Truist Financial Cuts Highwoods Properties (NYSE:HIW) Price Target to $32.00

Highwoods Properties (NYSE:HIW) had its target price reduced by Truist Financial from $33.00 to $32.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the stock. Mizuho raised their price objective on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Jefferies Financial Group decreased their price target on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Robert W. Baird lifted their target price on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.71.

Highwoods Properties Trading Down 0.1 %

NYSE:HIW opened at $29.23 on Thursday. Highwoods Properties has a one year low of $22.60 and a one year high of $36.78. The business’s 50-day simple moving average is $29.86 and its 200 day simple moving average is $31.62. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 21.82 and a beta of 1.24.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. As a group, sell-side analysts predict that Highwoods Properties will post 3.61 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.84%. Highwoods Properties’s dividend payout ratio is currently 149.25%.

Institutional Investors Weigh In On Highwoods Properties

Several large investors have recently added to or reduced their stakes in HIW. Jones Financial Companies Lllp grew its position in shares of Highwoods Properties by 375.0% during the fourth quarter. Jones Financial Companies Lllp now owns 855 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 675 shares during the last quarter. Quarry LP bought a new position in Highwoods Properties in the 3rd quarter worth about $48,000. Smartleaf Asset Management LLC increased its stake in shares of Highwoods Properties by 124.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,434 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 1,351 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Highwoods Properties by 363.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,972 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 2,331 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Highwoods Properties by 12.0% during the fourth quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 327 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

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.