Highwoods Properties (NYSE:HIW) — This integrated real estate investment trust (REIT) operates and develops office, industrial and retail properties throughout the Southwest and Midwest.
Leasing activity is improving in many of the company’s markets. Funds from operations (FFO) are expected to increase to $2.82 in 2013, up from $2.72 in 2012. The stock has a dividend yield of 5%.
HIW is at the apex of a right triangle and volume is picking up in what appears to be a buildup prior to a breakout. Recently it flashed a buy signal from our proprietary Collins-Bollinger Reversal (CBR) indicator, and its MACD issued a buy signal last week.
The target for HIW is $36, and combined with its generous dividend could provide an annual return of more than 6%. HIW’s long-term target is $40-plus.