Highwoods Properties (NYSE:HIW) Price Target Raised to $35.00

Highwoods Properties (NYSE:HIW) had its target price raised by Wells Fargo & Company from $32.00 to $35.00 in a report issued on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. Truist Financial increased their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird increased their price target on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their price objective for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Highwoods Properties currently has a consensus rating of “Hold” and a consensus target price of $29.33.

Highwoods Properties Trading Up 0.5 %

Shares of HIW stock opened at $33.83 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. Highwoods Properties has a 12-month low of $17.17 and a 12-month high of $36.78. The stock has a market capitalization of $3.59 billion, a P/E ratio of 25.25 and a beta of 1.26. The firm’s 50 day moving average is $33.44 and its 200 day moving average is $29.64.

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

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 5.91%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is currently 149.25%.

Hedge Funds Weigh In On Highwoods Properties

A number of hedge funds and other institutional investors have recently modified their holdings of HIW. Evergreen Capital Management LLC lifted its stake in Highwoods Properties by 2.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 371 shares in the last quarter. Fifth Third Bancorp grew its holdings in Highwoods Properties by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 376 shares in the last quarter. GAMMA Investing LLC increased its stake 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 acquiring an additional 440 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Highwoods Properties by 5.7% during the 3rd quarter. Assetmark Inc. now owns 9,254 shares of the real estate investment trust’s stock worth $310,000 after acquiring an additional 495 shares in the last quarter. Finally, Presima Securities ULC boosted its position in shares of Highwoods Properties by 1.0% during the 3rd quarter. Presima Securities ULC now owns 52,536 shares of the real estate investment trust’s stock valued at $1,760,000 after acquiring an additional 500 shares during the last quarter. Institutional investors 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.