Truist Financial Increases Highwoods Properties (NYSE:HIW) Price Target to $33.00

Highwoods Properties (NYSE:HIW) had its price objective hoisted by Truist Financial from $29.00 to $33.00 in a research note released on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Separately, Deutsche Bank Aktiengesellschaft lifted their target price on Highwoods Properties from $28.00 to $31.00 and gave the stock a buy rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $25.86.

Highwoods Properties Stock Performance

NYSE HIW opened at $29.92 on Tuesday. The stock has a market capitalization of $3.17 billion, a PE ratio of 24.52 and a beta of 1.26. The business has a 50 day simple moving average of $26.93 and a two-hundred day simple moving average of $25.42. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $31.58.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.31). The firm had revenue of $204.74 million for the quarter, compared to analysts’ expectations of $205.06 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. On average, research analysts predict that Highwoods Properties will post 3.58 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 6.68%. The ex-dividend date of this dividend is Monday, August 19th. Highwoods Properties’s payout ratio is currently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

A number of large investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in Highwoods Properties by 42.0% during 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 acquiring an additional 1,364,176 shares during the period. PGGM Investments raised its position in Highwoods Properties by 77.9% during the 2nd quarter. PGGM Investments now owns 3,629,485 shares of the real estate investment trust’s stock valued at $95,347,000 after purchasing an additional 1,589,730 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Highwoods Properties by 0.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,328,382 shares of the real estate investment trust’s stock worth $53,459,000 after acquiring an additional 9,397 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Highwoods Properties by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,898,083 shares of the real estate investment trust’s stock worth $43,580,000 after acquiring an additional 124,577 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Highwoods Properties by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,227,656 shares of the real estate investment trust’s stock worth $32,251,000 after acquiring an additional 56,399 shares in the last quarter. Hedge funds and other 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.