Highwoods Properties Inc (HIW) Receives $52.80 Consensus Target Price from Brokerages

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Highwoods Properties Inc (NYSE:HIW) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $52.80.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. SunTrust Banks set a $51.00 price target on shares of Highwoods Properties and gave the company a “buy” rating in a report on Monday, July 30th. Finally, Wood & Company restated a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th.

Shares of HIW traded down $0.34 during mid-day trading on Monday, reaching $43.89. The company had a trading volume of 554,010 shares, compared to its average volume of 739,823. The firm has a market cap of $4.60 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.12 and a beta of 0.76. Highwoods Properties has a fifty-two week low of $41.34 and a fifty-two week high of $52.58. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.94.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. The company had revenue of $179.42 million for the quarter, compared to analyst estimates of $173.78 million. Highwoods Properties had a net margin of 24.37% and a return on equity of 7.87%. Highwoods Properties’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. As a group, equities research analysts anticipate that Highwoods Properties will post 3.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Monday, November 12th will be issued a dividend of $0.4625 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.85 annualized dividend and a dividend yield of 4.22%. Highwoods Properties’s payout ratio is 56.40%.

Several large investors have recently bought and sold shares of HIW. Russell Investments Group Ltd. lifted its holdings in shares of Highwoods Properties by 46.7% during the 1st quarter. Russell Investments Group Ltd. now owns 29,682 shares of the real estate investment trust’s stock valued at $1,301,000 after acquiring an additional 9,444 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Highwoods Properties by 31.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 14,623 shares of the real estate investment trust’s stock valued at $742,000 after acquiring an additional 3,500 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Highwoods Properties during the 2nd quarter valued at $43,133,000. Fox Run Management L.L.C. acquired a new position in shares of Highwoods Properties during the 2nd quarter valued at $538,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Highwoods Properties during the 2nd quarter valued at $2,739,000. Institutional investors and hedge funds own 92.04% of the company’s stock.

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 fullyintegrated 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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Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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