Highwoods Properties (NYSE:HIW) Price Target Lowered to $32.00 at Truist Financial

Highwoods Properties (NYSE:HIW) had its target price decreased by Truist Financial from $33.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

HIW has been the topic of several other research reports. Jefferies Financial Group lowered their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company increased their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Robert W. Baird lifted 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, Mizuho upped their target price on Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Price Performance

NYSE HIW opened at $29.23 on Thursday. Highwoods Properties has a 12 month low of $22.60 and a 12 month high of $36.78. The firm has a market capitalization of $3.10 billion, a PE ratio of 21.82 and a beta of 1.24. The company’s 50 day simple moving average is $29.86 and its 200 day simple moving average is $31.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. As a group, equities research analysts forecast that Highwoods Properties will post 3.61 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. Highwoods Properties’s dividend payout ratio is 149.25%.

Institutional Investors Weigh In On Highwoods Properties

Several hedge funds have recently bought and sold shares of HIW. Jones Financial Companies Lllp increased its holdings in shares of Highwoods Properties by 375.0% in the 4th quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 675 shares during the period. Quarry LP purchased a new position in Highwoods Properties during the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC increased its stake in Highwoods Properties by 124.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 1,351 shares during the period. EverSource Wealth Advisors LLC lifted its position in Highwoods Properties by 363.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock worth $91,000 after buying an additional 2,331 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Highwoods Properties by 12.0% during the 4th quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 327 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

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.