Highwoods Properties (NYSE:HIW) Sets New 52-Week High - Still a Buy?

Highwoods Properties, Inc. (NYSE:HIW - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $36.78 and last traded at $36.43, with a volume of 239871 shares. The stock had previously closed at $35.59.

Analysts Set New Price Targets

A number of research firms have recently commented on HIW. Robert W. Baird boosted their price target on shares of Highwoods Properties from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Truist Financial raised their price target on Highwoods Properties from $29.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on Highwoods Properties from $22.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and raised their target price for the company from $31.00 to $35.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.50.

Highwoods Properties Stock Up 0.4 %

The company has a market cap of $3.79 billion, a P/E ratio of 29.82 and a beta of 1.26. The stock has a 50-day moving average of $32.83 and a two-hundred day moving average of $28.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $204.30 million during the quarter, compared to analysts' expectations of $204.96 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. Highwoods Properties's revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, research analysts anticipate that Highwoods Properties, Inc. will post 3.6 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 paid a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 5.60%. Highwoods Properties's dividend payout ratio (DPR) is presently 163.93%.

Institutional Investors Weigh In On Highwoods Properties

Large investors have recently bought and sold shares of the business. Riverview Trust Co purchased a new stake in shares of Highwoods Properties during the 1st quarter valued at about $34,000. Abich Financial Wealth Management LLC grew its position 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 worth $49,000 after purchasing an additional 580 shares during the period. Versant Capital Management Inc boosted its stake in shares of Highwoods Properties by 141.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,073 shares of the real estate investment trust's stock worth $54,000 after buying an additional 1,214 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Highwoods Properties by 269.8% in the third quarter. Blue Trust Inc. now owns 3,221 shares of the real estate investment trust's stock worth $108,000 after acquiring an additional 2,350 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in Highwoods Properties during the first quarter valued at $107,000. 96.31% of the stock is currently owned by 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.