Brokerages Set Highwoods Properties, Inc. (NYSE:HIW) Target Price at $30.75

Shares of Highwoods Properties, Inc. (NYSE:HIW) have received an average recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $30.75.

Several equities research analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Highwoods Properties in a research note on Wednesday, October 8th. They set an “outperform” rating and a $38.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Highwoods Properties in a research report on Wednesday, October 8th. New Street Research set a $30.00 price objective on shares of Highwoods Properties in a report on Monday, October 13th. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday, January 6th.

Institutional Investors Weigh In On Highwoods Properties

Hedge funds have recently modified their holdings of the company. Aberdeen Group plc grew its holdings in shares of Highwoods Properties by 6.8% during the 4th quarter. Aberdeen Group plc now owns 40,666 shares of the real estate investment trust’s stock worth $1,050,000 after purchasing an additional 2,580 shares during the period. Beacon Financial Strategies CORP purchased a new position in shares of Highwoods Properties in the 4th quarter valued at about $34,000. Pensionfund Sabic purchased a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $250,000. Pensionfund PDN acquired a new position in Highwoods Properties in the fourth quarter valued at $511,000. Finally, Congress Asset Management Co. grew its stake in Highwoods Properties by 2.6% during the 4th quarter. Congress Asset Management Co. now owns 131,885 shares of the real estate investment trust’s stock worth $3,405,000 after buying an additional 3,390 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Trading Up 1.2%

Shares of Highwoods Properties stock opened at $27.52 on Monday. The firm has a market capitalization of $3.02 billion, a PE ratio of 23.52 and a beta of 1.07. Highwoods Properties has a twelve month low of $24.18 and a twelve month high of $32.76. The firm’s 50-day moving average price is $26.79 and its 200 day moving average price is $29.15. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.44.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. The company had revenue of $201.77 million during the quarter, compared to analyst estimates of $205.74 million. Highwoods Properties had a return on equity of 5.48% and a net margin of 15.98%.Highwoods Properties’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. Highwoods Properties has set its FY 2025 guidance at 3.410-3.45 EPS. On average, sell-side analysts predict that Highwoods Properties will post 3.36 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, November 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.3%. Highwoods Properties’s dividend payout ratio (DPR) is 170.94%.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.