Deutsche downgrades Highwoods Properties after 41% year-to-date rally

Deutsche Bank downgraded Highwoods Properties to Hold from Buy with a price target of $35, up from $31. The firm believes the stock’s risk/reward profile is more fairly balanced with the stock up 41% year-to-date. Leasing momentum should remain solid at Highwoods given the continued job growth in its markets as companies continue to open up regional headquarters in major Sunbelt markets to follow the ongoing population migration trends, the analyst tells investors in a research note.