Highwoods Properties (NYSE:HIW) Reaches New 52-Week High at $26.69

Highwoods Properties, Inc. (NYSE:HIW)’s share price hit a new 52-week high on Thursday . The stock traded as high as $26.69 and last traded at $26.60, with a volume of 370026 shares traded. The stock had previously closed at $25.89.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial upped their price objective on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a report on Tuesday, January 30th. They issued a “buy” rating and a $28.00 price objective on the stock. Robert W. Baird lifted their price target on Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley lifted their price target on Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.38.

Highwoods Properties Stock Up 2.9 %

The company has a debt-to-equity ratio of 1.37, a current ratio of 1.34 and a quick ratio of 1.34. The business has a 50 day moving average price of $24.84 and a 200 day moving average price of $22.49. The firm has a market capitalization of $2.82 billion, a P/E ratio of 21.62 and a beta of 1.23.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.51%. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Riverview Trust Co bought a new position in Highwoods Properties in the first quarter valued at about $34,000. International Assets Investment Management LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $31,000. Planned Solutions Inc. acquired a new position in shares of Highwoods Properties in the 4th quarter valued at $38,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Highwoods Properties in the 3rd quarter valued at about $44,000. Finally, GAMMA Investing LLC acquired a new stake in Highwoods Properties in the fourth quarter valued at approximately $53,000. Institutional investors own 96.31% of the company’s stock.

About Highwoods Properties

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.