Downgrade Alert for Highwoods Properties (HIW)
Highwoods Properties (NYSE:HIW) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $48.09 on volume of 577,000 shares, below average daily volume of 581,000.
There is potential upside of 0.8% for shares of Highwoods Properties based on a current price of $48.09 and an average consensus analyst price target of $48.45. The stock should find initial support at its 50-day moving average (MA) of $46.70 and further support at its 200-day MA of $42.85.
In the past 52 weeks, shares of Highwoods Properties have traded between a low of $36.57 and a high of $49.08 and closed yesterday at $48.09, which is 32% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.
Highwoods Properties, Inc., with its operating partnership and subsidiaries, develops, manages, leases and acquires suburban office and industrial properties. Highwoods has expanded into markets throughout the southeastern and midwestern United States.
SmarTrend recommended that subscribers consider buying shares of Highwoods Properties on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $41.43. Since that recommendation, shares of Highwoods Properties have risen 15.2%. We continue to monitor HIW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades highwoods properties