Highwoods Properties (NYSE:HIW) Price Target Raised to $32.00

Highwoods Properties (NYSE:HIW) had its price objective lifted by Wells Fargo & Company from $26.00 to $32.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the real estate investment trust’s stock.

A number of other research firms have also weighed in on HIW. Weiss Ratings raised shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Mizuho raised their target price on shares of Highwoods Properties from $25.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Morgan Stanley lifted their target price on shares of Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft downgraded Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Wednesday, August 5th. Finally, Citigroup raised their price objective on Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.33.

Highwoods Properties Trading Up 0.8%

Highwoods Properties stock opened at $31.10 on Tuesday. The stock has a market cap of $3.43 billion, a PE ratio of 20.46 and a beta of 1.05. The stock has a 50-day moving average price of $31.88 and a 200 day moving average price of $27.07. Highwoods Properties has a 52 week low of $20.45 and a 52 week high of $35.44. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.01). Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The firm had revenue of $216.38 million during the quarter, compared to analysts’ expectations of $212.15 million. During the same quarter last year, the company posted $0.89 earnings per share. Highwoods Properties’s revenue for the quarter was up 7.9% on a year-over-year basis. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. Equities research analysts predict that Highwoods Properties will post 3.54 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, August 17th. This represents a $2.00 annualized dividend and a yield of 6.4%. Highwoods Properties’s dividend payout ratio is currently 131.58%.

Hedge Funds Weigh In On Highwoods Properties

Several hedge funds and other institutional investors have recently modified their holdings of HIW. Caitong International Asset Management Co. Ltd grew its holdings in shares of Highwoods Properties by 88.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 372 shares during the period. Elevation Wealth Partners LLC raised its holdings in Highwoods Properties by 752.0% in the second quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 940 shares during the period. Allworth Financial LP purchased a new position in Highwoods Properties in the second quarter valued at approximately $38,000. Geneos Wealth Management Inc. lifted its position in Highwoods Properties by 292.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,252 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Highwoods Properties by 285.8% during the fourth quarter. Farther Finance Advisors LLC now owns 1,983 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,469 shares in the last quarter. 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.