Highwoods Properties (NYSE:HIW) Price Target Lowered to $24.00 at Citigroup

Highwoods Properties (NYSE:HIW) had its target price trimmed by Citigroup from $30.00 to $24.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

HIW has been the topic of several other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Highwoods Properties in a research report on Thursday, January 22nd. Morgan Stanley increased their target price on shares of Highwoods Properties from $23.00 to $24.00 and gave the stock an “underweight” rating in a report on Tuesday, October 21st. Wells Fargo & Company cut their price target on shares of Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Wall Street Zen upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday, January 6th. Three 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. Based on data from MarketBeat, Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $30.00.

Highwoods Properties Trading Up 0.8%

HIW stock opened at $23.14 on Wednesday. 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 has a twelve month low of $21.56 and a twelve month high of $32.76. The company has a market cap of $2.54 billion, a P/E ratio of 15.85 and a beta of 1.06. The business has a fifty day moving average of $25.78 and a 200-day moving average of $28.32.

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

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 8.6%. The ex-dividend date is Tuesday, February 17th. Highwoods Properties’s payout ratio is currently 136.99%.

Institutional Trading of Highwoods Properties

Hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Highwoods Properties by 88.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 372 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in Highwoods Properties by 921.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 858 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 774 shares in the last quarter. Beacon Financial Strategies CORP bought a new stake in shares of Highwoods Properties during the 4th quarter valued at $34,000. Avalon Trust Co acquired a new stake in shares of Highwoods Properties during the 3rd quarter worth $37,000. Finally, SJS Investment Consulting Inc. bought a new position in shares of Highwoods Properties in the third quarter worth $49,000. 96.31% of the stock is owned by institutional investors and hedge funds.

About Highwoods Properties

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.