Highwoods Properties (NYSE:HIW) Price Target Raised to $21.00

Highwoods Properties (NYSE:HIW) had its price target upped by equities research analysts at Morgan Stanley from $18.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective points to a potential downside of 19.35% from the company’s current price.

Several other research analysts have also issued reports on HIW. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They issued a “buy” rating and a $28.00 price target for the company. Truist Financial increased their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. Finally, Robert W. Baird raised their price objective on shares of Highwoods Properties from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.38.

Highwoods Properties Trading Up 0.4 %

Shares of NYSE:HIW traded up $0.11 on Thursday, hitting $26.04. The company had a trading volume of 36,624 shares, compared to its average volume of 1,382,603. The firm’s 50-day simple moving average is $23.80 and its two-hundred day simple moving average is $21.76. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $26.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 18.77 and a beta of 1.23.

Hedge Funds Weigh In On Highwoods Properties

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PGGM Investments acquired a new stake in Highwoods Properties in the 4th quarter valued at $46,833,000. Franklin Resources Inc. increased its position in shares of Highwoods Properties by 42.0% in the 4th quarter. Franklin Resources Inc. now owns 4,614,624 shares of the real estate investment trust’s stock valued at $105,952,000 after purchasing an additional 1,364,176 shares during the last quarter. Norges Bank purchased a new position in shares of Highwoods Properties in the 4th quarter valued at $33,512,000. Vanguard Group Inc. grew its position in shares of Highwoods Properties by 7.0% in the 3rd quarter. Vanguard Group Inc. now owns 17,371,014 shares of the real estate investment trust’s stock valued at $358,017,000 after buying an additional 1,139,688 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Highwoods Properties by 4,897.7% in the 1st quarter. Balyasny Asset Management L.P. now owns 843,120 shares of the real estate investment trust’s stock valued at $19,552,000 after buying an additional 826,250 shares during the last quarter. 96.31% of the stock is owned by hedge funds and other 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.