Truist Financial Has Lowered Expectations for Highwoods Properties (NYSE:HIW) Stock Price

Highwoods Properties (NYSE:HIW) had its price objective decreased by Truist Financial from $33.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price indicates a potential upside of 9.46% from the company’s previous close.

Several other research firms also recently weighed in on HIW. Wells Fargo & Company raised their price target on Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Mizuho raised their price target on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group dropped their price target on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Robert W. Baird lifted their price objective on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.71.

Highwoods Properties Stock Down 0.1 %

HIW opened at $29.23 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The business has a 50 day simple moving average of $29.86 and a 200-day simple moving average of $31.61. The stock has a market capitalization of $3.15 billion, a P/E ratio of 21.82 and a beta of 1.24. Highwoods Properties has a 12 month low of $22.60 and a 12 month high of $36.78.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, meeting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. On average, equities analysts anticipate that Highwoods Properties will post 3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Highwoods Properties by 1.7% in the third quarter. State Street Corp now owns 7,289,806 shares of the real estate investment trust’s stock valued at $244,281,000 after acquiring an additional 124,646 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Highwoods Properties by 20.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock worth $99,869,000 after purchasing an additional 556,828 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Highwoods Properties by 40.9% during the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after purchasing an additional 908,401 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Highwoods Properties by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock worth $65,235,000 after purchasing an additional 71,670 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Highwoods Properties by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock worth $63,754,000 after purchasing an additional 12,958 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

About Highwoods Properties

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.