Highwoods Properties (NYSE:HIW) Announces Quarterly Earnings Results

Highwoods Properties (NYSE:HIW) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08, FiscalAI reports. Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. The business had revenue of $218.18 million for the quarter, compared to analyst estimates of $216.39 million.

Highwoods Properties Price Performance

HIW traded down $0.48 during midday trading on Tuesday, hitting $29.89. 1,735,228 shares of the company traded hands, compared to its average volume of 1,436,865. The business has a 50 day simple moving average of $30.25 and a two-hundred day simple moving average of $27.46. Highwoods Properties has a 52-week low of $20.45 and a 52-week high of $35.44. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 19.67 and a beta of 1.06. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 1.37.

Highwoods Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Monday, November 16th. Highwoods Properties’s dividend payout ratio (DPR) is presently 131.58%.

Analyst Ratings Changes

Several research analysts have recently issued reports on HIW shares. Citigroup raised their price objective on Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 target price on the stock. in a report on Wednesday, August 5th. Morgan Stanley boosted their target price on shares of Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Finally, Huntington started coverage on shares of Highwoods Properties in a report on Thursday, October 8th. They set a “market perform” rating and a $31.00 price target on the stock. Eight research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Highwoods Properties presently has a consensus rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Company Profile

Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.