Truist Financial Lowers Highwoods Properties (NYSE:HIW) Price Target to $32.00

Highwoods Properties (NYSE:HIW) had its price target lowered by research analysts at Truist Financial from $33.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s target price would indicate a potential upside of 12.20% from the stock’s current price.

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

Highwoods Properties Price Performance

Shares of Highwoods Properties stock opened at $28.52 on Thursday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 21.28 and a beta of 1.24. The company has a fifty day moving average of $29.96 and a 200-day moving average of $31.64. Highwoods Properties has a 52-week low of $22.60 and a 52-week high of $36.78. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.31 and a current ratio of 1.31.

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

Institutional Investors Weigh In On Highwoods Properties

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake in Highwoods Properties by 83.8% in the fourth quarter. Russell Investments Group Ltd. now owns 788,693 shares of the real estate investment trust’s stock worth $24,118,000 after buying an additional 359,613 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Highwoods Properties during the 4th quarter worth approximately $234,000. Resona Asset Management Co. Ltd. bought a new position in shares of Highwoods Properties in the 4th quarter worth approximately $1,277,000. Helix Partners Management LP purchased a new position in shares of Highwoods Properties in the 4th quarter valued at approximately $6,116,000. Finally, ExodusPoint Capital Management LP boosted its position in shares of Highwoods Properties by 138.2% during the fourth quarter. ExodusPoint Capital Management LP now owns 140,499 shares of the real estate investment trust’s stock valued at $4,296,000 after purchasing an additional 81,511 shares in the last quarter. 96.31% of the stock is owned by hedge funds and other institutional investors.

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.