Highwoods Properties, Inc. (NYSE:HIW) Receives $24.38 Average Target Price from Analysts

Highwoods Properties, Inc. (NYSE:HIW) has earned a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $24.38.

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

Highwoods Properties Price Performance

Shares of Highwoods Properties stock opened at $23.68 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33. The company has a market cap of $2.51 billion, a PE ratio of 17.04 and a beta of 1.23. The business has a 50 day moving average of $24.47 and a 200 day moving average of $22.06. Highwoods Properties has a 52 week low of $17.06 and a 52 week high of $26.27.

Highwoods Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 16th. This represents a $2.00 annualized dividend and a dividend yield of 8.45%. Highwoods Properties’s dividend payout ratio (DPR) is presently 143.89%.

Institutional Investors Weigh In On Highwoods Properties

Several institutional investors have recently modified their holdings of HIW. PGGM Investments purchased a new stake in shares of Highwoods Properties during the fourth quarter valued at $46,833,000. Franklin Resources Inc. boosted its position in Highwoods Properties by 42.0% in the fourth quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock worth $105,952,000 after purchasing an additional 1,364,176 shares during the last quarter. Norges Bank purchased a new position in Highwoods Properties in the fourth quarter worth about $33,512,000. Vanguard Group Inc. boosted its position in Highwoods Properties by 7.0% in the third quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock worth $358,017,000 after purchasing an additional 1,139,688 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in 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 purchasing an additional 826,250 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

About Highwoods Properties

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.