DA Davidson reaffirmed their buy rating on shares of Highwoods Properties (NYSE:HIW) in a report published on Wednesday, Zacks.com reports. DA Davidson also issued estimates for Highwoods Properties’ Q3 2020 earnings at $0.87 EPS, FY2020 earnings at $3.60 EPS and FY2021 earnings at $3.61 EPS.
A number of other research firms also recently commented on HIW. Citigroup decreased their price objective on shares of Highwoods Properties from $51.00 to $34.00 and set a neutral rating on the stock in a report on Tuesday, April 7th. Mizuho raised shares of Highwoods Properties from a neutral rating to a buy rating and reduced their price target for the company from $51.00 to $45.00 in a report on Tuesday, April 28th. ValuEngine downgraded shares of Highwoods Properties from a hold rating to a sell rating in a report on Tuesday, April 21st. Morgan Stanley raised shares of Highwoods Properties from an equal weight rating to an overweight rating and upped their price target for the company from $40.00 to $44.00 in a report on Wednesday, June 24th. Finally, SunTrust Banks upped their price target on shares of Highwoods Properties from $43.00 to $45.00 and gave the company a buy rating in a report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $44.38.
HIW stock opened at $38.34 on Wednesday. The company has a market cap of $3.98 billion, a P/E ratio of 12.78, a P/E/G ratio of 2.24 and a beta of 0.99. Highwoods Properties has a 52 week low of $25.10 and a 52 week high of $52.76. The company’s 50-day moving average price is $37.63 and its 200 day moving average price is $40.61. The company has a current ratio of 1.07, a quick ratio of 1.48 and a debt-to-equity ratio of 1.01.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date is Friday, August 14th. Highwoods Properties’s dividend payout ratio is presently 57.66%.
Several large investors have recently bought and sold shares of HIW. Cohen & Steers Inc. raised its position in shares of Highwoods Properties by 14,765.2% in the first quarter. Cohen & Steers Inc. now owns 2,872,990 shares of the real estate investment trust’s stock valued at $101,761,000 after buying an additional 2,853,663 shares during the last quarter. Deutsche Bank AG increased its position in Highwoods Properties by 514.8% during the first quarter. Deutsche Bank AG now owns 2,670,786 shares of the real estate investment trust’s stock worth $94,599,000 after purchasing an additional 2,236,348 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Highwoods Properties by 700.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,439,582 shares of the real estate investment trust’s stock worth $50,990,000 after purchasing an additional 1,259,754 shares during the last quarter. Norges Bank acquired a new position in Highwoods Properties during the fourth quarter worth approximately $60,156,000. Finally, Centersquare Investment Management LLC increased its position in Highwoods Properties by 680.6% during the first quarter. Centersquare Investment Management LLC now owns 1,021,018 shares of the real estate investment trust’s stock worth $36,165,000 after purchasing an additional 890,218 shares during the last quarter. 95.60% of the stock is owned by institutional investors and hedge funds.
Highwoods Properties Company Profile
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
See Also: Net Income
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