Highwoods Properties (NYSE:HIW) Shares Gap Down - Here's What Happened

Highwoods Properties, Inc. (NYSE:HIW - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $31.66, but opened at $31.00. Highwoods Properties shares last traded at $31.22, with a volume of 53,148 shares traded.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and increased their price objective for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Monday, November 4th. Finally, Truist Financial raised their price objective on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Highwoods Properties presently has a consensus rating of "Hold" and a consensus target price of $31.20.

Highwoods Properties Trading Up 0.7 %

The company's 50 day moving average price is $33.51 and its 200 day moving average price is $30.02. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market cap of $3.33 billion, a PE ratio of 23.43 and a beta of 1.26.

Highwoods Properties (NYSE:HIW - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The firm had revenue of $204.30 million during the quarter, compared to analysts' expectations of $204.96 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm's revenue was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Highwoods Properties, Inc. will post 3.62 EPS for the current fiscal year.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.37%. Highwoods Properties's payout ratio is 149.25%.

Hedge Funds Weigh In On Highwoods Properties

A number of institutional investors have recently modified their holdings of HIW. Quarry LP acquired a new position in Highwoods Properties in the 3rd quarter valued at $48,000. Abich Financial Wealth Management LLC raised its stake in Highwoods Properties by 45.5% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,855 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 580 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Highwoods Properties by 141.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 1,214 shares during the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Highwoods Properties during the 1st quarter valued at about $107,000. Finally, Blue Trust Inc. increased its stake in shares of Highwoods Properties by 269.8% during the 3rd quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 2,350 shares during the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

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.