Highwoods Properties (NYSE:HIW) Price Target Raised to $26.00

Highwoods Properties (NYSE:HIW) had its price objective boosted by investment analysts at Wells Fargo & Company from $24.00 to $26.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 1.53% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Morgan Stanley raised shares of Highwoods Properties from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $24.00 to $23.00 in a research report on Tuesday, March 31st. Citigroup dropped their target price on shares of Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Monday, March 23rd. Mizuho dropped their target price on shares of Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Finally, Truist Financial dropped their target price on shares of Highwoods Properties from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $27.33.

Highwoods Properties Stock Up 1.2%

Shares of NYSE HIW traded up $0.31 during mid-day trading on Monday, reaching $26.41. The company had a trading volume of 213,037 shares, compared to its average volume of 1,378,872. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.46. The firm has a 50 day simple moving average of $23.67 and a two-hundred day simple moving average of $24.84. The stock has a market cap of $2.91 billion, a P/E ratio of 31.38 and a beta of 1.09. Highwoods Properties has a 52-week low of $20.45 and a 52-week high of $32.76.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.13. The firm had revenue of $214.03 million for the quarter, compared to the consensus estimate of $209.06 million. Highwoods Properties had a net margin of 11.64% and a return on equity of 3.97%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $0.83 EPS. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. Sell-side analysts predict that Highwoods Properties will post 3.53 earnings per share for the current year.

Highwoods Properties declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 22nd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HIW. Aew Capital Management L P boosted its holdings in shares of Highwoods Properties by 95.4% in the third quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock valued at $74,604,000 after acquiring an additional 1,144,991 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of Highwoods Properties by 133.8% in the first quarter. Quantinno Capital Management LP now owns 1,808,104 shares of the real estate investment trust’s stock valued at $38,712,000 after acquiring an additional 1,034,694 shares in the last quarter. Norges Bank purchased a new stake in shares of Highwoods Properties in the fourth quarter valued at about $26,251,000. GRS Advisors LLC boosted its holdings in shares of Highwoods Properties by 64.1% in the third quarter. GRS Advisors LLC now owns 2,046,809 shares of the real estate investment trust’s stock valued at $65,129,000 after acquiring an additional 799,339 shares in the last quarter. Finally, Bayhunt Capital LLC purchased a new stake in shares of Highwoods Properties in the fourth quarter valued at about $13,125,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.