Highwoods Properties (NYSE:HIW) PT Set at $49.00 by Robert W. Baird

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Robert W. Baird set a $49.00 target price on Highwoods Properties (NYSE:HIW) in a research note released on Wednesday morning, TipRanks reports. The firm currently has a hold rating on the real estate investment trust’s stock.

A number of other research firms have also recently issued reports on HIW. TheStreet cut Highwoods Properties from a b- rating to a c+ rating in a research report on Monday, May 13th. ValuEngine raised Highwoods Properties from a sell rating to a hold rating in a research report on Friday, July 26th. Finally, Zacks Investment Research raised Highwoods Properties from a sell rating to a hold rating in a research report on Tuesday, May 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $49.00.

HIW stock opened at $42.73 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $43.87 and a two-hundred day moving average price of $44.72. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 3.37 and a beta of 0.81. Highwoods Properties has a twelve month low of $37.09 and a twelve month high of $49.94.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.47). Highwoods Properties had a net margin of 18.79% and a return on equity of 6.13%. The company had revenue of $184.10 million during the quarter, compared to the consensus estimate of $180.20 million. During the same quarter in the prior year, the business earned $0.87 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts anticipate that Highwoods Properties will post 3.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Monday, August 12th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.45%. Highwoods Properties’s payout ratio is 55.07%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIW. Dimensional Fund Advisors LP grew its position in shares of Highwoods Properties by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,601,574 shares of the real estate investment trust’s stock worth $61,965,000 after buying an additional 17,556 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Highwoods Properties by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 1,306,549 shares of the real estate investment trust’s stock worth $50,550,000 after purchasing an additional 96,998 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Highwoods Properties by 29.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 269,105 shares of the real estate investment trust’s stock worth $12,589,000 after purchasing an additional 61,900 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Highwoods Properties by 2,092.1% in the first quarter. BNP Paribas Arbitrage SA now owns 38,186 shares of the real estate investment trust’s stock worth $1,786,000 after purchasing an additional 36,444 shares during the period. Finally, Private Capital Group LLC boosted its holdings in Highwoods Properties by 261.2% in the first quarter. Private Capital Group LLC now owns 1,062 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 768 shares during the period. 92.00% of the stock is owned by institutional investors.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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