Highwoods Properties (NYSE:HIW) PT Raised to $33.00 at Truist Financial

Highwoods Properties (NYSE:HIW) had its price objective increased by analysts at Truist Financial from $29.00 to $33.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective points to a potential upside of 6.55% from the company’s previous close.

Separately, Deutsche Bank Aktiengesellschaft upped their price target on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.75.

Highwoods Properties Stock Up 1.0 %

Shares of NYSE:HIW opened at $30.97 on Tuesday. The business’s 50 day moving average is $26.64 and its 200 day moving average is $25.30. The stock has a market cap of $3.28 billion, a P/E ratio of 25.39 and a beta of 1.27. Highwoods Properties has a 52-week low of $17.06 and a 52-week high of $31.33. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). The firm had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. Highwoods Properties’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Sell-side analysts predict that Highwoods Properties will post 3.58 EPS for the current year.

Institutional Trading of Highwoods Properties

Several hedge funds and other institutional investors have recently made changes to their positions in HIW. Jump Financial LLC increased its position in Highwoods Properties by 383.5% during the 4th quarter. Jump Financial LLC now owns 220,426 shares of the real estate investment trust’s stock valued at $5,061,000 after buying an additional 174,836 shares in the last quarter. LSV Asset Management increased its holdings in shares of Highwoods Properties by 104.4% during the first quarter. LSV Asset Management now owns 263,500 shares of the real estate investment trust’s stock valued at $6,898,000 after acquiring an additional 134,600 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of Highwoods Properties in the 4th quarter valued at approximately $1,333,000. M&G Plc acquired a new stake in Highwoods Properties in the 1st quarter worth approximately $10,047,000. Finally, Ontario Teachers Pension Plan Board grew its position in Highwoods Properties by 162.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 59,826 shares of the real estate investment trust’s stock worth $1,374,000 after purchasing an additional 37,002 shares during the last quarter. Hedge funds and other 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.