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.
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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