Citigroup Cuts Highwoods Properties (NYSE:HIW) Price Target to $24.00

Highwoods Properties (NYSE:HIW) had its price target cut by Citigroup from $30.00 to $24.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

HIW has been the subject of several other research reports. Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Morgan Stanley raised their price objective on Highwoods Properties from $23.00 to $24.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, January 6th. Wells Fargo & Company reduced their price target on shares of Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Highwoods Properties in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $29.78.

Highwoods Properties Trading Down 0.2%

NYSE:HIW opened at $23.46 on Wednesday. The stock has a fifty day simple moving average of $25.68 and a 200 day simple moving average of $28.25. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 16.07 and a beta of 1.06. Highwoods Properties has a 1-year low of $21.56 and a 1-year high of $32.76.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.58). Highwoods Properties had a return on equity of 6.86% and a net margin of 20.10%.The firm had revenue of $203.36 million during the quarter, compared to analyst estimates of $208.08 million. During the same quarter in the previous year, the business earned $0.85 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.400-3.680 EPS. Sell-side analysts forecast that Highwoods Properties will post 3.36 earnings per share for the current year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $2.00 dividend on an annualized basis and a yield of 8.5%. Highwoods Properties’s payout ratio is 136.99%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HIW. Norges Bank bought a new stake in Highwoods Properties in the second quarter worth $43,203,000. Aew Capital Management L P boosted its stake in shares of Highwoods Properties by 95.4% during the 3rd quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock worth $74,604,000 after acquiring an additional 1,144,991 shares in the last quarter. GRS Advisors LLC increased its holdings in shares of Highwoods Properties by 64.1% during the 3rd quarter. GRS Advisors LLC now owns 2,046,809 shares of the real estate investment trust’s stock valued at $65,129,000 after acquiring an additional 799,339 shares during the last quarter. Bayhunt Capital LLC acquired a new position in shares of Highwoods Properties during the 4th quarter valued at about $13,125,000. Finally, Gotham Asset Management LLC raised its stake in shares of Highwoods Properties by 88.1% in the 3rd quarter. Gotham Asset Management LLC now owns 910,271 shares of the real estate investment trust’s stock valued at $28,965,000 after acquiring an additional 426,241 shares in the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.