Highwoods Properties (NYSE:HIW) Given New $35.00 Price Target at Wells Fargo & Company

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

Other equities research analysts have also issued reports about the company. Truist Financial upped their price objective on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft downgraded 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 note on Tuesday, October 1st. Finally, Robert W. Baird raised their target price on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday. One 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 data from MarketBeat.com, Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $29.33.

Highwoods Properties Price Performance

NYSE HIW traded up $0.49 during trading hours on Monday, reaching $33.53. 51,519 shares of the stock traded hands, compared to its average volume of 988,617. 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 company has a market cap of $3.55 billion, a price-to-earnings ratio of 24.66 and a beta of 1.26. The stock has a 50 day simple moving average of $33.31 and a two-hundred day simple moving average of $29.46. Highwoods Properties has a 1 year low of $17.17 and a 1 year high of $36.78.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74). The company 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. On average, analysts predict that Highwoods Properties will post 3.62 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. Investors 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 5.96%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio is currently 149.25%.

Institutional Trading of Highwoods Properties

Several institutional investors have recently bought and sold shares of HIW. Abich Financial Wealth Management LLC increased its stake in shares of Highwoods Properties by 45.5% during the first 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 boosted its position 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. grew its stake in shares of Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 2,350 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Highwoods Properties by 55.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 1,167 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new position in Highwoods Properties during the 1st quarter worth about $107,000. 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.