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 (EPS) guidance of $3.46-3.61 for the period, compared to the consensus estimate of $3.56. Highwoods Properties also updated its FY 2024 guidance to 3.460-3.610 EPS.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HIW. Deutsche Bank Aktiengesellschaft began coverage on shares of Highwoods Properties in a research report on Tuesday, January 30th. They set a buy rating and a $28.00 price target on the stock. Robert W. Baird increased their price target on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Truist Financial upped their target price on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley upped their target price on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $24.38.

Highwoods Properties Stock Up 0.8 %

Highwoods Properties stock traded up $0.21 during mid-day trading on Wednesday, hitting $25.61. The company had a trading volume of 495,860 shares, compared to its average volume of 1,259,117. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 18.20 and a beta of 1.23. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $26.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.33. The business has a fifty day moving average of $24.55 and a 200 day moving average of $22.24.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be paid a $0.50 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.00 annualized dividend and a yield of 7.81%. Highwoods Properties’s dividend payout ratio is currently 143.88%.

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.