Mizuho Forecasts Strong Price Appreciation for Highwoods Properties (NYSE:HIW) Stock

Highwoods Properties (NYSE:HIW) had its price target increased by investment analysts at Mizuho from $29.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective suggests a potential downside of 3.57% from the stock’s previous close.

HIW has been the subject of several other reports. Jefferies Financial Group started coverage on Highwoods Properties in a report on Monday, March 17th. They set a “buy” rating and a $32.00 price target for the company. Wells Fargo & Company dropped their price objective on Highwoods Properties from $35.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, May 19th. Truist Financial lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research report on Wednesday, July 2nd. Finally, Wall Street Zen raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Trading Down 2.5%

NYSE HIW opened at $31.11 on Monday. The stock’s 50 day moving average price is $30.68 and its two-hundred day moving average price is $29.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 19.32 and a beta of 1.21. Highwoods Properties has a 52 week low of $24.19 and a 52 week high of $36.78.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.01. Highwoods Properties had a return on equity of 7.43% and a net margin of 21.53%. The firm had revenue of $200.38 million for the quarter, compared to analyst estimates of $201.31 million. During the same quarter in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. As a group, analysts anticipate that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Highwoods Properties

A number of hedge funds have recently made changes to their positions in HIW. Public Employees Retirement System of Ohio grew its position in shares of Highwoods Properties by 1.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 188,923 shares of the real estate investment trust’s stock valued at $5,874,000 after purchasing an additional 2,995 shares in the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Highwoods Properties by 1.0% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 72,184 shares of the real estate investment trust’s stock worth $2,244,000 after acquiring an additional 727 shares in the last quarter. Park Avenue Securities LLC lifted its position in Highwoods Properties by 16.2% during the 2nd quarter. Park Avenue Securities LLC now owns 8,396 shares of the real estate investment trust’s stock valued at $261,000 after acquiring an additional 1,173 shares during the period. Perpetual Ltd increased its holdings in shares of Highwoods Properties by 3.7% during the second quarter. Perpetual Ltd now owns 27,870 shares of the real estate investment trust’s stock valued at $866,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Highwoods Properties during the 2nd quarter valued at $300,000. 96.31% of the stock is currently owned by institutional investors.

About Highwoods Properties

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.