Highwoods Properties (NYSE:HIW) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

Highwoods Properties, Inc. (NYSE:HIW)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $30.18 and traded as high as $30.50. Highwoods Properties shares last traded at $30.4070, with a volume of 1,400,962 shares.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HIW shares. Citigroup increased their price target on Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings raised shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Wednesday, August 5th. Mizuho set a $32.00 target price on shares of Highwoods Properties in a research note on Tuesday, September 8th. Finally, Morgan Stanley lifted their target price on shares of Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Nine investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $32.00.

Highwoods Properties Stock Performance

The company has a quick ratio of 1.68, a current ratio of 2.08 and a debt-to-equity ratio of 1.38. The firm has a fifty day moving average of $30.18 and a 200-day moving average of $27.50. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 17.99 and a beta of 1.06.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.08. The firm had revenue of $218.18 million during the quarter, compared to the consensus estimate of $216.39 million. Highwoods Properties had a net margin of 22.56% and a return on equity of 7.68%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.58 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 6.6%. Highwoods Properties’s dividend payout ratio is presently 131.58%.

Institutional Investors Weigh In On Highwoods Properties

A number of large investors have recently bought and sold shares of HIW. State of Wyoming increased its position in Highwoods Properties by 151.2% during the 3rd quarter. State of Wyoming now owns 6,913 shares of the real estate investment trust’s stock worth $201,000 after purchasing an additional 4,161 shares in the last quarter. Choreo LLC increased its stake in Highwoods Properties by 27.5% in the third quarter. Choreo LLC now owns 17,481 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 3,771 shares during the last quarter. Interchange Capital Partners LLC purchased a new position in Highwoods Properties during the third quarter worth about $250,000. Fifth Third Wealth Advisors LLC purchased a new position in Highwoods Properties during the third quarter worth about $575,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Highwoods Properties by 13.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,487 shares of the real estate investment trust’s stock worth $769,000 after buying an additional 3,103 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Highwoods Properties Company Profile

Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.