Highwoods Properties (NYSE:HIW) Hits New 1-Year High at $26.35

Highwoods Properties, Inc. (NYSE:HIW) shares reached a new 52-week high during trading on Friday . The stock traded as high as $26.35 and last traded at $26.28, with a volume of 329267 shares traded. The stock had previously closed at $25.60.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HIW shares. Robert W. Baird raised their price target on Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They set a “buy” rating and a $28.00 price target for the company. Truist Financial increased their price objective on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley boosted their target price on Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Highwoods Properties has a consensus rating of “Hold” and an average target price of $24.38.

Highwoods Properties Price Performance

The firm has a market cap of $2.72 billion, a PE ratio of 21.06 and a beta of 1.23. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.37. The stock has a 50 day moving average price of $24.69 and a two-hundred day moving average price of $22.33.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a yield of 7.79%. Highwoods Properties’s dividend payout ratio is currently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Mexico Educational Retirement Board acquired a new position in Highwoods Properties during the first quarter valued at $564,000. Fifth Third Bancorp raised its stake in shares of Highwoods Properties by 4.1% during the 1st quarter. Fifth Third Bancorp now owns 10,390 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 409 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Highwoods Properties by 245.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,975 shares of the real estate investment trust’s stock valued at $11,283,000 after buying an additional 306,265 shares during the period. Oak Thistle LLC lifted its holdings in shares of Highwoods Properties by 28.2% in the 1st quarter. Oak Thistle LLC now owns 13,701 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 3,012 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Highwoods Properties in the first quarter worth about $34,000. Institutional investors and hedge funds own 96.31% of the company’s stock.

About Highwoods Properties

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.