Highwoods Properties, Inc. (NYSE:HIW) to Issue Quarterly Dividend of $0.44 on September 6th
Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, August 2nd, RTT News reports. Shareholders of record on Monday, August 14th will be given a dividend of 0.44 per share by the real estate investment trust on Wednesday, September 6th. This represents a $1.76 annualized dividend and a yield of 3.48%. The ex-dividend date is Thursday, August 10th.
Highwoods Properties has a dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Highwoods Properties to earn $3.52 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 50.0%.
Highwoods Properties (NYSE HIW) opened at 50.54 on Friday. Highwoods Properties has a 52-week low of $45.83 and a 52-week high of $56.04. The firm has a 50-day moving average price of $51.07 and a 200 day moving average price of $50.83. The stock has a market cap of $5.22 billion, a PE ratio of 40.30 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.59. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The company had revenue of $177.28 million during the quarter, compared to analyst estimates of $172.28 million. During the same quarter in the previous year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Highwoods Properties will post $1.19 earnings per share for the current year.
Several brokerages have recently weighed in on HIW. ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Stifel Nicolaus restated a “buy” rating and issued a $55.00 price objective on shares of Highwoods Properties in a report on Wednesday, April 19th. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.00.
In other news, COO Theodore J. Klinck sold 10,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the sale, the chief operating officer now directly owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.
Highwoods Properties Company Profile
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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