Highwoods Properties (NYSE:HIW) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Highwoods Properties (NYSE:HIW) had its price objective upped by analysts at Wells Fargo & Company from $32.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 5.20% from the company’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial boosted their price target on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird boosted their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Highwoods Properties currently has an average rating of “Hold” and a consensus price target of $29.33.

Highwoods Properties Trading Up 0.7 %

Highwoods Properties stock opened at $33.27 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The business’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $29.52. The firm has a market capitalization of $3.53 billion, a PE ratio of 24.83 and a beta of 1.26. Highwoods Properties has a 52 week low of $17.17 and a 52 week high of $36.78.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The firm had revenue of $204.30 million for the quarter, compared to the consensus estimate of $204.96 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. Equities research analysts forecast that Highwoods Properties will post 3.62 earnings per share for the current year.

Institutional Trading of Highwoods Properties

Institutional investors and hedge funds have recently made changes to their positions in the business. PGGM Investments increased its position in shares of Highwoods Properties by 77.9% in the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after buying an additional 1,589,730 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Highwoods Properties by 86.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock valued at $30,813,000 after buying an additional 545,066 shares in the last quarter. M&G Plc bought a new stake in shares of Highwoods Properties in the 1st quarter valued at $10,047,000. Lasalle Investment Management Securities LLC bought a new stake in shares of Highwoods Properties in the 1st quarter valued at $8,444,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Highwoods Properties by 245.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust’s stock valued at $11,283,000 after buying an additional 306,265 shares in the last quarter. 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.