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

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, March 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Tuesday, February 18th.

Highwoods Properties has raised its dividend by an average of 0.7% per year over the last three years. Highwoods Properties has a payout ratio of 350.9% 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 $3.43 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 58.3%.

Highwoods Properties Trading Down 0.1 %

HIW stock opened at $29.23 on Friday. Highwoods Properties has a one year low of $22.60 and a one year high of $36.78. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 21.82 and a beta of 1.24. The company has a fifty day moving average price of $29.86 and a two-hundred day moving average price of $31.62. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.31 and a quick ratio of 1.31.

Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. Equities analysts anticipate that Highwoods Properties will post 3.61 EPS for the current year.

Wall Street Analyst Weigh In

HIW has been the topic of a number of recent research reports. Truist Financial lowered their price target on shares of Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Highwoods Properties from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Robert W. Baird boosted their price target on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Mizuho raised their price objective on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group dropped their price objective on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.71.

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.