Highwoods Properties (NYSE:HIW) Issues FY24 Earnings Guidance

Highwoods Properties (NYSE:HIW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.59-3.63 for the period, compared to the consensus estimate of $3.60. Highwoods Properties also updated its FY 2024 guidance to 3.590-3.630 EPS.

Analyst Ratings Changes

HIW has been the topic of a number of research reports. Wells Fargo & Company boosted 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 upped their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating and upped their price objective for the company from $31.00 to $35.00 in a research note on Tuesday, October 1st. Finally, Truist Financial boosted their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $28.50.

Highwoods Properties Stock Down 0.5 %

Shares of NYSE:HIW opened at $35.57 on Friday. Highwoods Properties has a 12 month low of $17.06 and a 12 month high of $36.78. The company’s 50-day moving average price is $32.99 and its two-hundred day moving average price is $29.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. The firm has a market cap of $3.77 billion, a P/E ratio of 29.16 and a beta of 1.26.

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

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.62%. Highwoods Properties’s dividend payout ratio (DPR) is presently 163.93%.

About Highwoods Properties

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.