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NEW YORK ( TheStreet) -- Highwoods Properties Inc (NYSE: HIW) hit a new 52-week low Friday as it is currently trading at $29.18, below its previous 52-week low of $29.39 with 784,136 shares traded as of 12:03 p.m. ET. Average volume has been 728,100 shares over the past 30 days. Highwoods has a market cap of $2.4 billion and is part of the financial sector and real estate industry. Shares are down 3.7% year to date as of the close of trading on Thursday. Highwoods Properties, Inc. is a real estate investment trust. The trust engages in leasing, management, development, construction, and other customer-related services for its properties and for third parties. It invests in the real estate markets of United States. The company has a P/E ratio of 64.9, above the average real estate industry P/E ratio of 44.5 and above the S&P 500 P/E ratio of 17.7.