Truist Financial Lowers Highwoods Properties (NYSE:HIW) Price Target to $28.00

Highwoods Properties (NYSE:HIW) had its price target cut by stock analysts at Truist Financial from $35.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 53.76% from the stock’s previous close.

HIW has been the subject of a number of other research reports. Citigroup upped their target price on shares of Highwoods Properties from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. StockNews.com assumed coverage on Highwoods Properties in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Wells Fargo & Company lowered shares of Highwoods Properties from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $27.00 to $22.00 in a report on Wednesday, August 30th. Bank of America downgraded shares of Highwoods Properties from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $20.00 in a research note on Monday, November 13th. Finally, Mizuho dropped their price target on shares of Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, October 18th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Highwoods Properties Price Performance

Shares of Highwoods Properties stock traded down $0.63 during mid-day trading on Tuesday, reaching $18.21. 444,993 shares of the stock traded hands, compared to its average volume of 1,220,291. The stock has a market capitalization of $1.92 billion, a PE ratio of 14.12 and a beta of 1.21. The business has a 50-day moving average of $19.70 and a 200 day moving average of $21.95. Highwoods Properties has a fifty-two week low of $17.06 and a fifty-two week high of $31.88. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.32.

Institutional Investors Weigh In On Highwoods Properties

A number of institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. boosted its holdings in Highwoods Properties by 0.4% during the 2nd quarter. Cohen & Steers Inc. now owns 17,500,375 shares of the real estate investment trust’s stock valued at $418,425,000 after acquiring an additional 70,232 shares during the period. Vanguard Group Inc. lifted its position in shares of Highwoods Properties by 1.2% during the third quarter. Vanguard Group Inc. now owns 16,319,629 shares of the real estate investment trust’s stock worth $439,978,000 after purchasing an additional 193,977 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Highwoods Properties by 1.8% in the second quarter. BlackRock Inc. now owns 12,747,900 shares of the real estate investment trust’s stock valued at $304,802,000 after purchasing an additional 229,179 shares during the period. State Street Corp grew its holdings in shares of Highwoods Properties by 7.3% in the first quarter. State Street Corp now owns 6,974,055 shares of the real estate investment trust’s stock valued at $161,728,000 after purchasing an additional 476,481 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Highwoods Properties by 82.7% during the 2nd quarter. Franklin Resources Inc. now owns 2,121,571 shares of the real estate investment trust’s stock worth $50,727,000 after buying an additional 960,178 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.

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.