Highwoods Properties (NYSE:HIW) Stock Price Breaks Above 50-Day Moving Average – Time to Sell?

Shares of Highwoods Properties, Inc. (NYSE:HIW) passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $30.18 and traded as high as $30.50. Highwoods Properties shares last traded at $30.4070, with a volume of 1,400,962 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HIW. Citigroup lifted their price target on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Highwoods Properties in a research report on Thursday. Mizuho set a $32.00 price objective on Highwoods Properties in a research note on Tuesday, September 8th. Huntington Sec started coverage on Highwoods Properties in a research report on Wednesday. They issued a “hold” rating on the stock. Finally, Huntington started coverage on Highwoods Properties in a research report on Thursday, October 8th. They issued a “market perform” rating and a $31.00 target price on the stock. Nine analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Highwoods Properties Price Performance

The business has a 50-day moving average of $30.17 and a two-hundred day moving average of $27.52. The company has a current ratio of 2.08, a quick ratio of 1.68 and a debt-to-equity ratio of 1.38. The firm has a market cap of $3.42 billion, a P/E ratio of 18.32 and a beta of 1.06.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 27th. The real estate investment trust reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08. Highwoods Properties had a return on equity of 7.68% and a net margin of 22.56%. The firm had revenue of $218.18 million during the quarter, compared to the consensus estimate of $216.39 million. During the same period last year, the company earned $0.86 earnings per share. The business’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts anticipate that Highwoods Properties, Inc. will post 3.58 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, November 16th. This represents a $2.00 annualized dividend and a yield of 6.5%. Highwoods Properties’s dividend payout ratio (DPR) is currently 118.34%.

Hedge Funds Weigh In On Highwoods Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pension & Wealth Management Advisors Inc. acquired a new position in Highwoods Properties in the third quarter valued at approximately $28,000. Elevation Wealth Partners LLC increased its stake in shares of Highwoods Properties by 752.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 1,065 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 940 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Highwoods Properties in the 2nd quarter valued at $34,000. Allworth Financial LP acquired a new position in shares of Highwoods Properties during the 2nd quarter valued at $38,000. Finally, Nykredit A S acquired a new position in shares of Highwoods Properties during the 2nd quarter valued at $66,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

About Highwoods Properties

Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.