Highwoods Properties (NYSE:HIW) Updates FY 2024 Earnings Guidance

Highwoods Properties (NYSE:HIW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.590-3.630 for the period, compared to the consensus earnings per share estimate of 3.590. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.59-3.63 EPS.

Analyst Ratings Changes

A number of research analysts have recently commented on HIW shares. Wells Fargo & Company increased their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Truist Financial increased their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird boosted their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and increased their target price for the company from $31.00 to $35.00 in a research report on Tuesday, October 1st. One research 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. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.50.

Highwoods Properties Stock Performance

NYSE HIW traded up $0.78 on Wednesday, reaching $36.37. The stock had a trading volume of 306,811 shares, compared to its average volume of 978,951. The stock has a market cap of $3.86 billion, a P/E ratio of 29.82 and a beta of 1.26. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $36.78. The business’s 50-day moving average price is $32.83 and its 200 day moving average price is $28.90. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74). Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The business had revenue of $204.30 million during the quarter, compared to analysts’ expectations of $204.96 million. During the same quarter last year, the company earned $0.93 EPS. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts expect that Highwoods Properties will post 3.6 earnings per share for the current year.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s dividend payout ratio is currently 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.