Highwoods Properties (NYSE:HIW) Shares Gap Down – What’s Next?

Highwoods Properties, Inc. (NYSE:HIW) gapped down prior to trading on Monday . The stock had previously closed at $31.66, but opened at $31.00. Highwoods Properties shares last traded at $31.22, with a volume of 53,148 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of Highwoods Properties from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial upped their price target on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and increased their target price for the stock from $31.00 to $35.00 in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.20.

Highwoods Properties Price Performance

The firm has a 50-day moving average of $33.50 and a 200 day moving average of $30.05. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $3.34 billion, a PE ratio of 23.48 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). The company had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $204.96 million. Highwoods Properties had a net margin of 17.40% and a return on equity of 6.05%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. As a group, research analysts anticipate that Highwoods Properties, Inc. will post 3.62 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.36%. Highwoods Properties’s dividend payout ratio (DPR) is currently 149.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HIW. Quent Capital LLC increased its position in shares of Highwoods Properties by 12.3% during the 1st quarter. Quent Capital LLC now owns 5,304 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 583 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Highwoods Properties by 2.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 94,187 shares of the real estate investment trust’s stock valued at $2,466,000 after acquiring an additional 2,275 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Highwoods Properties by 5.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 233,864 shares of the real estate investment trust’s stock worth $6,125,000 after purchasing an additional 13,082 shares in the last quarter. BOKF NA raised its holdings in Highwoods Properties by 86.5% in the 1st quarter. BOKF NA now owns 61,432 shares of the real estate investment trust’s stock worth $1,540,000 after purchasing an additional 28,493 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Highwoods Properties by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,081 shares of the real estate investment trust’s stock valued at $1,495,000 after purchasing an additional 3,229 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.

Highwoods Properties Company Profile

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.