Highwoods Properties (NYSE:HIW) Rating Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Highwoods Properties (NYSE:HIW) from a hold rating to a sell rating in a research report sent to investors on Saturday, ValuEngine reports.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Highwoods Properties from a sell rating to a hold rating in a report on Tuesday, May 21st. Robert W. Baird set a $49.00 price target on shares of Highwoods Properties and gave the stock a hold rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $49.00.

NYSE HIW opened at $45.02 on Friday. The company has a fifty day simple moving average of $43.84 and a two-hundred day simple moving average of $44.36. The stock has a market cap of $4.60 billion, a P/E ratio of 13.05, a P/E/G ratio of 3.42 and a beta of 0.82. Highwoods Properties has a 12-month low of $37.09 and a 12-month high of $48.63. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.99.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.47). The company had revenue of $184.10 million during the quarter, compared to analysts’ expectations of $180.20 million. Highwoods Properties had a return on equity of 6.13% and a net margin of 18.79%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. As a group, sell-side analysts forecast that Highwoods Properties will post 3.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Monday, August 12th were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.22%. Highwoods Properties’s dividend payout ratio is currently 55.07%.

Several hedge funds and other institutional investors have recently bought and sold shares of HIW. D L Carlson Investment Group Inc. purchased a new position in shares of Highwoods Properties during the second quarter worth $248,000. Royal Bank of Canada raised its holdings in shares of Highwoods Properties by 9.6% during the second quarter. Royal Bank of Canada now owns 116,259 shares of the real estate investment trust’s stock worth $4,802,000 after purchasing an additional 10,185 shares during the last quarter. Walleye Trading LLC purchased a new position in shares of Highwoods Properties during the second quarter worth $811,000. HM Payson & Co. purchased a new position in shares of Highwoods Properties during the second quarter worth $328,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Highwoods Properties by 35.7% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,536 shares of the real estate investment trust’s stock worth $105,000 after purchasing an additional 667 shares during the last quarter. 93.59% of the stock is owned by institutional investors and hedge funds.

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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