Highwoods Properties (NYSE:HIW) Updates FY 2024 Earnings Guidance

Highwoods Properties (NYSE:HIW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.460-3.610 for the period, compared to the consensus earnings per share estimate of 3.570. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.46-3.61 EPS.

Highwoods Properties Trading Up 1.3 %

NYSE HIW traded up $0.32 during trading hours on Wednesday, reaching $25.72. The company’s stock had a trading volume of 621,815 shares, compared to its average volume of 1,260,860. The firm has a fifty day simple moving average of $24.55 and a 200-day simple moving average of $22.24. The stock has a market cap of $2.73 billion, a P/E ratio of 18.20 and a beta of 1.23. Highwoods Properties has a 52 week low of $17.06 and a 52 week high of $26.27. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, May 17th. This represents a $2.00 annualized dividend and a yield of 7.78%. Highwoods Properties’s payout ratio is 143.88%.

Analysts Set New Price Targets

HIW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Highwoods Properties in a research report on Tuesday, January 30th. They set a buy rating and a $28.00 price objective for the company. Morgan Stanley lifted their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an underweight rating in a research report on Thursday, March 28th. Truist Financial lifted their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the company a buy rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird lifted their price objective on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Highwoods Properties has a consensus rating of Hold and an average target price of $24.38.

About Highwoods Properties

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.