Truist Financial Issues Pessimistic Forecast for Highwoods Properties (NYSE:HIW) Stock Price

Highwoods Properties (NYSE:HIW) had its price objective cut by Truist Financial from $33.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price objective points to a potential upside of 12.20% from the stock’s current price.

Several other research firms have also recently commented on HIW. Mizuho lifted their target price on shares of Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Jefferies Financial Group decreased their price target on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company upped their price target on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, Robert W. Baird increased their price target on Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Stock Down 1.8 %

HIW stock opened at $28.52 on Thursday. The stock’s 50 day moving average is $29.96 and its 200-day moving average is $31.64. Highwoods Properties has a twelve month low of $22.60 and a twelve month high of $36.78. The firm has a market capitalization of $3.02 billion, a PE ratio of 21.28 and a beta of 1.24. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. Sell-side analysts expect that Highwoods Properties will post 3.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Highwoods Properties

Large investors have recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in Highwoods Properties by 12.0% in the 4th quarter. Versant Capital Management Inc now owns 3,052 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 327 shares during the period. Assetmark Inc. boosted its stake in Highwoods Properties by 5.7% during the third quarter. Assetmark Inc. now owns 9,254 shares of the real estate investment trust’s stock valued at $310,000 after buying an additional 495 shares during the period. Presima Securities ULC grew its position in Highwoods Properties by 1.0% during the third quarter. Presima Securities ULC now owns 52,536 shares of the real estate investment trust’s stock worth $1,760,000 after buying an additional 500 shares in the last quarter. CWM LLC increased its stake in Highwoods Properties by 7.8% in the 3rd quarter. CWM LLC now owns 8,641 shares of the real estate investment trust’s stock worth $290,000 after acquiring an additional 624 shares during the last quarter. Finally, Everhart Financial Group Inc. increased its position in shares of Highwoods Properties by 6.0% in the fourth quarter. Everhart Financial Group Inc. now owns 11,719 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 660 shares during the last quarter. 96.31% of the stock is currently owned by institutional investors.

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.