Highwoods Properties (NYSE:HIW) : 4 brokerage houses believe that Highwoods Properties (NYSE:HIW) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Highwoods Properties (NYSE:HIW). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 11 Wall Street Analysts endorse the stock as a Buy with a rating of 2.27.
Highwoods Properties (NYSE:HIW) has been rated by 9 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $55 and the lowest price target forecast is $47. The average forecast of all the analysts is $50.39 and the expected standard deviation is $2.87.
Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Morgan Stanley downgrades its outlook on Highwoods Properties (NYSE:HIW). The current rating of the shares is Equal-weight, according to the research report released by the firm. Previously, the company had a rating of Overweight. The brokerage firm raises the price target from $47 per share to $50 per share. The rating by the firm was issued on May 12, 2016.
Highwoods Properties (NYSE:HIW): stock turned positive on Tuesday. Though the stock opened at $50.51, the bulls momentum made the stock top out at $51.56 level for the day. The stock recorded a low of $50.14 and closed the trading day at $51.49, in the green by 3.10%. The total traded volume for the day was 1,387,339. The stock had closed at $49.94 in the previous days trading.
In an insider trading activity, The director officer (President & CEO), of Highwoods Properties Inc, Fritsch Edward J had unloaded 24,656 shares at $49.38 per share in a transaction on June 15, 2016. The total value of transaction was $1,217,513. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Highwoods Properties, Inc. is a real estate investment trust. The Company is engaged in the business of operation, acquisition and development of real estate properties. It provides leasing, management, development, construction and other customer-related services for its properties and for third parties. The Company operates office, industrial, retail and residential properties. The Company conducts its activities through Highwoods Realty Limited Partnership. The Companys portfolio consists of office properties in Raleigh, Atlanta, Tampa, Nashville, Memphis, Pittsburgh, Richmond and Orlando; office and industrial properties in Greensboro, and retail and office properties in Kansas City. The Company holds an interest of approximately 31.2 million rentable square feet of in-service properties, 1.7 million rentable square feet of properties under development and approximately 500 acres of development land.