Highwoods Properties (NYSE:HIW) Price Target Raised to $30.00

Highwoods Properties (NYSE:HIW - Free Report) had its target price hoisted by Mizuho from $29.00 to $30.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the real estate investment trust's stock.

Several other brokerages also recently commented on HIW. Wells Fargo & Company lowered their price objective 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. Jefferies Financial Group started coverage on Highwoods Properties in a report on Monday, March 17th. They set a "buy" rating and a $32.00 price target for the company. Wall Street Zen upgraded Highwoods Properties from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Truist Financial lowered shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 target price for the company. in a research note on Wednesday, July 2nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $32.00.

Highwoods Properties Stock Down 2.9%

HIW stock traded down $0.91 during midday trading on Monday, reaching $30.21. 347,970 shares of the company's stock traded hands, compared to its average volume of 926,390. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.40. The firm's fifty day moving average price is $30.72 and its 200-day moving average price is $29.46. Highwoods Properties has a 52 week low of $24.19 and a 52 week high of $36.78. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 18.77 and a beta of 1.21.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Highwoods Properties had a net margin of 21.53% and a return on equity of 7.43%. The firm had revenue of $200.38 million during the quarter, compared to analysts' expectations of $201.31 million. During the same period last year, the company earned $0.89 earnings per share. The business's revenue was down 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.00 annualized dividend and a yield of 6.62%. Highwoods Properties's dividend payout ratio is currently 124.22%.

Institutional Investors Weigh In On Highwoods Properties

Several large investors have recently made changes to their positions in HIW. Voya Investment Management LLC grew its position in Highwoods Properties by 2.9% during the first quarter. Voya Investment Management LLC now owns 13,033 shares of the real estate investment trust's stock valued at $386,000 after buying an additional 367 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Highwoods Properties by 5.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust's stock valued at $248,000 after acquiring an additional 383 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its position in shares of Highwoods Properties by 2.6% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 15,397 shares of the real estate investment trust's stock valued at $456,000 after acquiring an additional 396 shares during the period. GAMMA Investing LLC grew its position in shares of Highwoods Properties by 10.3% during the 1st quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust's stock valued at $156,000 after acquiring an additional 493 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Highwoods Properties by 7.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,908 shares of the real estate investment trust's stock worth $205,000 after purchasing an additional 496 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

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.