Brokerages Set Highwoods Properties, Inc. (NYSE:HIW) Target Price at $30.75

Highwoods Properties, Inc. (NYSE:HIW) has been assigned an average rating of “Hold” from the eight research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $30.75.

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Tuesday, January 6th. Wolfe Research started coverage on shares of Highwoods Properties in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $38.00 price target for the company. Morgan Stanley increased their price objective on shares of Highwoods Properties from $23.00 to $24.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Highwoods Properties in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company dropped their target price on shares of Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 10th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Highwoods Properties during the 2nd quarter valued at $300,000. Teacher Retirement System of Texas boosted its stake in Highwoods Properties by 34.3% during the second quarter. Teacher Retirement System of Texas now owns 38,830 shares of the real estate investment trust’s stock worth $1,207,000 after buying an additional 9,910 shares during the period. Norges Bank bought a new position in Highwoods Properties during the second quarter valued at $43,203,000. Advisory Services Network LLC raised its stake in shares of Highwoods Properties by 38.4% in the second quarter. Advisory Services Network LLC now owns 123,169 shares of the real estate investment trust’s stock valued at $3,573,000 after acquiring an additional 34,165 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Highwoods Properties in the third quarter valued at $2,283,000. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Stock Down 0.4%

HIW opened at $26.80 on Monday. Highwoods Properties has a 1-year low of $24.18 and a 1-year high of $32.76. The firm’s 50 day simple moving average is $26.86 and its two-hundred day simple moving average is $29.21. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $2.94 billion, a PE ratio of 22.90 and a beta of 1.07.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 EPS for the quarter, hitting analysts’ consensus estimates of $0.86. The company had revenue of $201.77 million for the quarter, compared to analysts’ expectations of $205.74 million. Highwoods Properties had a return on equity of 5.48% and a net margin of 15.98%.Highwoods Properties’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. As a group, equities analysts forecast that Highwoods Properties will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, November 17th were given a dividend of $0.50 per share. The ex-dividend date was Monday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 7.5%. Highwoods Properties’s dividend payout ratio (DPR) is currently 170.94%.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.