Shares of Highwoods Properties Inc (NYSE:HIW) have received an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $53.67.
A number of equities analysts recently issued reports on the company. ValuEngine cut Highwoods Properties from a “hold” rating to a “sell” rating in a report on Friday, June 15th. Zacks Investment Research upgraded Highwoods Properties from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Monday, June 18th. Wood & Company reiterated a “sell” rating on shares of Highwoods Properties in a report on Friday, August 10th. Stifel Nicolaus upgraded Highwoods Properties from a “hold” rating to a “buy” rating and lifted their price target for the company from $46.00 to $53.00 in a report on Friday, June 1st. Finally, Wells Fargo & Co lifted their price target on Highwoods Properties from $49.00 to $54.00 and gave the company an “outperform” rating in a report on Tuesday, June 19th.
Shares of NYSE HIW traded down $0.10 during mid-day trading on Friday, reaching $48.00. The company had a trading volume of 753,126 shares, compared to its average volume of 546,761. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 4.74 and a beta of 0.73. Highwoods Properties has a 1-year low of $41.34 and a 1-year high of $53.34.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 5th. Stockholders of record on Monday, August 13th were issued a dividend of $0.4625 per share. The ex-dividend date was Friday, August 10th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.85%. Highwoods Properties’s dividend payout ratio is 56.40%.
In related news, CFO Mark F. Mulhern sold 14,141 shares of Highwoods Properties stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $49.96, for a total transaction of $706,484.36. Following the completion of the sale, the chief financial officer now owns 81,780 shares of the company’s stock, valued at $4,085,728.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Douglas Miller sold 3,676 shares of Highwoods Properties stock in a transaction on Friday, June 29th. The shares were sold at an average price of $50.87, for a total value of $186,998.12. Following the sale, the executive vice president now directly owns 83,438 shares of the company’s stock, valued at approximately $4,244,491.06. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIW. BlackRock Inc. boosted its position in Highwoods Properties by 10.0% during the second quarter. BlackRock Inc. now owns 14,265,472 shares of the real estate investment trust’s stock valued at $723,688,000 after purchasing an additional 1,301,682 shares during the last quarter. Bank of Montreal Can acquired a new stake in Highwoods Properties during the second quarter valued at $43,133,000. Nuveen Asset Management LLC boosted its position in Highwoods Properties by 57.4% during the first quarter. Nuveen Asset Management LLC now owns 1,736,270 shares of the real estate investment trust’s stock valued at $76,083,000 after purchasing an additional 632,897 shares during the last quarter. Heitman Real Estate Securities LLC acquired a new stake in Highwoods Properties during the first quarter valued at $27,057,000. Finally, American Century Companies Inc. acquired a new stake in Highwoods Properties during the second quarter valued at $28,443,000. 92.42% of the stock is owned by hedge funds and other institutional investors.
Highwoods Properties 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 fullyintegrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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