Robert W. Baird Boosts Highwoods Properties (NYSE:HIW) Price Target to $32.00

Highwoods Properties (NYSE:HIW) had its price target boosted by Robert W. Baird from $30.00 to $32.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

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

Highwoods Properties Stock Down 2.7 %

Shares of HIW stock traded down $0.90 on Friday, hitting $32.64. The company’s stock had a trading volume of 1,196,773 shares, compared to its average volume of 988,232. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 24.35 and a beta of 1.26. Highwoods Properties has a fifty-two week low of $17.17 and a fifty-two week high of $36.78. The firm’s fifty day moving average price is $33.31 and its 200-day moving average price is $29.38. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31.

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

Highwoods Properties Dividend Announcement

The business 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 $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 6.13%. Highwoods Properties’s dividend payout ratio is 149.25%.

Institutional Investors Weigh In On Highwoods Properties

Institutional investors have recently added to or reduced their stakes in the company. PGGM Investments raised its holdings in Highwoods Properties by 77.9% in the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after acquiring an additional 1,589,730 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Highwoods Properties by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,531,611 shares of the real estate investment trust’s stock valued at $40,233,000 after purchasing an additional 36,285 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Highwoods Properties by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock worth $32,251,000 after purchasing an additional 56,399 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Highwoods Properties by 86.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock worth $30,813,000 after buying an additional 545,066 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Highwoods Properties by 11.0% in the 1st quarter. Sei Investments Co. now owns 957,610 shares of the real estate investment trust’s stock valued at $25,070,000 after buying an additional 94,804 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.

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.