Highwoods Properties, Inc. (NYSE:HIW) Receives Average Rating of “Hold” from Analysts

Posted by on Aug 6th, 2023

Shares of Highwoods Properties, Inc. (NYSE:HIW – Get Free Report) have been assigned a consensus rating of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $28.14.

HIW has been the topic of a number of research reports. 888 reissued a “maintains” rating on shares of Highwoods Properties in a report on Tuesday, May 30th. SpectralCast reissued a “maintains” rating on shares of Highwoods Properties in a report on Tuesday, May 30th. StockNews.com assumed coverage on shares of Highwoods Properties in a report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup increased their price objective on shares of Highwoods Properties from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 price objective on shares of Highwoods Properties in a report on Wednesday, July 19th.

Hedge Funds Weigh In On Highwoods Properties

Several large investors have recently made changes to their positions in HIW. Norges Bank bought a new position in shares of Highwoods Properties during the 4th quarter valued at about $33,512,000. Centersquare Investment Management LLC boosted its holdings in shares of Highwoods Properties by 68.7% in the fourth quarter. Centersquare Investment Management LLC now owns 2,502,074 shares of the real estate investment trust’s stock worth $70,008,000 after buying an additional 1,019,182 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Highwoods Properties by 316.6% in the first quarter. Franklin Resources Inc. now owns 1,161,393 shares of the real estate investment trust’s stock worth $26,933,000 after buying an additional 882,638 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of Highwoods Properties by 4,897.7% in the first quarter. Balyasny Asset Management L.P. now owns 843,120 shares of the real estate investment trust’s stock worth $19,552,000 after buying an additional 826,250 shares during the period. Finally, State Street Corp boosted its holdings in shares of Highwoods Properties by 14.0% in the first quarter. State Street Corp now owns 6,343,699 shares of the real estate investment trust’s stock worth $290,161,000 after buying an additional 781,475 shares during the period. Institutional investors own 97.72% of the company’s stock.

Highwoods Properties Trading Up 1.1 %

HIW opened at $24.67 on Friday. The stock has a market capitalization of $2.61 billion, a PE ratio of 17.13 and a beta of 1.17. The firm’s fifty day moving average price is $23.65 and its 200 day moving average price is $24.32. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.20 and a quick ratio of 1.20. Highwoods Properties has a 12-month low of $19.45 and a 12-month high of $35.72.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 21st will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $2.00 dividend on an annualized basis and a yield of 8.11%. Highwoods Properties’s dividend payout ratio is presently 138.89%.

Highwoods Properties Company Profile

(Get Free Report

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, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.

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Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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