Highwoods Properties, Inc. (NYSE:HIW) Receives $24.38 Consensus PT from Analysts

Shares of Highwoods Properties, Inc. (NYSE:HIW) have been assigned a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $24.38.

A number of brokerages have commented on HIW. Deutsche Bank Aktiengesellschaft began coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They issued a “buy” rating and a $28.00 price objective for the company. Morgan Stanley lifted their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, March 28th. Robert W. Baird lifted their price target on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Truist Financial lifted their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th.

Institutional Investors Weigh In On Highwoods Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIW. Raymond James & Associates lifted its holdings in Highwoods Properties by 14.1% during the 1st quarter. Raymond James & Associates now owns 28,170 shares of the real estate investment trust’s stock valued at $1,289,000 after buying an additional 3,480 shares in the last quarter. HighTower Advisors LLC bought a new stake in Highwoods Properties during the 1st quarter valued at about $215,000. MetLife Investment Management LLC lifted its holdings in Highwoods Properties by 34.0% during the 1st quarter. MetLife Investment Management LLC now owns 67,793 shares of the real estate investment trust’s stock valued at $3,101,000 after buying an additional 17,208 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Highwoods Properties by 11.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,442 shares of the real estate investment trust’s stock valued at $1,758,000 after purchasing an additional 3,834 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of Highwoods Properties by 5.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 144,790 shares of the real estate investment trust’s stock valued at $6,847,000 after purchasing an additional 7,918 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $23.96 on Friday. Highwoods Properties has a 52 week low of $17.06 and a 52 week high of $26.27. The stock has a market capitalization of $2.54 billion, a P/E ratio of 17.24 and a beta of 1.23. The firm has a fifty day simple moving average of $24.49 and a two-hundred day simple moving average of $22.09. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 8.35%. Highwoods Properties’s payout ratio is 143.89%.

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.