Jefferies Upgrades Highwoods Properties Inc. (HIW) to Buy

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Jefferies upgraded Highwoods Properties Inc. (NYSE: HIW) from Hold to Buy with a price target of $40.00 (from $35.00).

The firm comments, "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."

For an analyst ratings summary and ratings history on Highwoods Properties Inc. click here. For more ratings news on Highwoods Properties Inc. click here.

Shares of Highwoods Properties Inc. closed at $34.33 yesterday, with a 52 week range of $29.78-$35.78.

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