Highwoods Properties (NYSE:HIW) Rating Lowered to Sell at Wall Street Zen

Highwoods Properties (NYSE:HIW) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research analysts also recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, May 19th. Mizuho raised their price target on shares of Highwoods Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Finally, Truist Financial downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Highwoods Properties has an average rating of “Hold” and an average target price of $32.00.

Highwoods Properties Price Performance

Highwoods Properties stock opened at $29.30 on Friday. The firm has a 50-day moving average price of $30.53 and a 200-day moving average price of $29.42. The firm has a market capitalization of $3.17 billion, a PE ratio of 24.62 and a beta of 1.21. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.42. Highwoods Properties has a 12-month low of $24.18 and a 12-month high of $36.78.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. The firm had revenue of $200.60 million during the quarter, compared to analyst estimates of $203.22 million. Highwoods Properties had a net margin of 16.15% and a return on equity of 5.57%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.98 EPS. As a group, equities research analysts forecast that Highwoods Properties will post 3.36 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. POM Investment Strategies LLC purchased a new position in Highwoods Properties during the 1st quarter valued at about $28,000. Avalon Trust Co bought a new stake in shares of Highwoods Properties in the 1st quarter valued at about $35,000. Geneos Wealth Management Inc. boosted its holdings in shares of Highwoods Properties by 292.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,252 shares in the last quarter. MAI Capital Management boosted its holdings in shares of Highwoods Properties by 67.3% in the 2nd quarter. MAI Capital Management now owns 1,803 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 725 shares in the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in shares of Highwoods Properties in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Highwoods Properties Company Profile

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.