Highwoods Properties (NYSE:HIW) Price Target Raised to $35.00

Highwoods Properties (NYSE:HIW - Free Report) had its price objective raised by Wells Fargo & Company from $32.00 to $35.00 in a research note published on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust's stock.

HIW has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a "buy" rating to a "hold" rating and increased their target price for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Robert W. Baird increased their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Truist Financial upped their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $29.33.

Highwoods Properties Trading Up 1.2 %

Shares of HIW stock traded up $0.40 during trading hours on Monday, hitting $33.04. 2,007,520 shares of the company's stock traded hands, compared to its average volume of 993,017. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41. Highwoods Properties has a 12 month low of $17.17 and a 12 month high of $36.78. The stock has a market cap of $3.50 billion, a PE ratio of 24.66 and a beta of 1.26. The stock's 50 day simple moving average is $33.31 and its 200 day simple moving average is $29.46.

Highwoods Properties (NYSE:HIW - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74). The company had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, sell-side analysts anticipate that Highwoods Properties will post 3.62 EPS for the current year.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a yield of 6.05%. Highwoods Properties's payout ratio is 149.25%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Highwoods Properties by 245.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust's stock valued at $11,283,000 after buying an additional 306,265 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Highwoods Properties by 9.1% during the first quarter. Commonwealth Equity Services LLC now owns 22,844 shares of the real estate investment trust's stock valued at $598,000 after buying an additional 1,915 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Highwoods Properties by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 339,447 shares of the real estate investment trust's stock valued at $8,887,000 after buying an additional 33,719 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Highwoods Properties by 12.3% during the first quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust's stock valued at $139,000 after buying an additional 583 shares during the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of Highwoods Properties by 4.0% during the first quarter. GSA Capital Partners LLP now owns 39,505 shares of the real estate investment trust's stock valued at $1,034,000 after buying an additional 1,506 shares during the last quarter. Institutional investors own 96.31% of the company's stock.

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.