Highwoods Properties (NYSE:HIW) Announces Earnings Results

Highwoods Properties (NYSE:HIW) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.68, Zacks reports. The company had revenue of $218.18 million during the quarter, compared to the consensus estimate of $216.39 million. Highwoods Properties had a net margin of 20.74% and a return on equity of 7.06%. Highwoods Properties’s revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS.

Highwoods Properties Stock Down 1.6%

Shares of HIW traded down $0.48 during trading hours on Tuesday, reaching $29.89. The company’s stock had a trading volume of 1,735,543 shares, compared to its average volume of 1,440,433. The company has a 50 day moving average of $30.25 and a two-hundred day moving average of $27.46. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.37. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 19.67 and a beta of 1.06. Highwoods Properties has a 1-year low of $20.45 and a 1-year high of $35.44.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 16th will be paid 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 payout ratio is 131.58%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HIW. Morgan Stanley upped their price target on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Citigroup lifted their target price on Highwoods Properties from $24.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Mizuho set a $32.00 target price on Highwoods Properties in a research report on Tuesday, September 8th. Huntington started coverage on Highwoods Properties in a report on Thursday, October 8th. They set a “market perform” rating and a $31.00 target price for the company. Finally, Weiss Ratings upgraded Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 31st. Eight research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.