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

Highwoods Properties (NYSE:HIW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.590-3.630 for the period, compared to the consensus earnings per share estimate of 3.590. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.59-3.63 EPS.

Highwoods Properties Price Performance

NYSE HIW traded up $0.01 during trading hours on Tuesday, reaching $35.59. 1,335,849 shares of the stock traded hands, compared to its average volume of 982,242. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a 50 day simple moving average of $32.74 and a two-hundred day simple moving average of $28.83. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $36.55. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 29.05 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31). Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The firm had revenue of $204.74 million for the quarter, compared to analysts’ expectations of $205.06 million. During the same period in the prior year, the business posted $0.94 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts predict that Highwoods Properties will post 3.6 EPS for the current fiscal year.

Highwoods Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.62%. Highwoods Properties’s payout ratio is 163.93%.

Analyst Upgrades and Downgrades

HIW has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 11th. Truist Financial lifted their price objective on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Robert W. Baird increased their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and raised their price target for the stock from $31.00 to $35.00 in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and a consensus target price of $28.50.

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.