Truist lowered the firm’s price target on Highwoods Properties (HIW) to $23 from $29 and keeps a Hold rating on the shares. Despite improved REIT office leasing and lower stock prices, sector optimism remains tempered by weaker-than-expected macro conditions, leading to reduced price targets implying only modest FFO multiple expansion, the analyst tells investors in a research note.
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Read More on HIW:
- Highwoods Properties price target lowered to $23 from $29 at Truist
- Highwoods Properties price target lowered to $29 from $30 at Baird
- Highwoods Properties price target lowered to $25 from $30 at Mizuho
- Highwoods Properties price target lowered to $27 from $30 at Deutsche Bank
- Highwoods Properties price target lowered to $24 from $30 at Citi