Highwoods Properties Inc (HIW) Given Average Recommendation of “Buy” by Analysts
Highwoods Properties Inc (NYSE:HIW) has been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.20.
HIW has been the topic of several research analyst reports. DA Davidson set a $60.00 price objective on Highwoods Properties and gave the stock a “buy” rating in a report on Wednesday, April 25th. SunTrust Banks upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Friday, March 9th. They noted that the move was a valuation call. Stifel Nicolaus upgraded Highwoods Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $53.00 in a report on Friday, June 1st. ValuEngine upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th.
Shares of NYSE:HIW traded down $0.42 during trading on Friday, reaching $48.56. 10,551 shares of the company’s stock traded hands, compared to its average volume of 766,631. Highwoods Properties has a fifty-two week low of $41.34 and a fifty-two week high of $53.34. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $5.05 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 4.73 and a beta of 0.79.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Friday, May 18th were issued a $0.4625 dividend. This represents a $1.85 annualized dividend and a yield of 3.81%. The ex-dividend date was Thursday, May 17th. Highwoods Properties’s payout ratio is 56.40%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BB&T Securities LLC purchased a new position in Highwoods Properties in the 4th quarter worth approximately $200,000. Wealthstreet Investment Advisors LLC purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at approximately $204,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at approximately $225,000. Advisor Group Inc. raised its position in shares of Highwoods Properties by 470.8% during the 4th quarter. Advisor Group Inc. now owns 4,452 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 3,672 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at approximately $253,000. 92.35% of the stock is currently owned by institutional investors and hedge funds.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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