Highwoods Properties (NYSE:HIW) Releases FY24 Earnings Guidance

Highwoods Properties (NYSE:HIW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.59-3.63 for the period, compared to the consensus earnings per share estimate of $3.60.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and increased their target price for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 11th. Robert W. Baird increased their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.50.

Highwoods Properties Stock Down 0.2 %

Shares of NYSE:HIW traded down $0.06 during trading hours on Tuesday, reaching $35.52. The stock had a trading volume of 1,088,677 shares, compared to its average volume of 981,031. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $36.55. The firm’s 50 day moving average is $32.74 and its 200-day moving average is $28.83. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 29.05 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The firm had revenue of $204.74 million during the quarter, compared to analysts’ expectations of $205.06 million. During the same period in the prior year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts predict that Highwoods Properties will post 3.6 earnings per share for the current fiscal year.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is 163.93%.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.