Highwoods Properties (HIW) : Money flow in the Highwoods Properties (HIW) stock was negative (1.07 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $0.52 million, compared to $1.59 million on downticks. The total uptick to downtick ratio was 0.33, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($1.2 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $1.2 million, indicating persistent selling. Highwoods Properties (HIW) traded $0.01 higher at $53.71 gaining 0.02% over the previous days close.
Also, Brokerage firm SunTrust Robinson Humphrey maintains its rating on Highwoods Properties (NYSE:HIW). As per the latest information, the brokerage house raises the price target to $53 per share from a prior target of $48. The shares have been rated Neutral. The rating by the firm was issued on July 15, 2016.
Highwoods Properties (NYSE:HIW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.91 and $53.59 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $54.03. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.99, notching a gain of 0.54% for the day. The total traded volume was 492,080 . The stock had closed at $53.70 on the previous day.
The stock has recorded a 20-day Moving Average of 3.37% and the 50-Day Moving Average is 8.51%. In a related news, The Director Officer (President & Ceo), of HIGHWOODS PROPERTIES INC, Fritsch Edward J had unloaded 85,822 shares at $52.29 per share in a transaction on June 29, 2016. The total value of transaction was $4,487,632. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Highwoods Properties, Inc. is a real estate investment trust. The Company is engaged in the business of operation, acquisition and development of real estate properties. It provides leasing, management, development, construction and other customer-related services for its properties and for third parties. The Company operates office, industrial, retail and residential properties. The Company conducts its activities through Highwoods Realty Limited Partnership. The Companys portfolio consists of office properties in Raleigh, Atlanta, Tampa, Nashville, Memphis, Pittsburgh, Richmond and Orlando; office and industrial properties in Greensboro, and retail and office properties in Kansas City. The Company holds an interest of approximately 31.2 million rentable square feet of in-service properties, 1.7 million rentable square feet of properties under development and approximately 500 acres of development land.