Highwoods Properties, Inc. (NYSE:HIW – Get Rating) – Zacks Research cut their Q2 2023 EPS estimates for Highwoods Properties in a research note issued to investors on Monday, May 8th. Zacks Research analyst N. Dass now forecasts that the real estate investment trust will post earnings per share of $0.93 for the quarter, down from their prior forecast of $0.94. The consensus estimate for Highwoods Properties’ current full-year earnings is $3.77 per share. Zacks Research also issued estimates for Highwoods Properties’ Q3 2023 earnings at $0.93 EPS, Q3 2023 earnings at $0.93 EPS, Q1 2024 earnings at $0.92 EPS, Q1 2024 earnings at $0.92 EPS, Q2 2024 earnings at $0.92 EPS, Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $3.70 EPS.
Several other research firms have also recently issued reports on HIW. Wells Fargo & Company decreased their price target on shares of Highwoods Properties from $34.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, March 16th. Morgan Stanley decreased their price objective on shares of Highwoods Properties from $26.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, March 31st. StockNews.com assumed coverage on shares of Highwoods Properties in a report on Thursday, March 16th. They issued a “hold” rating for the company. Credit Suisse Group reduced their price target on shares of Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Tuesday, January 24th. Finally, Truist Financial reduced their price objective on shares of Highwoods Properties from $37.00 to $35.00 and set a “buy” rating for the company in a report on Monday, February 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Highwoods Properties currently has a consensus rating of “Hold” and a consensus price target of $29.71.
Highwoods Properties Stock Down 1.7 %
Highwoods Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 13th. Shareholders of record on Monday, May 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 9.39%. The ex-dividend date is Friday, May 19th. Highwoods Properties’s payout ratio is currently 132.45%.
Insider Buying and Selling at Highwoods Properties
In related news, CEO Theodore J. Klinck purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The shares were acquired at an average price of $19.81 per share, for a total transaction of $99,050.00. Following the completion of the acquisition, the chief executive officer now directly owns 337,177 shares in the company, valued at approximately $6,679,476.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.
Institutional Trading of Highwoods Properties
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its position in Highwoods Properties by 1.2% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 30,643 shares of the real estate investment trust’s stock worth $826,000 after acquiring an additional 357 shares during the period. United Services Automobile Association raised its holdings in Highwoods Properties by 3.6% during the third quarter. United Services Automobile Association now owns 11,622 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 400 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in Highwoods Properties by 1.5% during the first quarter. Ameritas Investment Partners Inc. now owns 28,020 shares of the real estate investment trust’s stock worth $1,282,000 after purchasing an additional 416 shares during the last quarter. Mackenzie Financial Corp raised its holdings in Highwoods Properties by 7.2% during the first quarter. Mackenzie Financial Corp now owns 6,573 shares of the real estate investment trust’s stock worth $301,000 after purchasing an additional 439 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Highwoods Properties by 103.2% during the fourth quarter. IFP Advisors Inc now owns 878 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.
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