Highwoods Properties (NYSE:HIW) Price Target Lowered to $32.00 at Truist Financial

Highwoods Properties (NYSE:HIW) had its price objective trimmed by Truist Financial from $33.00 to $32.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

HIW has been the topic of a number of other research reports. Robert W. Baird upped their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Jefferies Financial Group cut their price target on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Finally, Mizuho increased their price target on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Highwoods Properties has an average rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Price Performance

Shares of HIW opened at $29.25 on Thursday. The stock has a market cap of $3.10 billion, a PE ratio of 21.83 and a beta of 1.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31. Highwoods Properties has a fifty-two week low of $22.60 and a fifty-two week high of $36.78. The firm’s 50-day simple moving average is $29.91 and its two-hundred day simple moving average is $31.62.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. Analysts anticipate that Highwoods Properties will post 3.61 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.84%. Highwoods Properties’s dividend payout ratio (DPR) is 149.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position 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. Massachusetts Financial Services Co. MA lifted its position in Highwoods Properties by 20.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,265,824 shares of the real estate investment trust’s stock valued at $99,869,000 after purchasing an additional 556,828 shares during the period. Franklin Resources Inc. raised its position in Highwoods Properties by 40.9% in 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 acquiring an additional 908,401 shares during the period. Charles Schwab Investment Management Inc. raised its position in Highwoods Properties by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,133,242 shares of the real estate investment trust’s stock worth $65,235,000 after acquiring an additional 71,670 shares during the period. Finally, Geode Capital Management LLC raised its position in Highwoods Properties by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,902,036 shares of the real estate investment trust’s stock worth $63,754,000 after acquiring an additional 12,958 shares during the period. Institutional investors own 96.31% of the company’s stock.

About Highwoods Properties

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.