Highwoods Properties (NYSE:HIW) Sets New 12-Month Low at $29.07

Highwoods Properties, Inc. (NYSE:HIWGet Rating)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $29.07 and last traded at $29.40, with a volume of 43254 shares trading hands. The stock had previously closed at $29.66.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TheStreet lowered shares of Highwoods Properties from a “b-” rating to a “c+” rating in a research report on Friday, June 17th. Wells Fargo & Company decreased their price target on shares of Highwoods Properties from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 30th. Morgan Stanley decreased their price target on shares of Highwoods Properties from $36.00 to $34.00 and set an “overweight” rating on the stock in a research note on Friday, September 9th. Truist Financial reduced their target price on shares of Highwoods Properties from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, September 14th. Finally, StockNews.com downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, August 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.57.

Highwoods Properties Trading Down 1.4 %

The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.35 and a current ratio of 1.35. The business has a 50-day simple moving average of $32.62 and a two-hundred day simple moving average of $37.38. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 10.40 and a beta of 1.10.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Stockholders of record on Monday, August 22nd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 7.04%. The ex-dividend date of this dividend was Friday, August 19th. Highwoods Properties’s payout ratio is presently 73.26%.

Institutional Investors Weigh In On Highwoods Properties

Several large investors have recently made changes to their positions in HIW. Amundi raised its stake in Highwoods Properties by 29.8% in the 2nd quarter. Amundi now owns 84,346 shares of the real estate investment trust’s stock valued at $2,787,000 after acquiring an additional 19,352 shares during the period. Captrust Financial Advisors bought a new position in Highwoods Properties during the 2nd quarter worth $467,000. Legal & General Group Plc increased its position in Highwoods Properties by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 818,099 shares of the real estate investment trust’s stock worth $27,971,000 after buying an additional 36,150 shares during the period. ExodusPoint Capital Management LP grew its holdings in shares of Highwoods Properties by 1,576.4% during the 2nd quarter. ExodusPoint Capital Management LP now owns 160,532 shares of the real estate investment trust’s stock worth $5,489,000 after purchasing an additional 150,956 shares in the last quarter. Finally, Neo Ivy Capital Management grew its holdings in shares of Highwoods Properties by 409.7% during the 2nd quarter. Neo Ivy Capital Management now owns 2,314 shares of the real estate investment trust’s stock worth $79,000 after purchasing an additional 1,860 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Highwoods Properties

(Get Rating)

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

Further Reading

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