Highwoods Properties, Inc. (NYSE:HIW) Receives Average Recommendation of “Hold” from Analysts

Highwoods Properties, Inc. (NYSE:HIW) has been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $28.50.

HIW has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price objective on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Robert W. Baird raised their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and raised their price objective for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HIW. abrdn plc boosted its stake in shares of Highwoods Properties by 97.7% in the third quarter. abrdn plc now owns 37,677 shares of the real estate investment trust’s stock valued at $1,263,000 after purchasing an additional 18,616 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Highwoods Properties in the third quarter valued at approximately $259,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Highwoods Properties by 35.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,114 shares of the real estate investment trust’s stock valued at $135,000 after purchasing an additional 1,069 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Highwoods Properties by 403.0% in the third quarter. Assenagon Asset Management S.A. now owns 67,544 shares of the real estate investment trust’s stock valued at $2,263,000 after purchasing an additional 54,115 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new position in shares of Highwoods Properties in the third quarter valued at approximately $283,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

Shares of NYSE HIW opened at $34.74 on Tuesday. The company’s fifty day moving average price is $33.13 and its 200 day moving average price is $29.19. Highwoods Properties has a 1 year low of $17.17 and a 1 year high of $36.78. The company has a market capitalization of $3.68 billion, a PE ratio of 28.48 and a beta of 1.26. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. Highwoods Properties had a return on equity of 6.01% and a net margin of 17.40%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, research analysts predict that Highwoods Properties will post 3.6 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is presently 163.93%.

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.