Highwoods Properties, Inc. Plans Quarterly Dividend of $0.50 (NYSE:HIW)

Highwoods Properties, Inc. (NYSE:HIW) announced a quarterly dividend on Thursday, January 29th. Investors of record on Tuesday, February 17th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, March 10th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date is Tuesday, February 17th.

Highwoods Properties has increased its dividend payment by an average of 0.0%annually over the last three years. Highwoods Properties has a payout ratio of 289.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Highwoods Properties to earn $3.59 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 55.7%.

Highwoods Properties Trading Down 0.6%

NYSE HIW traded down $0.17 during mid-day trading on Friday, hitting $25.73. The company’s stock had a trading volume of 58,422 shares, compared to its average volume of 1,149,815. The firm has a market capitalization of $2.83 billion, a P/E ratio of 22.01 and a beta of 1.07. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.39 and a quick ratio of 1.39. Highwoods Properties has a 52-week low of $24.18 and a 52-week high of $32.76. The stock’s fifty day simple moving average is $26.45 and its two-hundred day simple moving average is $28.88.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.86. The company had revenue of $201.77 million during the quarter, compared to analyst estimates of $205.74 million. Highwoods Properties had a net margin of 15.98% and a return on equity of 5.48%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. Research analysts expect that Highwoods Properties will post 3.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. New Street Research set a $30.00 price target on Highwoods Properties in a report on Monday, October 13th. Wall Street Zen upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Wolfe Research assumed coverage on Highwoods Properties in a report on Wednesday, October 8th. They set an “outperform” rating and a $38.00 target price on the stock. Wells Fargo & Company decreased their price target on Highwoods Properties from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, November 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Tuesday, January 6th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Highwoods Properties presently has a consensus rating of “Hold” and an average price target of $30.75.

Highwoods Properties Company Profile

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.