Highwoods Properties (NYSE:HIW) Price Target Raised to $32.00

Highwoods Properties (NYSE:HIW) had its price target upped by Robert W. Baird from $30.00 to $32.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company increased their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and increased their price objective for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Finally, Truist Financial boosted their target price on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Highwoods Properties currently has an average rating of “Hold” and a consensus target price of $28.83.

Highwoods Properties Trading Down 2.7 %

Shares of HIW stock opened at $32.64 on Friday. The company has a 50 day moving average price of $33.31 and a 200 day moving average price of $29.42. The stock has a market capitalization of $3.46 billion, a P/E ratio of 24.36 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. Highwoods Properties has a fifty-two week low of $17.17 and a fifty-two week high of $36.78.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. During the same period in the prior year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Highwoods Properties will post 3.62 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is 149.25%.

Hedge Funds Weigh In On Highwoods Properties

Hedge funds have recently modified their holdings of the business. Abich Financial Wealth Management LLC raised its position 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 valued at $49,000 after purchasing an additional 580 shares during the last quarter. Versant Capital Management Inc boosted its stake 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 worth $54,000 after buying an additional 1,214 shares during the period. Blue Trust Inc. boosted its stake in shares of Highwoods Properties by 269.8% during the third 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 period. Pathway Financial Advisers LLC purchased a new position in shares of Highwoods Properties during the first quarter worth about $107,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Highwoods Properties by 35.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust’s stock valued at $135,000 after acquiring an additional 1,069 shares during the period. 96.31% of the stock is currently owned by hedge funds and other 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.