Highwoods Properties (HIW) Lifted to Buy at ValuEngine

Highwoods Properties (NYSE:HIW) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday.

Several other equities research analysts have also recently weighed in on HIW. Bank of America raised their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. SunTrust Banks set a $52.00 price target on shares of Highwoods Properties and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, Janney Montgomery Scott started coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They set a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $54.80.

Highwoods Properties (NYSE:HIW) traded down $1.15 on Thursday, reaching $49.23. 511,716 shares of the company’s stock traded hands, compared to its average volume of 495,500. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5,200.00, a PE ratio of 34.19, a PEG ratio of 3.15 and a beta of 0.87. Highwoods Properties has a 52-week low of $48.42 and a 52-week high of $53.34.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the 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 net margin of 22.02% and a return on equity of 7.09%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. sell-side analysts expect that Highwoods Properties will post 3.38 EPS for the current fiscal year.

In related news, Director Sherry A. Kellett sold 1,000 shares of Highwoods Properties stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $51.70, for a total transaction of $51,700.00. Following the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $607,164.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherry A. Kellett sold 2,000 shares of Highwoods Properties stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the transaction, the director now directly owns 13,744 shares in the company, valued at approximately $695,996.16. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Highwoods Properties by 36.8% in the second quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock valued at $166,240,000 after buying an additional 882,571 shares in the last quarter. Westpac Banking Corp lifted its stake in Highwoods Properties by 7.0% in the third quarter. Westpac Banking Corp now owns 53,780 shares of the real estate investment trust’s stock valued at $2,801,000 after buying an additional 3,500 shares in the last quarter. Cbre Clarion Securities LLC lifted its stake in Highwoods Properties by 19.0% in the second quarter. Cbre Clarion Securities LLC now owns 143,700 shares of the real estate investment trust’s stock valued at $7,287,000 after buying an additional 22,900 shares in the last quarter. Honeywell International Inc. lifted its stake in Highwoods Properties by 17.4% in the third quarter. Honeywell International Inc. now owns 47,142 shares of the real estate investment trust’s stock valued at $2,456,000 after buying an additional 6,992 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Highwoods Properties by 1.4% in the third quarter. Duff & Phelps Investment Management Co. now owns 901,314 shares of the real estate investment trust’s stock valued at $46,949,000 after buying an additional 12,625 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.

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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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Analyst Recommendations for Highwoods Properties (NYSE:HIW)

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