Highwoods Properties, Inc. (HIW) PT Raised to $58.00
Highwoods Properties, Inc. (NYSE:HIW) had its target price upped by analysts at Bank of America Corporation from $57.00 to $58.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Bank of America Corporation’s price target would suggest a potential upside of 9.81% from the stock’s previous close.
Several other research firms also recently weighed in on HIW. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Janney Montgomery Scott assumed coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $55.50.
Highwoods Properties (NYSE:HIW) opened at 52.82 on Tuesday. The company’s 50 day moving average is $51.82 and its 200 day moving average is $50.99. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $53.26. The stock has a market cap of $5.45 billion, a P/E ratio of 42.12 and a beta of 0.89.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.59. The business had revenue of $177.28 million for the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Equities analysts predict that Highwoods Properties will post $1.26 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in HIW. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Highwoods Properties by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,889 shares of the real estate investment trust’s stock worth $755,000 after purchasing an additional 38 shares during the period. Anchor Capital Advisors LLC boosted its holdings in shares of Highwoods Properties by 1.4% during the first quarter. Anchor Capital Advisors LLC now owns 7,240 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 100 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings 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 period. GAM Holding AG boosted its holdings in shares of Highwoods Properties by 2.4% during the second quarter. GAM Holding AG now owns 8,660 shares of the real estate investment trust’s stock worth $439,000 after purchasing an additional 199 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of Highwoods Properties by 3.2% during the second quarter. World Asset Management Inc now owns 6,433 shares of the real estate investment trust’s stock worth $326,000 after purchasing an additional 200 shares during the period. 98.12% of the stock is currently owned by institutional investors and hedge funds.
About Highwoods Properties
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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