Highwoods Properties (NYSE:HIW) Given New $23.00 Price Target at Truist Financial

Highwoods Properties (NYSE:HIW) had its price target reduced by equities research analysts at Truist Financial from $29.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Truist Financial’s price objective indicates a potential upside of 5.72% from the company’s previous close.

Several other brokerages have also recently issued reports on HIW. Wall Street Zen cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Highwoods Properties in a research note on Thursday, January 22nd. Citigroup lowered their price target on Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, February 18th. Robert W. Baird set a $29.00 price objective on Highwoods Properties in a report on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $27.00 target price on shares of Highwoods Properties in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.78.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded up $0.30 during trading on Tuesday, hitting $21.76. 79,252 shares of the company’s stock traded hands, compared to its average volume of 1,434,261. Highwoods Properties has a 1 year low of $21.18 and a 1 year high of $32.76. The business has a 50-day simple moving average of $24.65 and a 200-day simple moving average of $27.45. The stock has a market capitalization of $2.39 billion, a P/E ratio of 14.90 and a beta of 1.07. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.41 and a quick ratio of 1.41.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.58). The company had revenue of $203.36 million for the quarter, compared to the consensus estimate of $208.08 million. Highwoods Properties had a net margin of 20.10% and a return on equity of 6.86%. Highwoods Properties’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. Highwoods Properties has set its FY 2026 guidance at 3.400-3.680 EPS. As a group, analysts forecast that Highwoods Properties will post 3.36 EPS for the current year.

Hedge Funds Weigh In On Highwoods Properties

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Highwoods Properties in the second quarter worth about $43,203,000. Aew Capital Management L P lifted its position in shares of Highwoods Properties by 95.4% during the 3rd quarter. Aew Capital Management L P now owns 2,344,571 shares of the real estate investment trust’s stock valued at $74,604,000 after buying an additional 1,144,991 shares in the last quarter. GRS Advisors LLC grew its stake in shares of Highwoods Properties by 64.1% during the 3rd quarter. GRS Advisors LLC now owns 2,046,809 shares of the real estate investment trust’s stock valued at $65,129,000 after acquiring an additional 799,339 shares during the period. Bayhunt Capital LLC bought a new position in shares of Highwoods Properties during the 4th quarter valued at approximately $13,125,000. Finally, Gotham Asset Management LLC increased its holdings in Highwoods Properties by 88.1% in the 3rd quarter. Gotham Asset Management LLC now owns 910,271 shares of the real estate investment trust’s stock worth $28,965,000 after acquiring an additional 426,241 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

Highwoods Properties Company Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.