Highwoods Properties (NYSE:HIW) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Highwoods Properties (NYSE:HIW) from a neutral rating to an outperform rating in a research report report published on Wednesday morning, Price Targets.com reports. Robert W. Baird currently has $53.00 target price on the real estate investment trust’s stock, up from their previous target price of $50.00.

A number of other equities research analysts have also recently commented on HIW. Zacks Investment Research cut shares of Highwoods Properties from a buy rating to a hold rating and set a $47.00 price target on the stock. in a report on Friday, December 10th. Morgan Stanley lifted their price target on shares of Highwoods Properties from $49.00 to $52.00 and gave the stock an overweight rating in a report on Tuesday, December 14th. Finally, Jefferies Financial Group raised shares of Highwoods Properties from a hold rating to a buy rating and lifted their price target for the stock from $44.00 to $54.00 in a report on Monday, January 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $50.20.

Highwoods Properties stock opened at $47.29 on Wednesday. Highwoods Properties has a 52 week low of $37.01 and a 52 week high of $48.98. The company’s 50 day moving average price is $45.16 and its two-hundred day moving average price is $45.56. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.24. The stock has a market cap of $4.94 billion, a P/E ratio of 18.40, a P/E/G ratio of 3.15 and a beta of 1.13.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 26th. The real estate investment trust reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.24). Highwoods Properties had a return on equity of 11.52% and a net margin of 36.24%. The firm had revenue of $195.50 million for the quarter, compared to the consensus estimate of $193.70 million. During the same period in the prior year, the business earned $0.86 EPS. Highwoods Properties’s quarterly revenue was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Highwoods Properties will post 3.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 7th. Investors of record on Monday, November 15th were paid a $0.50 dividend. The ex-dividend date was Friday, November 12th. This represents a $2.00 dividend on an annualized basis and a yield of 4.23%. Highwoods Properties’s dividend payout ratio is 77.82%.

In related news, CFO Mark F. Mulhern sold 16,154 shares of Highwoods Properties stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $47.11, for a total value of $761,014.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its position in shares of Highwoods Properties by 87.1% during the 4th quarter. State of Alaska Department of Revenue now owns 140,433 shares of the real estate investment trust’s stock valued at $6,259,000 after purchasing an additional 65,372 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Highwoods Properties by 18.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,670 shares of the real estate investment trust’s stock worth $431,000 after acquiring an additional 1,510 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Highwoods Properties in the third quarter worth $5,386,000. Janus Henderson Group PLC purchased a new position in Highwoods Properties in the third quarter worth $460,000. Finally, Jane Street Group LLC grew its position in Highwoods Properties by 133.7% in the third quarter. Jane Street Group LLC now owns 13,487 shares of the real estate investment trust’s stock worth $592,000 after acquiring an additional 7,716 shares in the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.

Highwoods Properties Company Profile

Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Charlotte, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.

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