Highwoods Properties (NYSE:HIW) Given New $23.00 Price Target at Truist Financial

Highwoods Properties (NYSE:HIW) had its target price lowered by Truist Financial from $29.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on HIW. Wall Street Zen downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reiterated a “hold (c)” rating on shares of Highwoods Properties in a research note on Thursday, January 22nd. Mizuho lowered their price objective on shares of Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Robert W. Baird set a $29.00 target price on Highwoods Properties in a report on Wednesday, February 25th. Finally, Citigroup decreased their target price on shares of Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.78.

Highwoods Properties Stock Performance

Highwoods Properties stock opened at $21.80 on Tuesday. The company has a market capitalization of $2.40 billion, a PE ratio of 14.93 and a beta of 1.07. Highwoods Properties has a twelve month low of $21.18 and a twelve month high of $32.76. The firm has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $27.38. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.51.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, February 10th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.58). The firm had revenue of $203.36 million for the quarter, compared to analysts’ expectations of $208.08 million. Highwoods Properties had a net margin of 20.10% and a return on equity of 6.86%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 EPS. Highwoods Properties has set its FY 2026 guidance at 3.400-3.680 EPS. Research analysts expect that Highwoods Properties will post 3.36 EPS for the current year.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Tuesday, February 17th. Highwoods Properties’s dividend payout ratio is currently 136.99%.

Hedge Funds Weigh In On Highwoods Properties

Several institutional investors have recently bought and sold shares of HIW. Vanguard Group Inc. increased its stake in Highwoods Properties by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 16,903,497 shares of the real estate investment trust’s stock valued at $436,448,000 after purchasing an additional 407,406 shares in the last quarter. State Street Corp increased its holdings in Highwoods Properties by 1.2% in the fourth quarter. State Street Corp now owns 6,699,130 shares of the real estate investment trust’s stock valued at $172,972,000 after buying an additional 81,348 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Highwoods Properties by 3.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,302,750 shares of the real estate investment trust’s stock valued at $200,554,000 after purchasing an additional 205,761 shares in the last quarter. Aew Capital Management L P raised its stake in shares of Highwoods Properties by 3.8% during the 4th quarter. Aew Capital Management L P now owns 2,433,243 shares of the real estate investment trust’s stock worth $62,826,000 after buying an additional 88,672 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in Highwoods Properties by 0.7% during the third quarter. Daiwa Securities Group Inc. now owns 2,205,348 shares of the real estate investment trust’s stock worth $70,174,000 after acquiring an additional 14,410 shares during the period. 96.31% of the stock is owned by hedge funds and other institutional investors.

Highwoods Properties Company Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.