Highwoods Properties, Inc. (NYSE:HIW) Rating Lowered to Hold at Edward Jones

Edward Jones downgraded shares of Highwoods Properties, Inc. (NYSE:HIW) from a buy rating to a hold rating in a research note published on Monday, November 6th, Marketbeat Ratings reports.

A number of other research firms have also weighed in on HIW. SunTrust Banks, Inc. set a $52.00 target price on shares of Highwoods Properties and gave the company a hold rating in a report on Tuesday, October 24th. Bank of America Corporation raised their target price on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a buy rating in a report on Tuesday, October 3rd. Janney Montgomery Scott began coverage on shares of Highwoods Properties in a report on Friday, September 8th. They issued a neutral rating for the company. Finally, BidaskClub raised shares of Highwoods Properties from a sell rating to a hold rating in a report on Friday, August 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $54.80.

Shares of Highwoods Properties (NYSE:HIW) traded down $0.04 on Monday, reaching $51.17. 102,882 shares of the company’s stock were exchanged, compared to its average volume of 471,165. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.20 and a current ratio of 1.20. Highwoods Properties has a twelve month low of $47.06 and a twelve month high of $53.34. The stock has a market cap of $5,280.00, a price-to-earnings ratio of 15.15, a P/E/G ratio of 3.31 and a beta of 0.88.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The business had revenue of $180.19 million during the quarter, compared to analyst estimates of $177.15 million. During the same period last year, the firm posted $0.82 EPS. The company’s revenue was up 8.4% on a year-over-year basis. equities research analysts expect that Highwoods Properties will post 3.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a $0.44 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 3.44%. Highwoods Properties’s dividend payout ratio is presently 122.22%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Independent Portfolio Consultants Inc. lifted its position in shares of Highwoods Properties by 17.5% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 408 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Highwoods Properties by 4.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 124 shares during the last quarter. Ray Gerald L & Associates Ltd. bought a new stake in shares of Highwoods Properties during the second quarter worth $203,000. Tudor Investment Corp ET AL bought a new stake in shares of Highwoods Properties during the second quarter worth $207,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Highwoods Properties during the first quarter worth $255,000. Institutional investors own 97.99% of the company’s stock.

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Highwoods Properties Company Profile

Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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