Highwoods Properties, Inc. (NYSE:HIW) Receives $31.20 Consensus PT from Brokerages

Shares of Highwoods Properties, Inc. (NYSE:HIW) have been given a consensus rating of “Hold” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.17.

A number of brokerages have weighed in on HIW. Wells Fargo & Company raised their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Jefferies Financial Group cut their price target on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and increased their price objective for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Finally, Robert W. Baird raised their price target on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st.

Highwoods Properties Stock Up 0.4 %

Shares of HIW stock opened at $30.78 on Thursday. The firm’s fifty day moving average price is $31.76 and its two-hundred day moving average price is $31.21. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. Highwoods Properties has a 1 year low of $21.37 and a 1 year high of $36.78. The firm has a market capitalization of $3.26 billion, a P/E ratio of 22.97 and a beta of 1.24.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results 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 business 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 6.05% and a net margin of 17.40%. Highwoods Properties’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. On average, equities analysts predict that Highwoods Properties will post 3.62 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date was Monday, November 18th. Highwoods Properties’s payout ratio is currently 149.25%.

Institutional Investors Weigh In On Highwoods Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new stake in Highwoods Properties during the third quarter valued at approximately $48,000. Versant Capital Management Inc grew its position in Highwoods Properties by 12.0% in the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 327 shares in the last quarter. Blue Trust Inc. grew its position in Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust’s stock worth $108,000 after acquiring an additional 2,350 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Highwoods Properties by 55.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,260 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Highwoods Properties by 35.1% during the 3rd 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 last quarter. 96.31% of the stock is currently owned by institutional investors.

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.