Brokerages Set Highwoods Properties, Inc. (NYSE:HIW) Price Target at $24.75

Shares of Highwoods Properties, Inc. (NYSE:HIW) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $24.75.

Several analysts recently commented on HIW shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Highwoods Properties from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird boosted their price target on shares of Highwoods Properties from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley upped their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a research note on Thursday, March 28th. Finally, Truist Financial lifted their price objective on Highwoods Properties from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, February 13th.

Institutional Investors Weigh In On Highwoods Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PGGM Investments bought a new stake in Highwoods Properties during the fourth quarter valued at about $46,833,000. Franklin Resources Inc. grew its holdings in Highwoods Properties by 42.0% in the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock valued at $105,952,000 after buying an additional 1,364,176 shares during the last quarter. Vanguard Group Inc. grew its holdings in Highwoods Properties by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock valued at $358,017,000 after buying an additional 1,139,688 shares during the last quarter. Norges Bank bought a new position in Highwoods Properties in the 4th quarter worth approximately $24,306,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Highwoods Properties by 47.6% during the third quarter. AQR Capital Management LLC now owns 1,565,801 shares of the real estate investment trust’s stock worth $32,271,000 after buying an additional 504,777 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Trading Up 2.0 %

NYSE:HIW opened at $26.93 on Tuesday. The stock has a market cap of $2.85 billion, a PE ratio of 22.07 and a beta of 1.20. Highwoods Properties has a fifty-two week low of $17.06 and a fifty-two week high of $27.57. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s 50-day moving average is $25.20 and its two-hundred day moving average is $22.77.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date is Friday, May 17th. Highwoods Properties’s dividend payout ratio is presently 163.93%.

Highwoods Properties Company Profile

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.