Highwoods Properties (NYSE:HIW) Sets New 52-Week High – Here’s Why

Highwoods Properties, Inc. (NYSE:HIW) hit a new 52-week high on Wednesday . The company traded as high as $33.07 and last traded at $32.8510, with a volume of 170033 shares changing hands. The stock had previously closed at $32.09.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HIW shares. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Monday, March 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $28.00 target price on shares of Highwoods Properties in a report on Thursday, May 14th. Morgan Stanley upgraded shares of Highwoods Properties from an “underweight” rating to an “equal weight” rating and decreased their price target for the stock from $24.00 to $23.00 in a research report on Tuesday, March 31st. Wells Fargo & Company upped their price target on Highwoods Properties from $24.00 to $26.00 and gave the company an “equal weight” rating in a report on Monday, June 1st. Finally, Weiss Ratings upgraded Highwoods Properties from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.11.

Highwoods Properties Trading Up 1.5%

The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.46. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 38.78 and a beta of 1.07. The company has a fifty day simple moving average of $28.35 and a 200-day simple moving average of $25.49.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.13. Highwoods Properties had a net margin of 11.64% and a return on equity of 3.97%. The business had revenue of $214.03 million for the quarter, compared to the consensus estimate of $209.06 million. During the same period last year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.400-3.68 EPS. On average, research analysts forecast that Highwoods Properties, Inc. will post 3.53 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Monday, May 18th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.1%. The ex-dividend date was Monday, May 18th. Highwoods Properties’s payout ratio is presently 238.10%.

Highwoods Properties declared that its board has authorized a stock repurchase program on Wednesday, April 22nd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HIW. Quantinno Capital Management LP lifted its position in Highwoods Properties by 133.8% in the 1st quarter. Quantinno Capital Management LP now owns 1,808,104 shares of the real estate investment trust’s stock worth $38,712,000 after buying an additional 1,034,694 shares in the last quarter. Norges Bank purchased a new position in shares of Highwoods Properties during the 4th quarter valued at $26,251,000. Bayhunt Capital LLC acquired a new position in shares of Highwoods Properties in the fourth quarter worth $13,125,000. Gotham Asset Management LLC increased its stake in shares of Highwoods Properties by 88.1% in the third quarter. Gotham Asset Management LLC now owns 910,271 shares of the real estate investment trust’s stock worth $28,965,000 after acquiring an additional 426,241 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Highwoods Properties by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 16,903,497 shares of the real estate investment trust’s stock worth $436,448,000 after acquiring an additional 407,406 shares in the last quarter. 96.31% of the stock is owned by institutional investors and hedge funds.

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.