Highwoods Properties Inc (NYSE:HIW) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Monday, August 17th will be paid a dividend of 0.48 per share by the real estate investment trust on Wednesday, September 9th. This represents a $1.92 annualized dividend and a yield of 5.03%. The ex-dividend date is Friday, August 14th.
Highwoods Properties has increased its dividend by an average of 11.8% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Highwoods Properties has a payout ratio of 118.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Highwoods Properties to earn $3.60 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 53.3%.
Highwoods Properties stock traded down $1.29 during midday trading on Thursday, hitting $38.14. The stock had a trading volume of 4,413 shares, compared to its average volume of 627,814. Highwoods Properties has a 52-week low of $25.10 and a 52-week high of $52.76. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $3.97 billion, a PE ratio of 13.14, a P/E/G ratio of 2.25 and a beta of 0.99. The firm’s fifty day moving average is $37.81 and its two-hundred day moving average is $40.71.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.53). Highwoods Properties had a net margin of 41.15% and a return on equity of 14.10%. The company had revenue of $183.15 million for the quarter, compared to the consensus estimate of $187.69 million. During the same period in the prior year, the firm posted $0.87 EPS. The business’s revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Highwoods Properties will post 3.58 earnings per share for the current fiscal year.
Several brokerages recently weighed in on HIW. Stifel Nicolaus cut their target price on shares of Highwoods Properties from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, April 3rd. Mizuho raised Highwoods Properties from a “neutral” rating to a “buy” rating and reduced their target price for the company from $51.00 to $45.00 in a report on Tuesday, April 28th. SunTrust Banks boosted their price target on Highwoods Properties from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. DA Davidson reaffirmed a “buy” rating on shares of Highwoods Properties in a research note on Wednesday. Finally, ValuEngine lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $44.38.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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