Highwoods Properties (NYSE:HIW) Rating Lowered to Equal Weight at Morgan Stanley

Highwoods Properties (NYSE:HIW – Get Rating) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $26.00 target price on the real estate investment trust’s stock, down from their previous target price of $29.00. Morgan Stanley’s target price indicates a potential upside of 10.08% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Truist Financial cut their price target on shares of Highwoods Properties from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, February 27th. Wells Fargo & Company increased their price target on shares of Highwoods Properties from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, November 22nd. Finally, Credit Suisse Group cut their price target on shares of Highwoods Properties from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 24th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.29.

Highwoods Properties Stock Down 6.3 %

Shares of NYSE HIW opened at $23.62 on Thursday. The firm has a market capitalization of $2.49 billion, a PE ratio of 16.07 and a beta of 1.14. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.29. Highwoods Properties has a 1 year low of $23.58 and a 1 year high of $47.01. The firm’s 50-day moving average is $28.59 and its 200-day moving average is $28.52.

Institutional Trading of Highwoods Properties

Several hedge funds have recently bought and sold shares of the stock. Belpointe Asset Management LLC acquired a new stake in shares of Highwoods Properties in the fourth quarter valued at approximately $28,000. CENTRAL TRUST Co raised its holdings in shares of Highwoods Properties by 76.6% in the third quarter. CENTRAL TRUST Co now owns 1,095 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 475 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Highwoods Properties by 98.2% in the fourth quarter. Ellevest Inc. now owns 1,094 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 542 shares during the last quarter. Heritage Wealth Advisors raised its holdings in shares of Highwoods Properties by 59.0% in the fourth quarter. Heritage Wealth Advisors now owns 1,617 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 600 shares during the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Highwoods Properties by 103.2% in the fourth quarter. IFP Advisors Inc now owns 878 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 446 shares during the last quarter. 94.57% of the stock is currently owned by institutional investors and hedge funds.

About Highwoods Properties

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Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. The company was founded by Ronald P.