Shares of Highwoods Properties, Inc. (NYSE:HIW) have earned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $54.80.
A number of research analysts have issued reports on the stock. Bank of America Corp upped their target price on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Janney Montgomery Scott assumed coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They set a “neutral” rating on the stock. BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Finally, SunTrust Banks, Inc. set a $52.00 target price on shares of Highwoods Properties and gave the company a “hold” rating in a research report on Tuesday, October 24th.
Highwoods Properties (NYSE:HIW) traded up 0.14% during mid-day trading on Thursday, hitting $51.05. 765,552 shares of the company’s stock were exchanged. The stock has a market capitalization of $5.27 billion, a P/E ratio of 40.71 and a beta of 0.89. The firm has a 50 day moving average of $52.17 and a 200 day moving average of $51.29. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $53.34.
Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The company had revenue of $180.19 million for the quarter, compared to the consensus estimate of $177.15 million. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that Highwoods Properties will post $1.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.45%. Highwoods Properties’s dividend payout ratio (DPR) is presently 119.73%.
A number of hedge funds and other institutional investors have recently bought and sold shares of HIW. Envestnet Asset Management Inc. increased its stake in Highwoods Properties by 13.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $151,000 after purchasing an additional 369 shares in the last quarter. Wellington Management Group LLP increased its stake in Highwoods Properties by 293.4% during the 1st quarter. Wellington Management Group LLP now owns 360,449 shares of the real estate investment trust’s stock worth $17,710,000 after purchasing an additional 268,814 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Highwoods Properties by 1.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 11,417 shares of the real estate investment trust’s stock worth $561,000 after purchasing an additional 203 shares in the last quarter. Geode Capital Management LLC increased its stake in Highwoods Properties by 12.9% during the 1st quarter. Geode Capital Management LLC now owns 950,512 shares of the real estate investment trust’s stock worth $46,698,000 after purchasing an additional 108,628 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Highwoods Properties by 3.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,389,720 shares of the real estate investment trust’s stock worth $68,277,000 after purchasing an additional 43,766 shares in the last quarter. 97.77% of the stock is owned by institutional investors and hedge funds.
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Highwoods Properties Company Profile
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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