Highwoods Properties (NYSE:HIW) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Highwoods Properties (NYSE:HIW) from a hold rating to a sell rating in a report issued on Saturday.

Other equities analysts also recently issued research reports about the company. Morgan Stanley upped their target price on Highwoods Properties from $23.00 to $24.00 and gave the company an “underweight” rating in a report on Tuesday, October 21st. Wells Fargo & Company decreased their price objective on shares of Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Highwoods Properties in a research note on Wednesday, October 8th. New Street Research set a $30.00 price target on shares of Highwoods Properties in a research report on Monday, October 13th. Finally, Truist Financial raised their price objective on shares of Highwoods Properties from $32.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Highwoods Properties presently has a consensus rating of “Hold” and an average target price of $31.00.

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $25.59 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 21.87 and a beta of 1.06. The company has a 50-day moving average price of $27.56 and a 200-day moving average price of $29.67. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.44. Highwoods Properties has a 12 month low of $24.18 and a 12 month high of $32.76.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. The company had revenue of $201.77 million for the quarter, compared to analysts’ expectations of $205.74 million. Highwoods Properties had a return on equity of 5.48% and a net margin of 15.98%.Highwoods Properties’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. As a group, equities analysts anticipate that Highwoods Properties will post 3.36 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 17th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend was Monday, November 17th. Highwoods Properties’s dividend payout ratio is 170.94%.

Hedge Funds Weigh In On Highwoods Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Highwoods Properties by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 16,496,091 shares of the real estate investment trust’s stock worth $524,906,000 after purchasing an additional 295,289 shares in the last quarter. State Street Corp boosted its stake in shares of Highwoods Properties by 1.3% in the 2nd quarter. State Street Corp now owns 6,564,027 shares of the real estate investment trust’s stock worth $204,076,000 after buying an additional 86,506 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Highwoods Properties by 3.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 6,302,750 shares of the real estate investment trust’s stock worth $200,554,000 after purchasing an additional 205,761 shares during the last quarter. Aew Capital Management L P boosted its position in Highwoods Properties by 95.4% in the third quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock worth $74,604,000 after purchasing an additional 1,144,991 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Highwoods Properties by 0.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,205,348 shares of the real estate investment trust’s stock valued at $70,174,000 after purchasing an additional 14,410 shares during the period. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Company Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.