Highwoods Properties (NYSE:HIW) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.
A number of other equities research analysts have also recently commented on HIW. SunTrust Banks upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Friday, March 9th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 target price (down from $50.00) on shares of Highwoods Properties in a research report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th. Wells Fargo & Co started coverage on shares of Highwoods Properties in a research report on Friday, April 20th. They issued an “outperform” rating and a $49.00 target price for the company. Finally, DA Davidson set a $60.00 target price on shares of Highwoods Properties and gave the company a “buy” rating in a research report on Wednesday, April 25th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $53.71.
Highwoods Properties opened at $50.40 on Friday, according to MarketBeat.com. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 4.83 and a beta of 0.79. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.95. Highwoods Properties has a 52-week low of $41.34 and a 52-week high of $53.34.
In related news, EVP Jeffrey Douglas Miller sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $49.05, for a total transaction of $49,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership increased its position in Highwoods Properties by 1,344.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 509,911 shares of the real estate investment trust’s stock worth $25,960,000 after purchasing an additional 474,611 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Highwoods Properties during the fourth quarter worth about $3,326,000. BlueCrest Capital Management Ltd acquired a new stake in Highwoods Properties during the fourth quarter worth about $253,000. Franklin Resources Inc. increased its position in Highwoods Properties by 68.0% during the fourth quarter. Franklin Resources Inc. now owns 1,154,023 shares of the real estate investment trust’s stock worth $58,751,000 after purchasing an additional 467,226 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Highwoods Properties by 3.5% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 98,230 shares of the real estate investment trust’s stock worth $4,304,000 after purchasing an additional 3,293 shares during the last quarter. Hedge funds and other institutional investors own 92.26% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (?REIT?) and a member of the S&P MidCap 400 Index. The Company is a fullyintegrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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