UPDATE: Jefferies Upgrades Highwoods Properties to Buy on Rent Spread and Occupancy Growth
Jefferies upgraded Highwoods Properties, Inc. (NYSE: HIW) from Hold to Buy and raised the price target from $35.00 to $40.00.
Jefferies noted, "Highwoods should be a beneficiary of improving suburban office fundamentals and will likely benefit from 1) positive rent spreads as leases signed in the trough roll in 2013-14, 2) long-term occupancy growth as the jobs outlook improves, 3) increasing acquisition/development opportunities, and 4) attractive debt refinancing. Additionally, HIW offers an attractive 5% dividend."
Highwoods Properties closed at $34.33 on Monday.
Latest Ratings for HIW
|Jun 2015||Stifel Nicolaus||Downgrades||Buy||Hold|
|Apr 2015||Morgan Stanley||Upgrades||Equal-weight||Overweight|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.