Stocks of Highwoods Properties Inc. (NYSE:HIW) traded higher last session on Wall Street, unchanged to $25.30.
According to the data, Highwoods Properties Inc. (NYSE:HIW) has 10 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 $35.00 and a low of $22.00, we find $25.00. Given the previous closing price of $25.30, this indicates a potential downside of -1.19 percent. HIW stock price is now 14.26% away from the 50-day moving average and -1.42% away from the 200-day moving average. The market capitalization of the company currently stands at $2.60B.
A total of 6 analysts have issued a hold rating and 4 have given it a buy rating. Brokers who have rated the stock have averaged $26.67 as their price target over the next twelve months.
With the price target reduced from $29 to $26, Morgan Stanley Downgraded its rating from Overweight to Equal-Weight for Highwoods Properties Inc. (NYSE: HIW).
In other news, Klinck Theodore J, President and CEO bought 5,000 shares of the company’s stock on Mar 23. The stock was bought for $99,065 at an average price of $19.81. Upon completion of the transaction, the President and CEO now directly owns 337,177 shares in the company, valued at $8.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 28, EVP, CFO Maiorana Brendan C bought 1,500 shares of the business’s stock. A total of $40,813 was incurred on buying the stock at an average price of $27.21. This leaves the insider owning 39,254 shares of the company worth $0.99 million. Insiders disposed of 30,501 shares of company stock worth roughly $0.77 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 HEITMAN REAL ESTATE SECURITIES LLC during the first quarter worth $16,656,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC invested $12,018,000 in shares of HIW during the first quarter. In the first quarter, MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. acquired a new stake in Highwoods Properties Inc. valued at approximately $8,619,000. KEMNAY ADVISORY SERVICES INC. acquired a new stake in HIW for approximately $7,046,000. JANE STREET GROUP, LLC purchased a new stake in HIW valued at around $5,898,000 in the second quarter. In total, there are 443 active investors with 99.20% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $25.75 for Highwoods Properties Inc. (NYSE: HIW). During the past 12 months, Highwoods Properties Inc. has had a low of $19.45 and a high of $35.78. According to the stock market information, the enterprise value for the company is $5.95B, which is based on a 16.62 price-to-earnings ratio, a 2.08 price-to-earnings-growth ratio, and a beta of 1.16. The fifty day moving average price for HIW is $22.19 and a two-hundred day moving average price translates $25.65 for the stock.
The latest earnings results from Highwoods Properties Inc. (NYSE: HIW) was released for Mar, 2023. According to the REIT – Office Company, earnings per share came in at $0.42, beating analysts’ expectations of $0.23 by 0.19. This compares to $0.38 EPS in the same period last year. The net profit margin was 19.20% and return on equity was 6.50% for HIW. The company reported revenue of $212.75 million for the quarter, compared to $206.38 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.09 percent. For the current quarter, analysts expect HIW to generate $210.92M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/13/2023. Investors who held shares on 05/22/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 7.91% percent yield. There was an ex-dividend date of 05/19/2023 for this dividend. In terms of dividend payout ratio, HIW is presently at 131.40%.
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. The Company is a fully-integrated office 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.
