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

Highwoods Properties (NYSE:HIW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 3.460-3.610 for the period, compared to the consensus estimate of 3.570. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.46-3.61 EPS.

Highwoods Properties Price Performance

Shares of HIW traded up $0.53 during trading hours on Friday, reaching $26.13. 276,970 shares of the company’s stock traded hands, compared to its average volume of 1,255,744. The stock has a market cap of $2.77 billion, a PE ratio of 20.98 and a beta of 1.23. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.37. Highwoods Properties has a 12 month low of $17.06 and a 12 month high of $26.27. The firm’s 50 day simple moving average is $24.65 and its 200-day simple moving average is $22.29.

Highwoods Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 annualized dividend and a dividend yield of 7.65%. Highwoods Properties’s dividend payout ratio (DPR) is presently 163.93%.

Analyst Upgrades and Downgrades

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

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.