Highwoods Properties (NYSE:HIW) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Highwoods Properties, Inc. (NYSE:HIW) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.92 and traded as high as $29.70. Highwoods Properties shares last traded at $29.4270, with a volume of 1,249,788 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Mizuho lowered their price objective on Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. Truist Financial dropped their price objective on Highwoods Properties from $29.00 to $23.00 and set a “hold” rating on the stock in a research note on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $28.00 target price on shares of Highwoods Properties in a research report on Thursday, May 14th. Finally, Weiss Ratings raised Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $27.33.

Highwoods Properties Stock Performance

The firm has a market capitalization of $3.18 billion, a P/E ratio of 34.38 and a beta of 1.09. The company’s 50 day moving average is $26.19 and its 200-day moving average is $24.94. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.46.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.13. Highwoods Properties had a net margin of 11.64% and a return on equity of 3.97%. The business had revenue of $214.03 million during the quarter, compared to analysts’ expectations of $209.06 million. During the same period last year, the company posted $0.83 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. As a group, equities analysts anticipate that Highwoods Properties, Inc. will post 3.53 EPS for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Monday, May 18th were paid a $0.50 dividend. The ex-dividend date was Monday, May 18th. This represents a $2.00 annualized dividend and a dividend yield of 6.9%. Highwoods Properties’s dividend payout ratio (DPR) is currently 238.10%.

Highwoods Properties announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 22nd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HIW. Caitong International Asset Management Co. Ltd grew its stake in Highwoods Properties by 88.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 372 shares during the period. Bell Investment Advisors Inc increased its holdings in Highwoods Properties by 921.4% during the 3rd quarter. Bell Investment Advisors Inc now owns 858 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 774 shares in the last quarter. Beacon Financial Strategies CORP purchased a new stake in shares of Highwoods Properties in the fourth quarter worth approximately $34,000. Avalon Trust Co purchased a new stake in shares of Highwoods Properties in the third quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Highwoods Properties by 292.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,252 shares in the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

About Highwoods Properties

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.