Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties (NYSE:HIW – Free Report) from a buy rating to a hold rating in a report released on Wednesday morning, Marketbeat reports. The brokerage currently has $33.00 price target on the real estate investment trust’s stock.
A number of other research analysts also recently commented on HIW. Citigroup boosted their target price on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price target on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Truist Financial lifted their price target on Highwoods Properties from $23.00 to $30.00 and gave the company a “hold” rating in a report on Friday, June 26th. Mizuho boosted their price target on Highwoods Properties from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.67.
Check Out Our Latest Stock Analysis on HIW
Highwoods Properties Stock Performance
Highwoods Properties (NYSE:HIW – Get Free Report) last released its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.01). Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business had revenue of $216.38 million for the quarter, compared to analysts’ expectations of $212.15 million. During the same period last year, the firm earned $0.89 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. Highwoods Properties has set its FY 2026 guidance at 3.460-3.700 EPS. On average, sell-side analysts anticipate that Highwoods Properties will post 3.53 EPS for the current fiscal year.
Highwoods Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Monday, August 17th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Monday, August 17th. Highwoods Properties’s payout ratio is 131.58%.
Highwoods Properties announced that its board has authorized a share buyback plan on Wednesday, April 22nd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 9.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
Institutional Investors Weigh In On Highwoods Properties
Several large investors have recently modified their holdings of HIW. Caitong International Asset Management Co. Ltd increased its stake in shares of Highwoods Properties by 88.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 792 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 372 shares during the period. California State Teachers Retirement System lifted its holdings in Highwoods Properties by 0.5% during the 2nd quarter. California State Teachers Retirement System now owns 98,051 shares of the real estate investment trust’s stock worth $3,048,000 after purchasing an additional 489 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Highwoods Properties by 3.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 19,896 shares of the real estate investment trust’s stock valued at $514,000 after purchasing an additional 572 shares during the period. Maryland State Retirement & Pension System boosted its stake in Highwoods Properties by 3.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 22,218 shares of the real estate investment trust’s stock valued at $574,000 after purchasing an additional 720 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Highwoods Properties by 33.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,159 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 797 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors.
Highwoods Properties Company Profile
Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.
Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.
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