Highwoods Properties (NYSE:HIW) Downgraded by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties (NYSE:HIW) from a buy rating to a hold rating in a report released on Tuesday morning, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $35.00 price target on the real estate investment trust’s stock, up from their previous price target of $31.00.

Several other analysts have also recently commented on the stock. Wells Fargo & Company increased their price target on shares of Highwoods Properties from $22.00 to $32.00 and gave the company an equal weight rating in a research note on Wednesday, September 11th. Robert W. Baird increased their price target on shares of Highwoods Properties from $27.00 to $30.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a buy rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $27.86.

Highwoods Properties Stock Performance

NYSE HIW opened at $32.94 on Tuesday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 27.00 and a beta of 1.26. The company has a 50 day moving average of $31.76 and a 200-day moving average of $27.99. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $33.96.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.31). Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The company had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. During the same period last year, the company earned $0.94 earnings per share. Highwoods Properties’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts forecast that Highwoods Properties will post 3.59 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.07%. Highwoods Properties’s payout ratio is presently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PGGM Investments boosted its stake in Highwoods Properties by 77.9% in the second quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after acquiring an additional 1,589,730 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Highwoods Properties by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,531,611 shares of the real estate investment trust’s stock worth $40,233,000 after purchasing an additional 36,285 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Highwoods Properties by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock worth $32,251,000 after purchasing an additional 56,399 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Highwoods Properties by 86.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,172,929 shares of the real estate investment trust’s stock worth $30,813,000 after purchasing an additional 545,066 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Highwoods Properties by 11.0% during the first quarter. Sei Investments Co. now owns 957,610 shares of the real estate investment trust’s stock worth $25,070,000 after purchasing an additional 94,804 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

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.