Highwoods Properties Inc. (NYSE: HIW) stock fell -3.03% on Wednesday to $20.51 against a previous-day closing price of $21.15. With 1.03 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.31 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $21.19 whereas the lowest price it dropped to was $20.45. The 52-week range on HIW shows that it touched its highest point at $39.53 and its lowest point at $19.45 during that stretch. It currently has a 1-year price target of $26.70. With its current market cap of 2.17 billion, HIW has annualized dividend of $2.00 while the current yield stands at 9.75%. Beta for the stock currently stands at 1.13.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HIW was down-trending over the past week, with a drop of -0.53%, but this was down by -8.84% over a month. Three-month performance dropped to -25.01% while six-month performance fell -27.81%. The stock lost -46.96% in the past year, while it has lost -26.70% so far this year. A look at the trailing 12-month EPS for HIW yields 1.52 with Next year EPS estimates of 1.02. For the next quarter, that number is 0.27. This implies an EPS growth rate of -50.00% for this year and -6.15% for next year. EPS is expected to grow by 8.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -3.00%.
Float and Shares Shorts:
At present, 105.29 million HIW shares are outstanding with a float of 103.68 million shares on hand for trading. On May 14, 2023, short shares totaled 2.38 million, which was 2.25% higher than short shares on Apr 13, 2023. In addition to Mr. Theodore J. Klinck as the firm’s Pres, CEO & Director, Mr. Brendan C. Maiorana serves as its Exec. VP & CFO.
Institutional Ownership:
Through their ownership of 101.44% of HIW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 61.03% of HIW, in contrast to 41.60% held by mutual funds. Shares owned by individuals account for 3.65%. As the largest shareholder in HIW with 16.53% of the stake, Cohen & Steers Capital Management holds 17,430,143 shares worth 17,430,143. A second-largest stockholder of HIW, The Vanguard Group, Inc., holds 16,534,117 shares, controlling over 15.68% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in HIW, holding 10,136,174 shares or 9.61% stake. With a 4.38% stake in HIW, the Vanguard Real Estate Index Fund is the largest stakeholder. A total of 4,623,617 shares are owned by the mutual fund manager. The Cohen & Steers Realty Shares, Inc, which owns about 3.96% of HIW stock, is the second-largest Mutual Fund holder. It holds 4,171,233 shares valued at 95.6 million. Cohen & Steers Institutional Real holds 3.66% of the stake in HIW, owning 3,861,323 shares worth 88.5 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, HIW reported revenue of $203.84M and operating income of $62.14M. The EBITDA in the recently reported quarter was $132.33M and diluted EPS was $0.48.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HIW since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HIW analysts setting a high price target of $35.00 and a low target of $22.00, the average target price over the next 12 months is $26.22. Based on these targets, HIW could surge 70.65% to reach the target high and rise by 7.26% to reach the target low. Reaching the average price target will result in a growth of 27.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded HIW stock several times over the past three months with 12 Buys and 4 Sells. In these transactions, 206,717 shares were bought while 29,851 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 214,217 while 30,501 shares were sold.
