Highwoods Properties, Inc. (NYSE:HIW) Given Consensus Rating of “Hold” by Analysts
Highwoods Properties, Inc. (NYSE:HIW) has been given an average rating of “Hold” by the seven analysts that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $54.67.
A number of research firms recently weighed in on HIW. BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price objective on shares of Highwoods Properties in a report on Wednesday, April 19th. Finally, ValuEngine downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $52.51, for a total transaction of $525,100.00. Following the sale, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of HIW. Public Employees Retirement System of Ohio boosted its stake in shares of Highwoods Properties by 1.1% in the first quarter. Public Employees Retirement System of Ohio now owns 160,183 shares of the real estate investment trust’s stock worth $7,870,000 after buying an additional 1,770 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Highwoods Properties during the first quarter worth approximately $255,000. Credit Suisse AG boosted its stake in shares of Highwoods Properties by 9.3% in the first quarter. Credit Suisse AG now owns 446,755 shares of the real estate investment trust’s stock worth $21,950,000 after buying an additional 37,953 shares during the period. Geode Capital Management LLC boosted its stake in shares of Highwoods Properties by 12.9% in the first quarter. Geode Capital Management LLC now owns 950,512 shares of the real estate investment trust’s stock worth $46,698,000 after buying an additional 108,628 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in shares of Highwoods Properties by 260.5% in the first quarter. Rafferty Asset Management LLC now owns 17,367 shares of the real estate investment trust’s stock worth $853,000 after buying an additional 12,550 shares during the period. 98.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Highwoods Properties (NYSE:HIW) traded down 0.54% during trading on Friday, hitting $49.98. The stock had a trading volume of 379,540 shares. The stock’s 50-day moving average is $50.66 and its 200-day moving average is $50.76. The stock has a market capitalization of $5.16 billion, a P/E ratio of 39.86 and a beta of 0.88. Highwoods Properties has a 12-month low of $45.83 and a 12-month high of $54.25.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.59. The business had revenue of $177.28 million during the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. Highwoods Properties’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Analysts predict that Highwoods Properties will post $1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, August 10th. This represents a $1.76 dividend on an annualized basis and a yield of 3.52%. Highwoods Properties’s dividend payout ratio (DPR) is currently 141.94%.
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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