Highwoods Properties (NYSE:HIW) Rating Lowered to Sell at Wall Street Zen

Highwoods Properties (NYSE:HIW) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research analysts have also weighed in on the company. Truist Financial lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research report on Wednesday, July 2nd. Mizuho lifted their price objective on Highwoods Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company lowered 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $32.00.

Highwoods Properties Stock Down 1.2%

Shares of NYSE:HIW opened at $29.30 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 24.62 and a beta of 1.21. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. Highwoods Properties has a 12-month low of $24.18 and a 12-month high of $36.78. The business has a fifty day simple moving average of $30.53 and a 200 day simple moving average of $29.42.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 29th. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.04. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%. The business had revenue of $200.60 million during the quarter, compared to analyst estimates of $203.22 million. During the same period last year, the company earned $0.98 EPS. Highwoods Properties’s revenue for the quarter was down 2.0% compared to the same quarter last year. Analysts predict that Highwoods Properties will post 3.36 earnings per share for the current year.

Institutional Trading of Highwoods Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Highwoods Properties by 3.4% in the 1st quarter. Cerity Partners LLC now owns 17,106 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 560 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Highwoods Properties by 31.2% during the 4th quarter. Two Sigma Advisers LP now owns 86,200 shares of the real estate investment trust’s stock worth $2,636,000 after purchasing an additional 20,500 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Highwoods Properties by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 534,155 shares of the real estate investment trust’s stock worth $15,832,000 after purchasing an additional 20,458 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Highwoods Properties by 53.9% during the 4th quarter. Nuveen Asset Management LLC now owns 315,662 shares of the real estate investment trust’s stock worth $9,653,000 after purchasing an additional 110,571 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Highwoods Properties by 35.7% during the 1st quarter. Teacher Retirement System of Texas now owns 28,920 shares of the real estate investment trust’s stock worth $857,000 after purchasing an additional 7,601 shares in the last quarter. 96.31% of the stock is owned by institutional investors.

Highwoods Properties Company Profile

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.