Short Interest in Highwoods Properties, Inc. (NYSE:HIW) Declines By 5.8%

Highwoods Properties, Inc. (NYSE:HIWGet Free Report) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 4,570,000 shares, a drop of 5.8% from the February 29th total of 4,850,000 shares. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 3.4 days. Approximately 4.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Read Our Latest Stock Analysis on HIW

Highwoods Properties Stock Performance

Shares of NYSE:HIW opened at $24.59 on Wednesday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 17.69 and a beta of 1.23. The firm’s 50 day simple moving average is $24.04 and its 200 day simple moving average is $21.82. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.24 and a quick ratio of 1.24. Highwoods Properties has a fifty-two week low of $17.06 and a fifty-two week high of $26.27.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 20th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.13%. Highwoods Properties’s dividend payout ratio is 143.89%.

Institutional Trading of Highwoods Properties

A number of hedge funds have recently modified their holdings of the company. CENTRAL TRUST Co increased its stake in Highwoods Properties by 76.6% during the 3rd quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 475 shares in the last quarter. Quarry LP bought a new stake in Highwoods Properties during the 1st quarter worth approximately $27,000. KBC Group NV bought a new stake in Highwoods Properties during the 4th quarter worth approximately $30,000. International Assets Investment Management LLC bought a new stake in Highwoods Properties during the 4th quarter worth approximately $31,000. Finally, Planned Solutions Inc. bought a new stake in Highwoods Properties during the 4th quarter worth approximately $38,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

About Highwoods Properties

(Get Free Report)

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.

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