Zacks Investment Research upgraded shares of Highwoods Properties (NYSE:HIW) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “Shares of Highwoods have outperformed its industry in the past one month. Moreover, the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share remained stable in a months’ time. The company’s efforts to fortify its high-quality office asset portfolio in best business districts (BBDs) are expected to drive its long-term growth. Also, with the recovery in the job market, demand is likely to increase for office spaces. Nonetheless, significant exposure to office assets amid rising supply as well as persistent space efficiency trends and stiff competition remain concerns for the company. Additionally, Highwoods’ assets are concentrated in a few markets which make it vulnerable to the economic and political doldrums prevalent in the area.”
Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Highwoods Properties from a buy rating to a hold rating in a report on Friday, February 2nd. Stifel Nicolaus reiterated a hold rating and issued a $46.00 price objective (down previously from $50.00) on shares of Highwoods Properties in a report on Tuesday, March 13th. Finally, SunTrust Banks set a $51.00 price target on Highwoods Properties and gave the stock a hold rating in a report on Monday, January 22nd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $51.67.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.28). The company had revenue of $175.86 million during the quarter, compared to the consensus estimate of $177.14 million. Highwoods Properties had a net margin of 26.20% and a return on equity of 8.46%. equities research analysts predict that Highwoods Properties will post 3.42 EPS for the current year.
Several institutional investors have recently made changes to their positions in HIW. New York State Common Retirement Fund increased its holdings in shares of Highwoods Properties by 3.6% in the third quarter. New York State Common Retirement Fund now owns 227,700 shares of the real estate investment trust’s stock worth $11,861,000 after acquiring an additional 8,000 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Highwoods Properties by 102.8% in the third quarter. Wells Fargo & Company MN now owns 79,712 shares of the real estate investment trust’s stock worth $4,153,000 after acquiring an additional 40,403 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Highwoods Properties by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,480,027 shares of the real estate investment trust’s stock worth $77,094,000 after acquiring an additional 39,697 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Highwoods Properties by 3.6% in the third quarter. California Public Employees Retirement System now owns 178,590 shares of the real estate investment trust’s stock worth $9,303,000 after acquiring an additional 6,194 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Highwoods Properties by 1.7% in the third quarter. Public Employees Retirement System of Ohio now owns 162,667 shares of the real estate investment trust’s stock worth $8,473,000 after acquiring an additional 2,709 shares in the last quarter. Institutional investors own 96.54% of the company’s stock.
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About Highwoods Properties
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. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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