Highwoods Properties (NYSE:HIW) Coverage Initiated at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Highwoods Properties (NYSE:HIWGet Rating) in a report released on Wednesday, The Fly reports. The firm set a “neutral” rating and a $34.00 price target on the real estate investment trust’s stock. Credit Suisse Group’s price objective points to a potential upside of 0.38% from the stock’s current price.

Several other brokerages have also weighed in on HIW. TheStreet lowered shares of Highwoods Properties from a “b-” rating to a “c+” rating in a research report on Friday, June 17th. Mizuho initiated coverage on shares of Highwoods Properties in a research note on Friday, April 22nd. They issued a “neutral” rating and a $46.00 price target on the stock. Finally, StockNews.com downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Saturday, April 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

NYSE:HIW opened at $33.87 on Wednesday. The firm’s 50-day moving average is $38.97 and its 200-day moving average is $42.38. Highwoods Properties has a 52-week low of $32.85 and a 52-week high of $48.82. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.20 and a beta of 1.08.

Highwoods Properties (NYSE:HIWGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. Highwoods Properties had a net margin of 37.75% and a return on equity of 11.99%. During the same period last year, the firm earned $0.91 EPS. Equities analysts predict that Highwoods Properties will post 3.95 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Verdence Capital Advisors LLC boosted its holdings in Highwoods Properties by 3.7% during the 1st quarter. Verdence Capital Advisors LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $343,000 after acquiring an additional 265 shares during the period. State of Michigan Retirement System raised its position in shares of Highwoods Properties by 1.1% in the 4th quarter. State of Michigan Retirement System now owns 26,401 shares of the real estate investment trust’s stock worth $1,177,000 after acquiring an additional 300 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in Highwoods Properties by 0.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 36,519 shares of the real estate investment trust’s stock valued at $1,628,000 after buying an additional 313 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its position in Highwoods Properties by 3.6% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,573 shares of the real estate investment trust’s stock valued at $427,000 after buying an additional 334 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Highwoods Properties by 1.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 23,300 shares of the real estate investment trust’s stock valued at $1,039,000 after buying an additional 347 shares in the last quarter. 98.16% of the stock is currently owned by hedge funds and other institutional investors.

About Highwoods Properties (Get Rating)

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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