Highwoods Properties (NYSE:HIW) Issues FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HIW shares. Morgan Stanley increased their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an underweight rating in a research note on Thursday, March 28th. Robert W. Baird increased their target price on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a report on Tuesday, January 30th. They set a buy rating and a $28.00 price objective for the company. Finally, 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 note on Tuesday, February 13th. One equities research 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’s stock. According to MarketBeat, Highwoods Properties presently has an average rating of Hold and an average price target of $24.38.

Highwoods Properties Stock Performance

Shares of NYSE HIW traded up $0.69 during trading hours on Tuesday, hitting $25.40. 916,504 shares of the company’s stock were exchanged, compared to its average volume of 1,269,485. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $26.27. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 17.78 and a beta of 1.23. The company’s 50-day moving average price is $24.50 and its 200-day moving average price is $22.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.24 and a quick ratio of 1.24.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.87%. Highwoods Properties’s payout ratio is 143.89%.

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.