Highwoods Properties, Inc. (NYSE:HIW) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• Highwoods Properties has a consensus analyst rating of “Hold”, with six hold ratings and two buy ratings from eight covering firms. The average 1-year price target is about $28.11.
• The REIT recently reported better-than-expected quarterly results, posting EPS of $0.29 versus estimates of $0.16 and revenue of $214.03 million, up 6.8% year over year. Analysts currently expect full-year EPS of 3.53.
• Highwoods also pays a $0.50 quarterly dividend for a 6.3% annualized yield and has authorized a $250 million share buyback, signaling management’s confidence in the stock.

Highwoods Properties, Inc. (NYSE:HIW - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight ratings firms that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $28.1111.

HIW has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $24.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Monday, June 1st. Morgan Stanley raised Highwoods Properties from an "underweight" rating to an "equal weight" rating and reduced their price objective for the company from $24.00 to $23.00 in a research report on Tuesday, March 31st. Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Monday, March 23rd. Truist Financial upped their target price on Highwoods Properties from $23.00 to $30.00 and gave the stock a "hold" rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised Highwoods Properties from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, June 9th.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $31.78 on Monday. The firm's 50 day simple moving average is $27.31 and its 200-day simple moving average is $25.19. The company has a market cap of $3.50 billion, a P/E ratio of 37.83 and a beta of 1.07. Highwoods Properties has a fifty-two week low of $20.45 and a fifty-two week high of $32.76. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.50 and a quick ratio of 1.50.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.13. Highwoods Properties had a net margin of 11.64% and a return on equity of 3.97%. The firm 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 firm posted $0.83 earnings per share. The firm'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, equities research analysts predict that Highwoods Properties will post 3.53 EPS for the current year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Monday, May 18th were issued a $0.50 dividend. The ex-dividend date was Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.3%. Highwoods Properties's dividend payout ratio is currently 238.10%.

Highwoods Properties declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 22nd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy up to 9.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Trading of Highwoods Properties

A number of institutional investors have recently added to or reduced their stakes in HIW. JPMorgan Chase & Co. boosted its holdings in Highwoods Properties by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 772,326 shares of the real estate investment trust's stock worth $24,575,000 after purchasing an additional 61,443 shares in the last quarter. Pacific Heights Asset Management LLC raised its holdings in Highwoods Properties by 40.0% during the fourth quarter. Pacific Heights Asset Management LLC now owns 350,000 shares of the real estate investment trust's stock valued at $9,037,000 after buying an additional 100,000 shares in the last quarter. LSV Asset Management lifted its position in shares of Highwoods Properties by 6.4% in the fourth quarter. LSV Asset Management now owns 1,187,100 shares of the real estate investment trust's stock worth $30,651,000 after buying an additional 71,500 shares during the last quarter. Bayhunt Capital LLC acquired a new stake in shares of Highwoods Properties in the fourth quarter worth about $13,125,000. Finally, Aew Capital Management L P boosted its stake in shares of Highwoods Properties by 3.8% during the 4th quarter. Aew Capital Management L P now owns 2,433,243 shares of the real estate investment trust's stock worth $62,826,000 after acquiring an additional 88,672 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

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.

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