Highwoods Properties (NYSE:HIW) Reaches New 12-Month High at $31.67

Shares of Highwoods Properties, Inc. (NYSE:HIW) hit a new 52-week high during trading on Wednesday . The company traded as high as $31.67 and last traded at $31.43, with a volume of 699398 shares changing hands. The stock had previously closed at $30.97.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Robert W. Baird increased their price target on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial increased 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.86.

Highwoods Properties Trading Up 0.9 %

The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 25.39 and a beta of 1.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $27.63 and a 200-day moving average price of $25.85.

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

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.40%. Highwoods Properties’s dividend payout ratio is presently 163.93%.

Institutional Investors Weigh In On Highwoods Properties

Several institutional investors have recently made changes to their positions in HIW. Evergreen Capital Management LLC grew its stake in Highwoods Properties by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 13,653 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 371 shares during the period. Public Sector Pension Investment Board grew its stake in shares of Highwoods Properties by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 233,199 shares of the real estate investment trust’s stock worth $6,126,000 after acquiring an additional 16,521 shares during the period. Edge Capital Group LLC boosted its holdings in shares of Highwoods Properties by 4.4% in the second quarter. Edge Capital Group LLC now owns 152,548 shares of the real estate investment trust’s stock worth $4,007,000 after acquiring an additional 6,361 shares during the period. Hsbc Holdings PLC raised its stake in Highwoods Properties by 15.5% in the second quarter. Hsbc Holdings PLC now owns 73,891 shares of the real estate investment trust’s stock valued at $1,941,000 after purchasing an additional 9,915 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Highwoods Properties by 8.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,267 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 1,963 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.