Highwoods Properties (NYSE:HIW) Stock Price Expected to Rise, Truist Financial Analyst Says

Highwoods Properties (NYSE:HIW) had its price objective raised by Truist Financial from $32.00 to $33.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a hold rating on the real estate investment trust’s stock.

Other equities analysts have also issued reports about the company. Wells Fargo & Company dropped their price target on 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. Wall Street Zen lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Mizuho raised their target price on Highwoods Properties from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.17.

Highwoods Properties Stock Performance

Shares of HIW stock opened at $31.81 on Wednesday. The business’s 50 day simple moving average is $30.24 and its 200 day simple moving average is $29.55. Highwoods Properties has a one year low of $24.18 and a one year high of $36.78. The stock has a market capitalization of $3.44 billion, a PE ratio of 26.73 and a beta of 1.27. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.38 and a quick ratio of 1.38.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%.The firm had revenue of $200.60 million for the quarter, compared to analyst estimates of $203.22 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. Highwoods Properties has set its FY 2025 guidance at 3.370-3.450 EPS. As a group, research analysts forecast that Highwoods Properties will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, August 18th. Highwoods Properties’s dividend payout ratio is presently 168.07%.

Hedge Funds Weigh In On Highwoods Properties

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of Highwoods Properties by 4.0% during the second quarter. Osaic Holdings Inc. now owns 45,871 shares of the real estate investment trust’s stock worth $1,424,000 after purchasing an additional 1,749 shares during the period. Advisory Services Network LLC raised its position in shares of Highwoods Properties by 38.4% during the second quarter. Advisory Services Network LLC now owns 123,169 shares of the real estate investment trust’s stock worth $3,573,000 after purchasing an additional 34,165 shares during the period. State of Wyoming acquired a new position in shares of Highwoods Properties during the second quarter worth approximately $180,000. Kestra Investment Management LLC raised its position in Highwoods Properties by 14.6% in the 2nd quarter. Kestra Investment Management LLC now owns 24,887 shares of the real estate investment trust’s stock valued at $774,000 after buying an additional 3,173 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in Highwoods Properties by 6.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 415,772 shares of the real estate investment trust’s stock valued at $12,926,000 after buying an additional 25,848 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, 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.