ValuEngine Upgrades Highwoods Properties (HIW) to “Hold”

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ValuEngine upgraded shares of Highwoods Properties (NYSE:HIW) from a sell rating to a hold rating in a report released on Thursday morning.

HIW has been the subject of a number of other research reports. Janney Montgomery Scott raised Highwoods Properties from a neutral rating to a buy rating in a report on Thursday, December 20th. Zacks Investment Research lowered Highwoods Properties from a hold rating to a sell rating in a research note on Wednesday, September 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $53.00.

NYSE HIW opened at $42.15 on Thursday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. Highwoods Properties has a twelve month low of $37.09 and a twelve month high of $52.00. 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 released its quarterly earnings results on Tuesday, October 23rd. The real estate investment trust reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $179.42 million during the quarter, compared to analysts’ expectations of $173.78 million. Highwoods Properties had a return on equity of 7.87% and a net margin of 24.37%. Highwoods Properties’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. As a group, equities research analysts expect that Highwoods Properties will post 3.44 EPS for the current year.

In other news, Director Carlos E. Evans purchased 10,000 shares of the firm’s stock in a transaction on Thursday, December 27th. The shares were bought at an average cost of $38.31 per share, for a total transaction of $383,100.00. Following the completion of the purchase, the director now directly owns 21,247 shares of the company’s stock, valued at $813,972.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Martingale Asset Management L P lifted its stake in Highwoods Properties by 16.9% during the third quarter. Martingale Asset Management L P now owns 404,116 shares of the real estate investment trust’s stock worth $19,099,000 after purchasing an additional 58,300 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Highwoods Properties by 32.1% during the third quarter. Tower Research Capital LLC TRC now owns 13,223 shares of the real estate investment trust’s stock worth $625,000 after purchasing an additional 3,216 shares in the last quarter. Pensionfund DSM Netherlands lifted its stake in Highwoods Properties by 29.2% during the fourth quarter. Pensionfund DSM Netherlands now owns 39,802 shares of the real estate investment trust’s stock worth $1,540,000 after purchasing an additional 9,000 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Highwoods Properties during the second quarter worth $335,000. Finally, Commonwealth Bank of Australia acquired a new position in Highwoods Properties during the third quarter worth $302,000. Institutional investors own 91.75% 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 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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