Highwoods Properties (NYSE:HIW) has been given a $51.00 price objective by SunTrust Banks in a report issued on Monday, January 22nd. The firm currently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks’ price objective suggests a potential upside of 19.13% from the company’s previous close. SunTrust Banks also issued estimates for Highwoods Properties’ FY2018 earnings at $3.48 EPS.
HIW has been the subject of several other reports. Bank of America raised their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. ValuEngine upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.50.
Highwoods Properties (NYSE:HIW) traded down $0.28 during trading on Monday, hitting $42.81. 797,330 shares of the stock traded hands, compared to its average volume of 771,207. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $4,450.51, a P/E ratio of 24.34, a P/E/G ratio of 4.24 and a beta of 0.74. Highwoods Properties has a 1-year low of $41.83 and a 1-year high of $53.34.
In other news, Director Sherry A. Kellett sold 1,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $51.70, for a total value of $51,700.00. Following the sale, the director now owns 11,744 shares in the company, valued at approximately $607,164.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherry A. Kellett sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the transaction, the director now owns 13,744 shares in the company, valued at approximately $695,996.16. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in HIW. Aurora Investment Counsel bought a new stake in shares of Highwoods Properties in the 4th quarter valued at about $2,069,000. Westpac Banking Corp increased its stake in Highwoods Properties by 7.0% during the 3rd quarter. Westpac Banking Corp now owns 53,780 shares of the real estate investment trust’s stock worth $2,801,000 after purchasing an additional 3,500 shares in the last quarter. Legal & General Group Plc increased its stake in 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 in the last quarter. Bank of Montreal Can increased its stake in 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 in the last quarter. Finally, Honeywell International Inc. increased its stake in Highwoods Properties by 17.4% during the 3rd quarter. Honeywell International Inc. now owns 47,142 shares of the real estate investment trust’s stock worth $2,456,000 after purchasing an additional 6,992 shares in the last quarter. Institutional investors own 96.21% of the company’s stock.
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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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