Highwoods Properties, Inc. (NYSE:HIW) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday, May 11th.
Several other equities research analysts have also commented on the stock. Wood & Company reaffirmed a “buy” rating and set a $62.00 price target on shares of Highwoods Properties in a research report on Tuesday, January 24th. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 7th. Jefferies Group LLC reaffirmed a “hold” rating and set a $47.00 price target on shares of Highwoods Properties in a research report on Wednesday, February 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $55.00 target price on shares of Highwoods Properties in a report on Wednesday, April 19th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.29.
Highwoods Properties (NYSE:HIW) opened at 52.22 on Thursday. The stock has a 50 day moving average of $50.80 and a 200 day moving average of $50.64. Highwoods Properties has a 1-year low of $45.83 and a 1-year high of $56.23. The stock has a market cap of $5.33 billion, a P/E ratio of 43.19 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.02. Highwoods Properties had a net margin of 18.29% and a return on equity of 5.80%. The firm had revenue of $169.41 million during the quarter, compared to analyst estimates of $167.20 million. During the same quarter in the prior year, the firm earned $0.82 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities analysts anticipate that Highwoods Properties will post $1.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Wednesday, May 17th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend was Monday, May 15th. Highwoods Properties’s dividend payout ratio is 146.67%.
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In related news, COO Theodore J. Klinck sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $52.51, for a total value of $525,100.00. Following the completion of the sale, the chief operating officer now directly owns 63,194 shares of the company’s stock, valued at approximately $3,318,316.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HIW. Security Capital Research & Management Inc. raised its stake in shares of Highwoods Properties by 4.8% in the third quarter. Security Capital Research & Management Inc. now owns 2,175 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 100 shares during the period. Anchor Capital Advisors LLC raised its stake in shares of Highwoods Properties by 1.4% in the first quarter. Anchor Capital Advisors LLC now owns 7,240 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Highwoods Properties by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,417 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 203 shares during the period. World Asset Management Inc raised its stake in shares of Highwoods Properties by 3.6% in the first quarter. World Asset Management Inc now owns 6,233 shares of the real estate investment trust’s stock worth $306,000 after buying an additional 217 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC raised its stake in shares of Highwoods Properties by 1.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 17,521 shares of the real estate investment trust’s stock worth $861,000 after buying an additional 250 shares during the period.
About Highwoods Properties
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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