Highwoods Properties (NYSE:HIW) Hits New 1-Year High – Here’s Why

Highwoods Properties, Inc. (NYSE:HIW) reached a new 52-week high on Wednesday . The company traded as high as $36.78 and last traded at $36.43, with a volume of 239871 shares changing hands. The stock had previously closed at $35.59.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HIW shares. Wells Fargo & Company raised their price target on Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Robert W. Baird raised their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and upped their price target for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Finally, Truist Financial raised their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.50.

Highwoods Properties Stock Performance

The firm has a market cap of $3.77 billion, a P/E ratio of 29.16 and a beta of 1.26. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. The business has a fifty day simple moving average of $32.99 and a 200-day simple moving average of $29.00.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The business had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. During the same quarter in the previous year, the business earned $0.93 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts predict that Highwoods Properties, Inc. will post 3.6 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.62%. Highwoods Properties’s dividend payout ratio is currently 163.93%.

Institutional Investors Weigh In On Highwoods Properties

Hedge funds have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC boosted its stake in Highwoods Properties by 45.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $49,000 after purchasing an additional 580 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Highwoods Properties by 141.3% during the second quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 1,214 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Highwoods Properties in the 1st quarter worth about $107,000. Blue Trust Inc. raised its position in Highwoods Properties by 269.8% in the 3rd quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 2,350 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Highwoods Properties by 11.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,206 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 440 shares during the last quarter. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Company Profile

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