Highwoods Properties (NYSE:HIW) Share Price Crosses Above 50-Day Moving Average - Should You Sell?

Key Points

• Highwoods Properties shares crossed above their 50-day moving average, reaching $30.50 and last trading near $30.41, compared with a 50-day average of $30.18.
• Analysts remain cautious: all nine analysts rate the stock “Hold,” with an average price target of $32.00.
• The REIT reported quarterly EPS of $0.29, exceeding estimates, while revenue rose 8.1% year over year. It also declared a $0.50 quarterly dividend, equivalent to a 6.6% annualized yield, though its payout ratio is high at 131.58%.

Highwoods Properties, Inc. (NYSE:HIW - Get Free Report)'s stock price passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $30.18 and traded as high as $30.50. Highwoods Properties shares last traded at $30.4070, with a volume of 1,400,962 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on HIW. Weiss Ratings raised Highwoods Properties from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a "buy" rating to a "hold" rating and set a $33.00 price objective for the company. in a research report on Wednesday, August 5th. Citigroup increased their price objective on Highwoods Properties from $24.00 to $34.00 and gave the company a "neutral" rating in a report on Tuesday, August 4th. Huntington Sec assumed coverage on Highwoods Properties in a research report on Wednesday. They set a "hold" rating on the stock. Finally, Mizuho set a $32.00 target price on Highwoods Properties in a research report on Tuesday, September 8th. Nine equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $32.00.

Highwoods Properties Stock Performance

The company has a quick ratio of 1.68, a current ratio of 2.08 and a debt-to-equity ratio of 1.38. The company has a market cap of $3.35 billion, a PE ratio of 17.99 and a beta of 1.06. The firm has a fifty day simple moving average of $30.18 and a 200-day simple moving average of $27.50.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.08. The firm had revenue of $218.18 million during the quarter, compared to analysts' expectations of $216.39 million. Highwoods Properties had a return on equity of 7.68% and a net margin of 22.56%. The business's revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. On average, research analysts forecast that Highwoods Properties, Inc. will post 3.58 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Monday, November 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend is Monday, November 16th. Highwoods Properties's dividend payout ratio is presently 131.58%.

Hedge Funds Weigh In On Highwoods Properties

A number of institutional investors have recently modified their holdings of HIW. BlackRock Inc. acquired a new position in Highwoods Properties in the 2nd quarter valued at about $633,717,000. CORDA Investment Management LLC. raised its stake in Highwoods Properties by 0.3% during the 2nd quarter. CORDA Investment Management LLC. now owns 1,284,718 shares of the real estate investment trust's stock valued at $38,747,000 after acquiring an additional 3,370 shares during the last quarter. Quantinno Capital Management LP raised its stake in Highwoods Properties by 133.8% during the 1st quarter. Quantinno Capital Management LP now owns 1,808,104 shares of the real estate investment trust's stock valued at $38,712,000 after acquiring an additional 1,034,694 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Highwoods Properties during the 2nd quarter worth approximately $38,595,000. Finally, Bank of America Corp DE acquired a new stake in Highwoods Properties during the 2nd quarter worth approximately $36,285,000. 96.31% of the stock is owned by institutional investors and hedge funds.

Highwoods Properties Company Profile

Highwoods Properties, Inc NYSE: HIW is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.

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