Highwoods Properties, Inc. (NYSE:HIW) Given Average Recommendation of “Hold” by Analysts
Shares of Highwoods Properties, Inc. (NYSE:HIW) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $56.50.
A number of equities analysts recently commented on the stock. BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 target price on shares of Highwoods Properties in a research report on Wednesday, April 19th. Finally, ValuEngine cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
In related news, COO Theodore J. Klinck sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $52.51, for a total transaction of $525,100.00. Following the sale, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. raised its stake in Highwoods Properties by 17.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 408 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Highwoods Properties by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $151,000 after buying an additional 369 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Highwoods Properties during the first quarter valued at about $210,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Highwoods Properties during the first quarter valued at about $255,000. Finally, World Asset Management Inc boosted its position in shares of Highwoods Properties by 3.6% in the first quarter. World Asset Management Inc now owns 6,233 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 217 shares during the period. 98.83% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Highwoods Properties (HIW) traded down 0.02% on Tuesday, hitting $50.51. 232,615 shares of the stock traded hands. The firm has a market cap of $5.15 billion, a P/E ratio of 41.78 and a beta of 0.88. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $56.23. The stock has a 50-day moving average price of $51.14 and a 200 day moving average price of $50.85.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.02. The firm had revenue of $169.41 million for the quarter, compared to analysts’ expectations of $167.20 million. Highwoods Properties had a net margin of 18.29% and a return on equity of 5.80%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. Equities research analysts predict that Highwoods Properties will post $1.18 EPS for the current fiscal year.
Highwoods Properties Company Profile
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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