Stocks of Highwoods Properties Inc. (NYSE:HIW) traded higher last session on Wall Street, down -1.24% to $27.92.
According to the data, Highwoods Properties Inc. (NYSE:HIW) has 11 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $36.00 and a low of $27.00, we find $31.00. Given the previous closing price of $28.27, this indicates a potential upside of 9.66 percent. HIW stock price is now -1.80% away from the 50-day moving average and -16.60% away from the 200-day moving average. The market capitalization of the company currently stands at $2.85B.
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A total of 6 analysts have issued a hold rating and 5 have given it a buy rating. Brokers who have rated the stock have averaged $31.60 as their price target over the next twelve months.
With the price target maintained at $31, Robert W. Baird recently Downgraded its rating from Outperform to Neutral for Highwoods Properties Inc. (NYSE: HIW). On June 30, 2022, Jefferies Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock reducing its target price from $46 to quote $35, while ‘Credit Suisse’ rates the stock as ‘Neutral’.
In other news, Maiorana Brendan C, EVP, CFO bought 1,500 shares of the company’s stock on Sep 28. The stock was bought for $40,813 at an average price of $27.21. Upon completion of the transaction, the EVP, CFO now directly owns 39,254 shares in the company, valued at $1.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 22, EVP, General Counsel & Sec. Miller Jeffrey Douglas bought 1,000 shares of the business’s stock. A total of $28,253 was incurred on buying the stock at an average price of $28.25. This leaves the insider owning 116,482 shares of the company worth $3.25 million. Insiders disposed of 29,088 shares of company stock worth roughly $0.81 million over the past 1 year. A total of 0.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HIW stock. A new stake in Highwoods Properties Inc. shares was purchased by PEREGRINE CAPITAL MANAGEMENT LLC during the first quarter worth $10,244,000. MAKENA CAPITAL MANAGEMENT LLC invested $7,536,000 in shares of HIW during the first quarter. In the first quarter, UBS OCONNOR LLC acquired a new stake in Highwoods Properties Inc. valued at approximately $2,781,000. CIPHER CAPITAL LP acquired a new stake in HIW for approximately $2,592,000. QUBE RESEARCH & TECHNOLOGIES LTD purchased a new stake in HIW valued at around $2,560,000 in the second quarter. In total, there are 453 active investors with 99.20% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $28.26 for Highwoods Properties Inc. (NYSE: HIW). During the past 12 months, Highwoods Properties Inc. has had a low of $24.51 and a high of $47.44. The fifty day moving average price for HIW is $28.43 and a two-hundred day moving average price translates $33.40 for the stock.
The latest earnings results from Highwoods Properties Inc. (NYSE: HIW) was released for Sep, 2022. According to the REIT – Office Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.32 by 0.04. This compares to $0.69 EPS in the same period last year. The net profit margin was 31.00% and return on equity was 10.30% for HIW. The company reported revenue of $207.0 million for the quarter, compared to $195.5 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.88 percent. For the current quarter, analysts expect HIW to generate $207.93M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/13/2022. Investors who held shares on 11/21/2022 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 7.16% percent yield. There was an ex-dividend date of 11/18/2022 for this dividend. In terms of dividend payout ratio, HIW is presently at 82.60%.
Highwoods Properties Inc.(HIW) Company Profile
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.
