Highwoods Properties, Inc. (HIW) Receives $54.67 Consensus Price Target from Analysts
Highwoods Properties, Inc. (NYSE:HIW) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have given 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 $55.50.
Several research analysts recently weighed in on HIW shares. Janney Montgomery Scott started coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They set a “neutral” rating on the stock. BidaskClub lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation lifted their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday.
A number of institutional investors and hedge funds have recently made changes to their positions in HIW. Russell Investments Group Ltd. lifted its stake in Highwoods Properties by 42.6% in the first quarter. Russell Investments Group Ltd. now owns 67,797 shares of the real estate investment trust’s stock valued at $3,331,000 after buying an additional 20,265 shares in the last quarter. World Asset Management Inc lifted its stake in Highwoods Properties by 3.6% in the first quarter. World Asset Management Inc now owns 6,233 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 217 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Highwoods Properties by 21.2% in the first quarter. UBS Asset Management Americas Inc. now owns 204,080 shares of the real estate investment trust’s stock valued at $10,026,000 after buying an additional 35,695 shares in the last quarter. Karp Capital Management Corp bought a new position in Highwoods Properties in the first quarter valued at approximately $1,229,000. Finally, Envestnet Asset Management Inc. lifted its stake in Highwoods Properties by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 369 shares in the last quarter. 98.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Highwoods Properties (NYSE:HIW) traded down 0.13% during midday trading on Friday, hitting $52.75. 582,301 shares of the company traded hands. The stock has a market capitalization of $5.45 billion, a P/E ratio of 42.07 and a beta of 0.89. Highwoods Properties has a 12-month low of $45.83 and a 12-month high of $53.34. The stock’s 50-day moving average is $51.90 and its 200 day moving average is $51.03.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data 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. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. During the same quarter last year, the firm earned $0.32 EPS. Highwoods Properties’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts expect that Highwoods Properties will post $1.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, August 10th. Highwoods Properties’s payout ratio is currently 141.94%.
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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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