Highwoods Properties, Inc. (NYSE:HIW) Receives $27.33 Consensus Target Price from Brokerages

Shares of Highwoods Properties, Inc. (NYSE:HIW) have earned an average recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $27.3333.

Several equities analysts have recently commented on HIW shares. Mizuho lowered their price objective on Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Morgan Stanley upgraded Highwoods Properties from an “underweight” rating to an “equal weight” rating and lowered their price objective for the company from $24.00 to $23.00 in a research report on Tuesday, March 31st. Wells Fargo & Company boosted their price objective on Highwoods Properties from $24.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, June 1st. Robert W. Baird set a $29.00 price objective on Highwoods Properties in a research report on Wednesday, February 25th. Finally, Truist Financial decreased their target price on Highwoods Properties from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, March 17th.

Highwoods Properties Price Performance

Shares of Highwoods Properties stock opened at $28.62 on Thursday. The stock’s 50-day simple moving average is $25.60 and its 200-day simple moving average is $24.89. Highwoods Properties has a 52 week low of $20.45 and a 52 week high of $32.76. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 34.07 and a beta of 1.09. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.46.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.16 by $0.13. Highwoods Properties had a return on equity of 3.97% and a net margin of 11.64%.The business had revenue of $214.03 million for the quarter, compared to the consensus estimate of $209.06 million. During the same period in the previous year, the business earned $0.83 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. As a group, analysts expect that Highwoods Properties will post 3.53 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Monday, May 18th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date was Monday, May 18th. Highwoods Properties’s payout ratio is currently 238.10%.

Highwoods Properties announced that its board has approved a share repurchase program on Wednesday, April 22nd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Highwoods Properties

A number of hedge funds have recently made changes to their positions in HIW. Caitong International Asset Management Co. Ltd lifted its position in shares of Highwoods Properties by 88.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 372 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Highwoods Properties by 921.4% in the third quarter. Bell Investment Advisors Inc now owns 858 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 774 shares in the last quarter. Beacon Financial Strategies CORP purchased a new stake in shares of Highwoods Properties in the fourth quarter worth about $34,000. Avalon Trust Co purchased a new stake in shares of Highwoods Properties in the third quarter worth about $37,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Highwoods Properties by 292.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,252 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

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.