Truist Financial Cuts Highwoods Properties (NYSE:HIW) Price Target to $23.00
by Danessa Lincoln · The Markets DailyHighwoods Properties (NYSE:HIW – Free Report) had its price objective cut by Truist Financial from $29.00 to $23.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the real estate investment trust’s stock.
HIW has been the subject of several other reports. Robert W. Baird set a $29.00 target price on Highwoods Properties in a report on Wednesday, February 25th. Mizuho dropped their price target on Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $27.00 price target on shares of Highwoods Properties in a research report on Thursday, February 19th. Wall Street Zen cut Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Sunday, March 15th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Highwoods Properties in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.78.
View Our Latest Stock Analysis on HIW
Highwoods Properties Trading Up 0.3%
NYSE HIW opened at $21.59 on Tuesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.41 and a quick ratio of 1.41. The firm’s fifty day moving average price is $24.33 and its 200 day moving average price is $27.30. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 14.79 and a beta of 1.07. Highwoods Properties has a 12 month low of $21.18 and a 12 month high of $32.76.
Highwoods Properties (NYSE:HIW – Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.58). Highwoods Properties had a net margin of 20.10% and a return on equity of 6.86%. The company had revenue of $203.36 million during the quarter, compared to analysts’ expectations of $208.08 million. During the same period last year, the firm earned $0.85 earnings per share. Highwoods Properties’s revenue was down .9% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.400-3.680 EPS. On average, sell-side analysts expect that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.
Highwoods Properties Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 9.3%. The ex-dividend date was Tuesday, February 17th. Highwoods Properties’s payout ratio is 136.99%.
Institutional Trading of Highwoods Properties
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Highwoods Properties in the 2nd quarter valued at approximately $43,203,000. Aew Capital Management L P raised its stake in shares of Highwoods Properties by 95.4% during the third quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock worth $74,604,000 after purchasing an additional 1,144,991 shares during the last quarter. GRS Advisors LLC lifted its holdings in shares of Highwoods Properties by 64.1% during the third quarter. GRS Advisors LLC now owns 2,046,809 shares of the real estate investment trust’s stock worth $65,129,000 after purchasing an additional 799,339 shares during the period. Bayhunt Capital LLC purchased a new position in Highwoods Properties in the 4th quarter valued at $13,125,000. Finally, Gotham Asset Management LLC grew its position in Highwoods Properties by 88.1% in the 3rd quarter. Gotham Asset Management LLC now owns 910,271 shares of the real estate investment trust’s stock valued at $28,965,000 after buying an additional 426,241 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.
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.