Highwoods Properties, Inc. (NYSE:HIW) Receives $30.71 Consensus Target Price from Analysts

Highwoods Properties, Inc. (NYSE:HIW) has been assigned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $30.71.

Several research firms recently issued reports on HIW. Jefferies Financial Group decreased their target price on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. StockNews.com lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. Robert W. Baird boosted 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. Finally, Truist Financial cut their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 13th.

Institutional Investors Weigh In On Highwoods Properties

Large investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. grew its holdings in shares of Highwoods Properties by 184.7% during the third quarter. Oppenheimer & Co. Inc. now owns 27,048 shares of the real estate investment trust’s stock worth $906,000 after buying an additional 17,548 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in shares of Highwoods Properties in the third quarter valued at about $2,085,000. Point72 Asset Management L.P. grew its holdings in shares of Highwoods Properties by 436.3% in the third quarter. Point72 Asset Management L.P. now owns 215,724 shares of the real estate investment trust’s stock valued at $7,229,000 after purchasing an additional 175,499 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Highwoods Properties by 65.1% in the third quarter. BNP Paribas Financial Markets now owns 6,562 shares of the real estate investment trust’s stock valued at $220,000 after purchasing an additional 2,587 shares during the period. Finally, Harvest Portfolios Group Inc. grew its holdings in shares of Highwoods Properties by 141.2% in the third quarter. Harvest Portfolios Group Inc. now owns 36,647 shares of the real estate investment trust’s stock valued at $1,228,000 after purchasing an additional 21,455 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

HIW opened at $29.22 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average price of $29.68 and a 200 day moving average price of $31.59. Highwoods Properties has a 1 year low of $23.14 and a 1 year high of $36.78. The stock has a market cap of $3.14 billion, a P/E ratio of 30.76 and a beta of 1.24.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Equities research analysts anticipate that Highwoods Properties will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend is Tuesday, February 18th. Highwoods Properties’s payout ratio is 210.53%.

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.