Highwoods Properties (NYSE:HIW) had its target price upped by equities research analysts at Wells Fargo & Co from $49.00 to $54.00 in a research report issued on Tuesday, June 19th. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Wells Fargo & Co’s price target suggests a potential upside of 6.45% from the company’s current price.
Several other equities research analysts also recently commented on the stock. SunTrust Banks upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research report on Friday, March 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, March 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Highwoods Properties in a research note on Tuesday, March 13th. DA Davidson set a $60.00 price target on shares of Highwoods Properties and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Finally, Morgan Stanley decreased their price objective on shares of Highwoods Properties from $52.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, June 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.71.
NYSE HIW opened at $50.73 on Tuesday. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.88 and a beta of 0.79. Highwoods Properties has a 52 week low of $41.34 and a 52 week high of $53.34. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.95.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 24th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. Highwoods Properties had a net margin of 25.90% and a return on equity of 8.40%. The company had revenue of $180.44 million during the quarter, compared to analyst estimates of $176.03 million. During the same period in the prior year, the business posted $0.80 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. equities analysts expect that Highwoods Properties will post 3.44 earnings per share for the current year.
In other news, EVP Jeffrey Douglas Miller sold 3,676 shares of the firm’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $50.87, for a total transaction of $186,998.12. Following the completion of the transaction, the executive vice president now directly owns 83,438 shares of the company’s stock, valued at approximately $4,244,491.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. BB&T Securities LLC acquired a new stake in shares of Highwoods Properties during the 4th quarter worth about $200,000. Xact Kapitalforvaltning AB acquired a new stake in Highwoods Properties in the 4th quarter valued at about $225,000. Advisor Group Inc. increased its position in Highwoods Properties by 470.8% in the 4th quarter. Advisor Group Inc. now owns 4,452 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 3,672 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in Highwoods Properties in the 4th quarter valued at about $253,000. Finally, TLP Group LLC increased its position in Highwoods Properties by 39.3% in the 1st quarter. TLP Group LLC now owns 5,151 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 92.71% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fullyintegrated office REIT that 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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