Highwoods Properties Inc.’s recently made public that its EVP, CFO Maiorana Brendan C acquired Company’s shares for reported $40813.0 on Sep 28. In the deal valued at $27.21 per share,1,500 shares were bought. As a result of this transaction, Maiorana Brendan C now holds 39,254 shares worth roughly $ 0.93 million.
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Then, Klinck Theodore J bought 5,000 shares, generating $141,252 in total proceeds. Upon buying the shares at $28.25, the President and CEO now owns 246,445 shares.
Before that, Miller Jeffrey Douglas bought 1,000 shares. Highwoods Properties Inc. shares valued at $28,253 were divested by the EVP, General Counsel & Sec. at a price of $28.25 per share. As a result of the transaction, Miller Jeffrey Douglas now holds 116,482 shares, worth roughly $2.75 million.
Morgan Stanley downgraded its Highwoods Properties Inc. [HIW] rating to an Equal-weight from a an Overweight in a research note published on Friday, March 09, 2023; the price target was decreased to $26 from $29. PT values the company’s stock at a premium of 9.15 to its Friday closing price. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who decreased its forecast for the stock in early October from “an Outperform” to “a Neutral”. Jefferies also remained covering HIW and has decreased its forecast on June 30, 2022 with a “Hold” recommendation from previously “Buy” rating. Credit Suisse started covering the stock on June 23, 2022. It rated HIW as “a Neutral”.
Price Performance Review of HIW
On Friday, Highwoods Properties Inc. [NYSE:HIW] saw its stock fall -6.31% to $23.62. On the same session, the stock had its day’s lowest price of $23.58, but rose to a high of $25.16. Over the last five days, the stock has lost -13.13%. Highwoods Properties Inc. shares have fallen nearly -15.58% since the year began. Nevertheless, the stocks have fallen -47.21% over the past one year. While a 52-week high of $47.01 was reached on 02/02/23, a 52-week low of $24.51 was recorded on 03/10/23. SMA at 50 days reached $28.53, while 200 days put it at $30.53. A total of 1.39 million shares were traded, compared to the trading of 1.92 million shares in the previous session.
Levels Of Support And Resistance For HIW Stock
The 24-hour chart illustrates a support level at 23.08, which if violated will result in even more drops to 22.54. On the upside, there is a resistance level at 24.66. A further resistance level may holdings at 25.70. The Relative Strength Index (RSI) on the 14-day chart is 21.53, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.17%. Stochastics %K at 3.86% indicates the stock is a buying.
How much short interest is there in Highwoods Properties Inc.?
A steep rise in short interest was recorded in Highwoods Properties Inc. stocks on Jan 30, 2023, dropping by 70000.0 shares to a total of 2.81 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 2.88 million shares. There was a decline of -2.49%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.63% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.66.
Highwoods Properties Inc. [HIW] – Who Are The Largest Shareholders?
In filings from Cohen & Steers Capital Management, it is revealed that the company now owns 17,250,182 shares, or roughly 16.40% of the outstanding HIW shares. In other words, the investor’s shares have risen by 10,557 from its previous 13-F filing of 17239625.0. Additionally, The Vanguard Group, Inc. increased 2.13% of its stake after which the total value it holdings stand at $435,479,535, while BlackRock Fund Advisors added 5.30% of its stake to hold $268.25 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 111,667 shares of Highwoods Properties Inc., while CenterSquare Investment Managemen bought 1,019,182 shares. At present, Daiwa Asset Management Co. Ltd. is holding 2,254,615 shares valued at $59.75 million. Northern Trust Investments, Inc. owned 1,676,143 shares of the company at the time of its most recent 13F filing, worth $44.42 million.
According to FactSet, Highwoods Properties Inc.’s share price will average $30.70 in the next year, based on opinions of analysts polled by the firm. This is up nearly 20.98 percent from its previous closing price of $25.21. Analysts expect Highwoods Properties Inc. stock to reach the higher price of $35.00, while the lowest price estimate is $26.00. However, 11 analysts have rated HIW stock as an Overweight in their predictions for 2023. The most recent change occurred on April 22, 2022 when Mizuho began covering the stock and recommended ‘”a Neutral”‘ rating along with a $46 price target.