Edward Jones cut shares of Highwoods Properties, Inc. (NYSE:HIW) from a buy rating to a hold rating in a report issued on Monday, November 6th, Marketbeat reports.
Several other brokerages have also recently commented on HIW. SunTrust Banks, Inc. set a $52.00 target price on Highwoods Properties and gave the stock a hold rating in a report on Tuesday, October 24th. BidaskClub cut Highwoods Properties from a hold rating to a sell rating in a report on Wednesday, July 12th. Bank of America Corporation upped their price target on Highwoods Properties from $57.00 to $58.00 and gave the company a buy rating in a research note on Tuesday, October 3rd. Finally, Janney Montgomery Scott began coverage on Highwoods Properties in a research note on Friday, September 8th. They set a neutral rating on the stock. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $54.80.
Shares of Highwoods Properties (NYSE HIW) traded down $0.45 during midday trading on Monday, hitting $51.46. The company had a trading volume of 572,064 shares, compared to its average volume of 450,653. Highwoods Properties has a twelve month low of $47.06 and a twelve month high of $53.34. The firm has a market capitalization of $5,313.19, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 3.33 and a beta of 0.88. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.90.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.54. The firm had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.82 earnings per share. equities analysts anticipate that Highwoods Properties will post 3.38 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Monday, November 13th. Highwoods Properties’s dividend payout ratio is currently 119.73%.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Highwoods Properties by 1.2% during the second quarter. Vanguard Group Inc. now owns 16,280,366 shares of the real estate investment trust’s stock worth $825,578,000 after buying an additional 192,389 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Highwoods Properties by 16.8% during the third quarter. Bank of New York Mellon Corp now owns 4,888,598 shares of the real estate investment trust’s stock worth $254,647,000 after buying an additional 703,562 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Highwoods Properties by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 4,503,381 shares of the real estate investment trust’s stock worth $228,367,000 after buying an additional 230,723 shares in the last quarter. State Street Corp grew its holdings in shares of Highwoods Properties by 0.3% during the second quarter. State Street Corp now owns 4,340,884 shares of the real estate investment trust’s stock worth $220,127,000 after buying an additional 12,891 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Highwoods Properties by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 3,332,229 shares of the real estate investment trust’s stock worth $173,241,000 after buying an additional 53,973 shares in the last quarter. Institutional investors and hedge funds own 97.18% of the company’s stock.
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.
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