Highwoods Properties, Inc. (HIW) Downgraded by Edward Jones
Highwoods Properties, Inc. (NYSE:HIW) was downgraded by investment analysts at Edward Jones from a “buy” rating to a “hold” rating in a report issued on Monday.
A number of other research firms have also recently commented on HIW. SunTrust Banks, Inc. set a $52.00 price target on Highwoods Properties and gave the stock a “hold” rating in a report on Tuesday, October 24th. BidaskClub cut Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Bank of America Corporation boosted their price target on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. Finally, Janney Montgomery Scott started coverage on Highwoods Properties in a report on Friday, September 8th. They set a “neutral” rating for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $54.80.
Shares of Highwoods Properties (NYSE HIW) traded up $0.19 during midday trading on Monday, reaching $51.37. The company’s stock had a trading volume of 406,792 shares, compared to its average volume of 457,419. The firm has a market cap of $5,284.28, a PE ratio of 15.14, a PEG ratio of 3.09 and a beta of 0.88. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.20 and a quick ratio of 1.20. Highwoods Properties has a 52-week low of $45.83 and a 52-week high of $53.34.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.54. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. equities research analysts expect that Highwoods Properties will post 3.38 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently modified their holdings of the business. Security Capital Research & Management Inc. increased its holdings in 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 worth $113,000 after purchasing an additional 100 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in 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 worth $136,000 after purchasing an additional 700 shares in the last quarter. Independent Portfolio Consultants Inc. increased its holdings in 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 worth $139,000 after purchasing an additional 408 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in 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 worth $151,000 after purchasing an additional 369 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in Highwoods Properties by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 124 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.
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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