Highwoods Properties (NYSE:HIW) Reaches New 12-Month High at $33.80

Highwoods Properties, Inc. (NYSE:HIW) reached a new 52-week high on Tuesday . The stock traded as high as $33.80 and last traded at $33.74, with a volume of 28361 shares changing hands. The stock had previously closed at $33.60.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial raised their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Robert W. Baird raised their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus target price of $27.29.

Highwoods Properties Stock Up 0.4 %

The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. The stock has a 50 day moving average of $31.10 and a 200 day moving average of $27.59. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 27.74 and a beta of 1.26.

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

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Monday, August 19th. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Riverview Trust Co bought a new stake in shares of Highwoods Properties during the 1st quarter worth about $34,000. Abich Financial Wealth Management LLC raised its stake in Highwoods Properties by 45.5% in the 1st 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 raised its stake in Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,214 shares in the last quarter. GAMMA Investing LLC raised its stake in Highwoods Properties by 63.3% in the 1st quarter. GAMMA Investing LLC now owns 3,766 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 1,460 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Highwoods Properties in the 1st quarter worth about $107,000. Institutional investors own 96.31% of the company’s stock.

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.