Highwoods Properties, Inc. (NYSE:HIW) Receives $27.33 Average Price Target from Analysts

Shares of Highwoods Properties, Inc. (NYSE:HIW) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.3333.

HIW has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 9th. Citigroup cut their price target on shares of Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Mizuho cut their price target on shares of Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Morgan Stanley raised shares of Highwoods Properties from an “underweight” rating to an “equal weight” rating and cut their price target for the stock from $24.00 to $23.00 in a report on Tuesday, March 31st. Finally, Truist Financial dropped their target price on shares of Highwoods Properties from $29.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, March 17th.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock opened at $29.43 on Thursday. The company has a 50 day moving average of $25.30 and a 200-day moving average of $24.87. Highwoods Properties has a 1-year low of $20.45 and a 1-year high of $32.76. 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 company has a market cap of $3.24 billion, a PE ratio of 35.03 and a beta of 1.09.

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

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Monday, May 18th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.8%. Highwoods Properties’s dividend payout ratio is 238.10%.

Highwoods Properties declared that its Board of Directors has approved a stock buyback plan on Wednesday, April 22nd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Highwoods Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIW. Caitong International Asset Management Co. Ltd lifted its stake in Highwoods Properties by 88.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 372 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in Highwoods Properties by 921.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 858 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 774 shares during the last quarter. Beacon Financial Strategies CORP bought a new position in Highwoods Properties in the 4th quarter valued at approximately $34,000. Avalon Trust Co bought a new position in Highwoods Properties in the 3rd quarter valued at approximately $37,000. Finally, Geneos Wealth Management Inc. lifted its stake in Highwoods Properties by 292.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 1,252 shares during the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Company Profile

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.