Highwoods Properties, Inc. (HIW) Receives Average Rating of “Hold” from Brokerages
Highwoods Properties, Inc. (NYSE:HIW) has been assigned a consensus recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $54.67.
Several analysts recently weighed in on HIW shares. ValuEngine downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price on shares of Highwoods Properties in a research note on Wednesday, April 19th. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total value of $525,100.00. Following the completion of the sale, the chief operating officer now owns 63,194 shares in the company, valued at approximately $3,318,316.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in HIW. Capstone Asset Management Co. increased its stake in shares of Highwoods Properties by 8.4% in the first quarter. Capstone Asset Management Co. now owns 7,578 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 590 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Highwoods Properties by 3.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,700 shares of the real estate investment trust’s stock worth $1,263,000 after buying an additional 900 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Highwoods Properties by 28.3% in the first quarter. State of Alaska Department of Revenue now owns 25,510 shares of the real estate investment trust’s stock worth $1,252,000 after buying an additional 5,630 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of Highwoods Properties by 1.4% in the first quarter. Retirement Systems of Alabama now owns 131,254 shares of the real estate investment trust’s stock worth $6,449,000 after buying an additional 1,843 shares in the last quarter. Finally, Van Cleef Asset Management Inc increased its stake in shares of Highwoods Properties by 2.5% in the first quarter. Van Cleef Asset Management Inc now owns 39,573 shares of the real estate investment trust’s stock worth $1,944,000 after buying an additional 961 shares in the last quarter. Institutional investors own 98.77% of the company’s stock.
Highwoods Properties (NYSE:HIW) traded down 0.54% during midday trading on Friday, reaching $49.98. The company’s stock had a trading volume of 379,540 shares. The stock has a 50 day moving average of $50.66 and a 200 day moving average of $50.76. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $54.25. The firm has a market capitalization of $5.16 billion, a PE ratio of 39.86 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.59. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The firm had revenue of $177.28 million during the quarter, compared to the consensus estimate of $172.28 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Highwoods Properties will post $1.19 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Monday, August 14th will be given a $0.44 dividend. The ex-dividend date is Thursday, August 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.52%. Highwoods Properties’s dividend payout ratio is currently 141.94%.
About Highwoods Properties
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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