Highwoods Properties (NYSE:HIW) Releases Earnings Results, Beats Estimates By $0.08 EPS

Highwoods Properties (NYSE:HIW) issued its earnings results on Tuesday. The real estate investment trust reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08, FiscalAI reports. The company had revenue of $218.18 million for the quarter, compared to analysts’ expectations of $216.39 million. During the same period last year, the business posted $0.86 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year.

Highwoods Properties Stock Down 1.6%

Shares of HIW stock opened at $29.89 on Wednesday. Highwoods Properties has a 1-year low of $20.45 and a 1-year high of $35.44. The stock’s 50-day moving average is $30.23 and its 200 day moving average is $27.47.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.00 dividend on an annualized basis and a yield of 6.7%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings upgraded Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Morgan Stanley upped their target price on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Wells Fargo & Company increased their price target on Highwoods Properties from $26.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 1st. Huntington began coverage on Highwoods Properties in a research report on Thursday, October 8th. They set a “market perform” rating and a $31.00 price target on the stock. Finally, Mizuho set a $32.00 price target on Highwoods Properties in a research note on Tuesday, September 8th. Eight research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Highwoods Properties has an average rating of “Hold” and an average price target of $32.00.

About Highwoods Properties

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.