Highwoods Properties (NYSE:HIW) had its price objective reduced by research analysts at Stifel Nicolaus from $55.00 to $50.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price objective points to a potential upside of 14.42% from the stock’s current price.
Other equities analysts have also recently issued reports about the company. ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Highwoods Properties currently has an average rating of “Hold” and an average target price of $51.50.
Shares of Highwoods Properties (NYSE HIW) traded up $0.89 during trading hours on Thursday, reaching $43.70. The company’s stock had a trading volume of 995,514 shares, compared to its average volume of 763,531. The company has a current ratio of 1.40, a quick ratio of 1.20 and a debt-to-equity ratio of 0.91. Highwoods Properties has a fifty-two week low of $42.47 and a fifty-two week high of $53.34. The company has a market cap of $4,513.51, a PE ratio of 24.69, a PEG ratio of 4.28 and a beta of 0.74.
Institutional investors have recently made changes to their positions in the company. Aurora Investment Counsel purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at $2,069,000. Westpac Banking Corp increased its holdings in Highwoods Properties by 7.0% in the 3rd quarter. Westpac Banking Corp now owns 53,780 shares of the real estate investment trust’s stock worth $2,801,000 after acquiring an additional 3,500 shares during the last quarter. Bank of Montreal Can increased its holdings in Highwoods Properties by 1.2% in the 4th quarter. Bank of Montreal Can now owns 784,753 shares of the real estate investment trust’s stock worth $39,951,000 after acquiring an additional 9,120 shares during the last quarter. Honeywell International Inc. increased its holdings in Highwoods Properties by 17.4% in the 3rd quarter. Honeywell International Inc. now owns 47,142 shares of the real estate investment trust’s stock worth $2,456,000 after acquiring an additional 6,992 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Highwoods Properties by 9.7% in the 3rd quarter. Legal & General Group Plc now owns 371,232 shares of the real estate investment trust’s stock worth $19,338,000 after acquiring an additional 32,695 shares during the last quarter. 96.59% of the stock is owned by hedge funds and other institutional investors.
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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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