margin of 22.56%. Highwoods Properties’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. On average, research analysts forecast that Highwoods Properties will post 3.57 EPS for the current year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 16th. This represents a $2.00 annualized dividend and a dividend yield of 6.4%. Highwoods Properties’s payout ratio is currently 118.34%.

About Highwoods Properties

Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.