Highwoods Properties (NYSE:HIW) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Highwoods Properties shares moved above their 200-day moving average, trading as high as $29.70 and last changing hands around $29.43, signaling a near-term technical breakout.
• Analyst sentiment remains cautious: the stock has an average Hold rating with a consensus price target of $27.33, though several firms recently adjusted ratings and targets. Only two analysts currently rate it a Buy, while six rate it Hold.
• The REIT posted better-than-expected quarterly results, with EPS of $0.29 versus $0.16 expected and revenue of $214.03 million, plus a quarterly dividend of $0.50 per share yielding about 6.8%. The company also authorized a $250 million share buyback.

Shares of Highwoods Properties, Inc. (NYSE:HIW - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $24.92 and traded as high as $29.70. Highwoods Properties shares last traded at $29.4270, with a volume of 1,249,788 shares.

Wall Street Analyst Weigh In

Several equities analysts have commented on HIW shares. Wall Street Zen raised Highwoods Properties from a "sell" rating to a "hold" rating in a research report on Monday, March 23rd. Morgan Stanley upgraded Highwoods Properties from an "underweight" rating to an "equal weight" rating and decreased their target price for the stock from $24.00 to $23.00 in a research report on Tuesday, March 31st. Truist Financial lowered their target price on shares of Highwoods Properties from $29.00 to $23.00 and set a "hold" rating for the company in a research note on Tuesday, March 17th. Robert W. Baird set a $29.00 target price on shares of Highwoods Properties in a research note on Wednesday, February 25th. Finally, 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 report on Monday, June 1st. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $27.33.

Highwoods Properties Stock Up 0.5%

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a market cap of $3.24 billion, a PE ratio of 35.03 and a beta of 1.09. The business has a fifty day moving average of $26.05 and a 200-day moving average of $24.92.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.13. The company had revenue of $214.03 million for the quarter, compared to analysts' expectations of $209.06 million. Highwoods Properties had a return on equity of 3.97% and a net margin of 11.64%.Highwoods Properties's revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. Equities research analysts anticipate that Highwoods Properties, Inc. will post 3.53 earnings per share for the current year.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Monday, May 18th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.8%. Highwoods Properties's dividend payout ratio is presently 238.10%.

Highwoods Properties declared that its board has initiated a share repurchase program on Wednesday, April 22nd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Institutional Trading of Highwoods Properties

Institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in Highwoods Properties by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 1,639,419 shares of the real estate investment trust's stock valued at $35,139,000 after purchasing an additional 98,531 shares during the period. Amundi raised its holdings in shares of Highwoods Properties by 12.4% in the 1st quarter. Amundi now owns 83,582 shares of the real estate investment trust's stock valued at $1,789,000 after purchasing an additional 9,245 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Highwoods Properties by 27.8% in the 1st quarter. California State Teachers Retirement System now owns 131,276 shares of the real estate investment trust's stock worth $2,811,000 after purchasing an additional 28,522 shares during the period. Royal Bank of Canada lifted its position in shares of Highwoods Properties by 1.7% in the 1st quarter. Royal Bank of Canada now owns 150,747 shares of the real estate investment trust's stock worth $3,228,000 after purchasing an additional 2,548 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Highwoods Properties by 14.3% during the first quarter. The Manufacturers Life Insurance Company now owns 22,742 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 2,846 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Company Profile

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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