Highwoods Properties (NYSE:HIW) Reaches New 1-Year High at $26.69

Highwoods Properties, Inc. (NYSE:HIW) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $26.69 and last traded at $26.60, with a volume of 370026 shares trading hands. The stock had previously closed at $25.89.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Highwoods Properties in a research note on Tuesday, January 30th. They issued a “buy” rating and a $28.00 price objective on the stock. Robert W. Baird boosted their price objective on Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Morgan Stanley raised their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, March 28th. Finally, Truist Financial raised their price target on Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.38.

Highwoods Properties Price Performance

The company has a market capitalization of $2.82 billion, a PE ratio of 21.62 and a beta of 1.23. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average is $24.84 and its 200-day moving average is $22.49.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, May 17th. This represents a $2.00 annualized dividend and a yield of 7.51%. Highwoods Properties’s payout ratio is presently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

A number of institutional investors have recently modified their holdings of HIW. Vanguard Group Inc. raised its holdings in shares of Highwoods Properties by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock valued at $358,017,000 after buying an additional 1,139,688 shares during the period. Franklin Resources Inc. raised its position in shares of Highwoods Properties by 42.0% during the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock worth $105,952,000 after acquiring an additional 1,364,176 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Highwoods Properties by 0.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,328,382 shares of the real estate investment trust’s stock worth $53,459,000 after acquiring an additional 9,397 shares in the last quarter. PGGM Investments purchased a new position in Highwoods Properties during the 4th quarter worth $46,833,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Highwoods Properties by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,898,083 shares of the real estate investment trust’s stock valued at $43,580,000 after buying an additional 124,577 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

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.