Highwoods Properties (NYSE:HIW) Sets New 1-Year High on Analyst Upgrade

Highwoods Properties, Inc. (NYSE:HIWGet Free Report) reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $18.00 to $21.00. Morgan Stanley currently has an underweight rating on the stock. Highwoods Properties traded as high as $26.27 and last traded at $26.09, with a volume of 32796 shares trading hands. The stock had previously closed at $25.93.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird increased their price objective on Highwoods Properties from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Truist Financial boosted their price objective on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.38.

Read Our Latest Stock Report on Highwoods Properties

Institutional Trading of Highwoods Properties

A number of institutional investors have recently bought and sold shares of HIW. CENTRAL TRUST Co lifted its holdings in shares of Highwoods Properties by 76.6% during the 3rd quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 475 shares during the period. Quarry LP bought a new stake in shares of Highwoods Properties during the 1st quarter worth approximately $27,000. KBC Group NV bought a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $31,000. Finally, Planned Solutions Inc. bought a new stake in shares of Highwoods Properties during the 4th quarter worth approximately $38,000. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Stock Performance

The stock’s fifty day moving average price is $23.89 and its two-hundred day moving average price is $21.79. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $2.77 billion, a P/E ratio of 18.83 and a beta of 1.23.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date was Friday, February 16th. Highwoods Properties’s dividend payout ratio (DPR) is presently 143.89%.

About Highwoods Properties

(Get Free Report)

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.

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