Highwoods Properties (NYSE:HIW) Price Target Raised to $29.00 at Mizuho

Highwoods Properties (NYSE:HIW) had its price target raised by analysts at Mizuho from $24.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s target price indicates a potential downside of 3.04% from the stock’s previous close.

HIW has been the subject of a number of other reports. Wells Fargo & Company lifted their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $35.00 in a research note on Tuesday, October 1st. Robert W. Baird upped their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lowered their price objective on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Highwoods Properties presently has an average rating of “Hold” and a consensus price target of $30.86.

Highwoods Properties Trading Down 2.8 %

Shares of Highwoods Properties stock opened at $29.91 on Tuesday. The firm has a market capitalization of $3.17 billion, a PE ratio of 22.32 and a beta of 1.24. The company’s fifty day moving average price is $31.66 and its two-hundred day moving average price is $31.28. Highwoods Properties has a 52-week low of $21.37 and a 52-week high of $36.78. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, analysts expect that Highwoods Properties will post 3.62 EPS for the current year.

Institutional Trading of Highwoods Properties

Hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in Highwoods Properties by 1.7% during the third quarter. State Street Corp now owns 7,289,806 shares of the real estate investment trust’s stock valued at $244,281,000 after purchasing an additional 124,646 shares during the period. Franklin Resources Inc. boosted its position in shares of Highwoods Properties by 40.9% during the third quarter. Franklin Resources Inc. now owns 3,130,452 shares of the real estate investment trust’s stock worth $107,155,000 after purchasing an additional 908,401 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Highwoods Properties by 131.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,708,996 shares of the real estate investment trust’s stock valued at $90,778,000 after buying an additional 1,536,067 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Highwoods Properties by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,061,572 shares of the real estate investment trust’s stock valued at $69,083,000 after buying an additional 34,885 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Highwoods Properties by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock valued at $63,754,000 after buying an additional 12,958 shares in the last quarter. 96.31% of the stock is currently 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.