Highwoods Properties (NYSE:HIW) Cut to Sell at Wall Street Zen

Key Points

• Highwoods Properties has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating.
• Several analysts have adjusted their ratings and price targets for the stock, with a consensus rating of "Hold" and an average price target of $32.00.
• Shares of Highwoods Properties recently opened at $29.30, down 1.2%, with the firm reporting earnings of $0.89 EPS, surpassing expectations but showing a revenue decline of 2% year-over-year.

Highwoods Properties (NYSE:HIW - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

HIW has been the subject of several other reports. Mizuho upped their price target on Highwoods Properties from $29.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company dropped their price target on Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, Truist Financial downgraded Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price target for the company. in a research note on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $32.00.

Highwoods Properties Stock Performance

Shares of NYSE:HIW traded down $0.20 during mid-day trading on Friday, reaching $29.29. 1,057,811 shares of the company traded hands, compared to its average volume of 1,279,748. The company's 50 day moving average price is $30.40 and its 200-day moving average price is $29.41. The firm has a market cap of $3.17 billion, a PE ratio of 24.61 and a beta of 1.21. 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 52 week low of $24.18 and a 52 week high of $36.78.

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

Institutional Trading of Highwoods Properties

Several hedge funds and other institutional investors have recently bought and sold shares of HIW. Massachusetts Financial Services Co. MA raised its holdings in Highwoods Properties by 87.4% during the 1st 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 buying an additional 2,852,877 shares during the period. Norges Bank purchased a new stake in Highwoods Properties during the 2nd quarter valued at $43,203,000. Janus Henderson Group PLC raised its holdings in Highwoods Properties by 512.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,274,443 shares of the real estate investment trust's stock valued at $38,961,000 after buying an additional 1,066,508 shares during the period. Northern Trust Corp raised its holdings in Highwoods Properties by 29.0% during the 4th quarter. Northern Trust Corp now owns 1,854,835 shares of the real estate investment trust's stock valued at $56,721,000 after buying an additional 416,791 shares during the period. Finally, Invesco Ltd. raised its holdings in Highwoods Properties by 15.1% during the 1st quarter. Invesco Ltd. now owns 2,959,480 shares of the real estate investment trust's stock valued at $87,719,000 after buying an additional 388,332 shares during the period. Hedge funds and other institutional investors own 96.31% of the company's stock.

Highwoods Properties Company Profile

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.