Highwoods Properties, Inc. (NYSE:HIW – Free Report) – Investment analysts at Zacks Research reduced their Q3 2023 EPS estimates for Highwoods Properties in a research report issued to clients and investors on Wednesday, October 4th. Zacks Research analyst R. Fatarpekar now forecasts that the real estate investment trust will earn $0.92 per share for the quarter, down from their previous forecast of $0.93. The consensus estimate for Highwoods Properties’ current full-year earnings is $3.78 per share. Zacks Research also issued estimates for Highwoods Properties’ Q4 2023 earnings at $0.93 EPS, Q2 2025 earnings at $0.92 EPS, Q3 2025 earnings at $0.90 EPS and FY2025 earnings at $3.67 EPS.
HIW has been the subject of a number of other reports. Wells Fargo & Company cut Highwoods Properties from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $27.00 to $22.00 in a report on Wednesday, August 30th. Citigroup raised their price target on shares of Highwoods Properties from $22.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on shares of Highwoods Properties in a research report on Thursday. They issued a “hold” rating for the company. Finally, Morgan Stanley restated an “equal weight” rating and set a $22.00 target price on shares of Highwoods Properties in a research report on Wednesday, July 19th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $27.57.
Highwoods Properties Trading Down 1.5 %
Shares of HIW opened at $19.18 on Friday. 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 1-year low of $18.56 and a 1-year high of $31.88. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 13.32 and a beta of 1.19. The firm has a 50 day simple moving average of $22.76 and a 200-day simple moving average of $22.75.
Institutional Trading of Highwoods Properties
Institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Highwoods Properties during the fourth quarter valued at about $33,512,000. Centersquare Investment Management LLC increased its position in Highwoods Properties by 68.7% during the 4th quarter. Centersquare Investment Management LLC now owns 2,502,074 shares of the real estate investment trust’s stock worth $70,008,000 after purchasing an additional 1,019,182 shares in the last quarter. Franklin Resources Inc. increased its position in Highwoods Properties by 82.7% during the 2nd quarter. Franklin Resources Inc. now owns 2,121,571 shares of the real estate investment trust’s stock worth $50,727,000 after purchasing an additional 960,178 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Highwoods Properties by 4,897.7% during the first quarter. Balyasny Asset Management L.P. now owns 843,120 shares of the real estate investment trust’s stock valued at $19,552,000 after buying an additional 826,250 shares in the last quarter. Finally, State Street Corp grew its stake in Highwoods Properties by 14.0% during 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. 96.31% of the stock is owned by hedge funds and other institutional investors.
Highwoods Properties Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Monday, August 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.43%. Highwoods Properties’s dividend payout ratio (DPR) is presently 138.89%.
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, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.
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