Highwoods Properties, Inc. (HIW) Given a $52.00 Price Target at SunTrust Banks, Inc.
Highwoods Properties, Inc. (NYSE:HIW) has been assigned a $52.00 price target by investment analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Tuesday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s target price points to a potential upside of 1.40% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Bank of America Corporation increased their price objective on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Janney Montgomery Scott started coverage on Highwoods Properties in a report on Friday, September 8th. They issued a “neutral” rating for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Highwoods Properties presently has an average rating of “Hold” and a consensus price target of $54.80.
Shares of Highwoods Properties (NYSE:HIW) opened at 51.28 on Tuesday. Highwoods Properties has a one year low of $45.83 and a one year high of $53.34. The firm has a 50-day moving average price of $52.24 and a 200-day moving average price of $51.29. The company has a market capitalization of $5.29 billion, a P/E ratio of 40.89 and a beta of 0.89.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.54. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The business had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $177.15 million. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was up 8.4% on a year-over-year basis. Equities analysts forecast that Highwoods Properties will post $1.26 earnings per share for the current year.
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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Security Capital Research & Management Inc. lifted its stake in shares of Highwoods Properties by 4.8% in the 3rd quarter. Security Capital Research & Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 100 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Highwoods Properties by 36.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 700 shares during the period. Independent Portfolio Consultants Inc. lifted its stake in shares of Highwoods Properties by 17.5% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 408 shares during the period. Public Employees Retirement Association of Colorado purchased a new position in shares of Highwoods Properties in the 2nd quarter valued at approximately $162,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Highwoods Properties by 13.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $151,000 after purchasing an additional 369 shares during the period. Institutional investors own 97.52% of the company’s stock.
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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