Zacks Investment Research upgraded shares of Highwoods Properties (NYSE:HIW) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Shares of Highwoods have underperformed its industry in the past six months. Nonetheless, the Zacks Consensus Estimate for first-quarter 2018 funds from operations (FFO) per share was revised upward in a month’s time. The company’s efforts to fortify its high-quality office asset portfolio in best business districts (BBDs) have the capability to drive long-term growth. Further, it remains focused on enhancing portfolio quality through key acquisitions in thriving markets. However, significant exposure to office assets amid rising supply as well as persistent space efficiency trends and stiff competition are concerns. Moreover, the company’s assets are concentrated in a few markets which make it vulnerable to the economic and political doldrums prevalent in the area.”
A number of other equities research analysts have also issued reports on the company. ValuEngine lowered Highwoods Properties from a buy rating to a hold rating in a research report on Friday, February 2nd. Stifel Nicolaus dropped their target price on Highwoods Properties from $55.00 to $50.00 and set a buy rating on the stock in a research report on Thursday, February 8th. Finally, SunTrust Banks set a $51.00 target price on Highwoods Properties and gave the company a hold rating in a research report on Monday, January 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $51.67.
Shares of Highwoods Properties (NYSE:HIW) opened at $43.35 on Tuesday. Highwoods Properties has a 1 year low of $41.83 and a 1 year high of $53.34. The stock has a market capitalization of $4,509.38, a P/E ratio of 12.84, a P/E/G ratio of 4.32 and a beta of 0.80. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.40.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.83 by ($0.28). Highwoods Properties had a net margin of 26.20% and a return on equity of 8.46%. The firm had revenue of $175.86 million during the quarter, compared to analyst estimates of $177.14 million. equities analysts expect that Highwoods Properties will post 3.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date was Friday, February 16th. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. Highwoods Properties’s dividend payout ratio (DPR) is currently 104.52%.
Large investors have recently bought and sold shares of the business. Aurora Investment Counsel acquired a new position in shares of Highwoods Properties during the 4th quarter worth approximately $2,069,000. Legal & General Group Plc increased its position in shares of Highwoods Properties by 9.7% during the 3rd quarter. Legal & General Group Plc now owns 371,232 shares of the real estate investment trust’s stock worth $19,338,000 after purchasing an additional 32,695 shares during the last quarter. Bank of Montreal Can increased its position in shares of Highwoods Properties by 1.2% during the 4th quarter. Bank of Montreal Can now owns 784,753 shares of the real estate investment trust’s stock worth $39,951,000 after purchasing an additional 9,120 shares during the last quarter. New Mexico Educational Retirement Board increased its position in shares of Highwoods Properties by 80.9% during the 4th quarter. New Mexico Educational Retirement Board now owns 25,535 shares of the real estate investment trust’s stock worth $1,300,000 after purchasing an additional 11,422 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Highwoods Properties by 3.6% during the 3rd quarter. New York State Common Retirement Fund now owns 227,700 shares of the real estate investment trust’s stock worth $11,861,000 after purchasing an additional 8,000 shares during the last quarter. 96.54% of the stock is currently owned by hedge funds and other institutional investors.
Highwoods Properties Company Profile
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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