Highwoods Properties (NYSE:HIW) Price Target Raised to $30.00

Highwoods Properties (NYSE:HIW) had its price target upped by Mizuho from $25.00 to $30.00 in a report issued on Tuesday, Marketbeat.com reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

A number of other analysts also recently weighed in on HIW. Weiss Ratings raised shares of Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Monday, March 23rd. Truist Financial boosted their price target on shares of Highwoods Properties from $23.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $28.00 target price on shares of Highwoods Properties in a research report on Thursday, May 14th. Finally, Morgan Stanley upgraded shares of Highwoods Properties from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $23.00 in a report on Tuesday, March 31st. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Highwoods Properties Trading Up 1.0%

Shares of HIW stock opened at $32.83 on Tuesday. The firm has a market capitalization of $3.62 billion, a P/E ratio of 39.08 and a beta of 1.07. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.46. The stock’s fifty day simple moving average is $29.36 and its 200 day simple moving average is $25.84. Highwoods Properties has a twelve month low of $20.45 and a twelve month high of $33.88.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.13. Highwoods Properties had a return on equity of 3.97% and a net margin of 11.64%.The company had revenue of $214.03 million during the quarter, compared to the consensus estimate of $209.06 million. During the same quarter in the prior year, the firm posted $0.83 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. As a group, sell-side analysts predict that Highwoods Properties will post 3.53 EPS for the current fiscal year.

Highwoods Properties announced that its board has initiated a share repurchase program on Wednesday, April 22nd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 6.1%. Highwoods Properties’s dividend payout ratio is presently 238.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantinno Capital Management LP increased its position in Highwoods Properties by 133.8% in the first quarter. Quantinno Capital Management LP now owns 1,808,104 shares of the real estate investment trust’s stock worth $38,712,000 after buying an additional 1,034,694 shares during the last quarter. Norges Bank bought a new position in shares of Highwoods Properties during the 4th quarter worth $26,251,000. Bayhunt Capital LLC purchased a new stake in Highwoods Properties in the 4th quarter worth about $13,125,000. Vanguard Group Inc. increased its holdings in Highwoods Properties by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 16,903,497 shares of the real estate investment trust’s stock worth $436,448,000 after acquiring an additional 407,406 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Highwoods Properties by 3,696.3% in the 3rd quarter. Wellington Management Group LLP now owns 324,170 shares of the real estate investment trust’s stock worth $10,315,000 after acquiring an additional 315,631 shares during the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Company Profile

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.