Highwoods Properties (NYSE:HIW) Updates FY24 Earnings Guidance

Highwoods Properties (NYSE:HIW) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.46-3.61 for the period, compared to the consensus earnings per share estimate of $3.56.

Highwoods Properties Price Performance

Shares of NYSE HIW traded up $0.69 during trading on Tuesday, reaching $25.40. The company had a trading volume of 916,504 shares, compared to its average volume of 1,265,597. Highwoods Properties has a 52 week low of $17.06 and a 52 week high of $26.27. The stock has a market cap of $2.69 billion, a PE ratio of 17.78 and a beta of 1.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50 day moving average price is $24.50 and its 200-day moving average price is $22.19.

Highwoods Properties Dividend Announcement

The business also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date is Friday, May 17th. Highwoods Properties’s dividend payout ratio is presently 143.89%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HIW shares. Truist Financial lifted their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Robert W. Baird lifted 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. Deutsche Bank Aktiengesellschaft started 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 for the company. Finally, Morgan Stanley lifted their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target 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.