Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
Highwoods Properties Trading Down 1.1 %
Shares of Highwoods Properties stock traded down $0.40 during trading hours on Monday, hitting $35.06. The company's stock had a trading volume of 687,629 shares, compared to its average volume of 780,077. Highwoods Properties has a 12 month low of $32.62 and a 12 month high of $47.66. The stock has a 50 day moving average of $34.57 and a 200 day moving average of $39.71. The company has a market capitalization of $3.69 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.35 and a quick ratio of 1.35.
Highwoods Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 22nd will be issued a $0.50 dividend. The ex-dividend date is Friday, August 19th. This represents a $2.00 annualized dividend and a dividend yield of 5.70%. Highwoods Properties's dividend payout ratio (DPR) is currently 73.26%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on HIW. Wells Fargo & Company cut their price target on Highwoods Properties from $55.00 to $40.00 and set an "overweight" rating on the stock in a research note on Friday, July 1st. Jefferies Financial Group lowered Highwoods Properties from a "buy" rating to a "hold" rating and cut their price target for the company from $46.00 to $35.00 in a research note on Thursday, June 30th. TheStreet lowered Highwoods Properties from a "b-" rating to a "c+" rating in a research note on Friday, June 17th. Truist Financial cut their price target on Highwoods Properties from $48.00 to $42.00 and set a "buy" rating on the stock in a research note on Thursday, June 30th. Finally, Morgan Stanley dropped their price objective on Highwoods Properties from $48.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $39.57.