DA Davidson Reiterates “Buy” Rating for Highwoods Properties (NYSE:HIW)

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.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.53). The company had revenue of $183.15 million for the quarter, compared to analysts’ expectations of $187.69 million. Highwoods Properties had a return on equity of 13.93% and a net margin of 41.15%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. On average, equities research analysts expect that Highwoods Properties will post 3.61 earnings per share for the current year.

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.

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Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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