Wells Fargo & Company Lowers Highwoods Properties (NYSE:HIW) Price Target to $31.00

Highwoods Properties (NYSE:HIW) had its price target lowered by Wells Fargo & Company from $35.00 to $31.00 in a report issued on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

A number of other analysts have also weighed in on HIW. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They set a “buy” rating and a $32.00 price objective for the company. StockNews.com upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Truist Financial reduced their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.83.

Highwoods Properties Stock Down 3.0%

NYSE:HIW opened at $29.10 on Monday. The firm has a market cap of $3.14 billion, a P/E ratio of 30.63 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. Highwoods Properties has a fifty-two week low of $24.07 and a fifty-two week high of $36.78. The firm has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $29.67.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $200.38 million during the quarter, compared to analyst estimates of $201.31 million. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Highwoods Properties’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. Analysts predict that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a $0.50 dividend. The ex-dividend date is Monday, May 19th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.87%. Highwoods Properties’s dividend payout ratio is presently 124.22%.

Institutional Trading of Highwoods Properties

A number of large investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in Highwoods Properties by 5.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,105 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 383 shares during the period. Nissay Asset Management Corp Japan ADV grew its position in Highwoods Properties by 2.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,397 shares of the real estate investment trust’s stock valued at $456,000 after buying an additional 396 shares during the period. GAMMA Investing LLC grew its position in Highwoods Properties by 10.3% during the first quarter. GAMMA Investing LLC now owns 5,278 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 493 shares during the period. PNC Financial Services Group Inc. grew its position in Highwoods Properties by 7.7% during the first quarter. PNC Financial Services Group Inc. now owns 6,908 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 496 shares during the period. Finally, US Bancorp DE grew its position in Highwoods Properties by 2.5% during the first quarter. US Bancorp DE now owns 22,514 shares of the real estate investment trust’s stock valued at $667,000 after buying an additional 558 shares during the period. 96.31% of the stock is currently owned by institutional investors.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (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.