Analysts Set Highwoods Properties, Inc. (NYSE:HIW) Price Target at $26.50

Shares of Highwoods Properties, Inc. (NYSE:HIW) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $27.29.

Several equities research analysts recently weighed in on the company. Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird increased their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC raised its position in shares of 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 acquiring an additional 371 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Highwoods Properties by 3.6% in the 2nd quarter. Fifth Third Bancorp now owns 10,766 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 376 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Highwoods Properties by 4.9% in the 1st quarter. Park Avenue Securities LLC now owns 9,274 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 435 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Highwoods Properties by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 46,144 shares of the real estate investment trust’s stock worth $1,059,000 after acquiring an additional 450 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Price Performance

HIW opened at $32.84 on Monday. The stock has a 50-day moving average price of $30.39 and a 200-day moving average price of $27.23. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $32.88. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $3.48 billion, a P/E ratio of 26.92 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $205.06 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. Highwoods Properties’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities analysts predict that Highwoods Properties will post 3.58 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend was Monday, August 19th. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

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.