Truist Financial Boosts Highwoods Properties (NYSE:HIW) Price Target to $33.00

Key Points

• Truist Financial raised the price target for Highwoods Properties from $32.00 to $33.00, indicating a potential upside of 5.65% from its current share price.
• The company has a consensus rating of "Hold" from analysts, with one analyst rating it as a "Buy" and five as "Hold."
• Highwoods Properties' financial performance showed $0.89 earnings per share for the last quarter, surpassing expectations, but revenue decreased by 2.0% compared to the previous year.

Highwoods Properties (NYSE:HIW - Get Free Report) had its price target lifted by research analysts at Truist Financial from $32.00 to $33.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the real estate investment trust's stock. Truist Financial's price target would suggest a potential upside of 3.73% from the stock's current price.

A number of other equities research analysts have also commented on HIW. Wells Fargo & Company lowered their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Mizuho increased their price target on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wall Street Zen lowered Highwoods Properties from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $32.17.

Highwoods Properties Stock Up 1.7%

Shares of NYSE:HIW traded up $0.52 during trading on Wednesday, reaching $31.81. 1,028,170 shares of the stock were exchanged, compared to its average volume of 1,053,829. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.38 and a quick ratio of 1.38. Highwoods Properties has a 1-year low of $24.18 and a 1-year high of $36.78. The stock has a fifty day moving average of $30.24 and a two-hundred day moving average of $29.56. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 26.73 and a beta of 1.27.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The company had revenue of $200.60 million for the quarter, compared to analyst estimates of $203.22 million. During the same period in the prior year, the firm earned $0.98 earnings per share. Highwoods Properties's revenue for the quarter was down 2.0% on a year-over-year basis. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. Research analysts anticipate that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in shares of Highwoods Properties by 1.3% during the 2nd quarter. State Street Corp now owns 6,564,027 shares of the real estate investment trust's stock valued at $204,076,000 after buying an additional 86,506 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Highwoods Properties by 87.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,118,701 shares of the real estate investment trust's stock valued at $181,358,000 after purchasing an additional 2,852,877 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Highwoods Properties by 0.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,660,872 shares of the real estate investment trust's stock valued at $108,509,000 after purchasing an additional 10,331 shares in the last quarter. Invesco Ltd. grew its position in shares of Highwoods Properties by 15.1% in the first quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock valued at $87,719,000 after purchasing an additional 388,332 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in shares of Highwoods Properties by 0.4% in the second quarter. Daiwa Securities Group Inc. now owns 2,190,938 shares of the real estate investment trust's stock valued at $68,116,000 after purchasing an additional 8,525 shares in the last quarter. Hedge funds and other institutional investors own 96.31% of the company's stock.

About Highwoods Properties

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded NYSE: HIW, fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.