Highwoods Properties (NYSE:HIW) Hits New 12-Month High at $29.82

Shares of Highwoods Properties, Inc. (NYSE:HIW) hit a new 52-week high on Wednesday . The stock traded as high as $29.82 and last traded at $29.66, with a volume of 432541 shares trading hands. The stock had previously closed at $28.72.

Analyst Ratings Changes

A number of research analysts recently issued reports on HIW shares. Deutsche Bank Aktiengesellschaft lifted their target price on Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Morgan Stanley boosted their target price on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.75.

Highwoods Properties Price Performance

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.34 and a current ratio of 1.29. The stock has a market cap of $3.25 billion, a PE ratio of 23.89 and a beta of 1.27. The stock has a 50 day moving average of $26.39 and a two-hundred day moving average of $25.11.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.31). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The firm had revenue of $204.74 million during the quarter, compared to analysts’ expectations of $205.06 million. During the same period last year, the business earned $0.94 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Equities analysts anticipate that Highwoods Properties, Inc. will post 3.57 EPS for the current year.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Monday, August 19th. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

Institutional Trading of Highwoods Properties

Several hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Highwoods Properties during the fourth quarter valued at $31,000. Riverview Trust Co purchased a new position in Highwoods Properties during the 1st quarter valued at about $34,000. Planned Solutions Inc. acquired a new position in shares of Highwoods Properties in the 4th quarter valued at about $38,000. Abich Financial Wealth Management LLC lifted its position in shares of Highwoods Properties by 45.5% in 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. Finally, GAMMA Investing LLC acquired a new stake in shares of Highwoods Properties during the fourth quarter worth approximately $53,000. 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.