Highwoods Properties (NYSE:HIW) Issues Earnings Results, Misses Estimates By $0.74 EPS

Highwoods Properties (NYSE:HIW) issued its quarterly earnings data on Tuesday. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.74), Yahoo Finance reports. The company had revenue of $204.30 million during the quarter, compared to the consensus estimate of $204.96 million. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. Highwoods Properties’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. Highwoods Properties updated its FY24 guidance to $3.59-3.63 EPS and its FY 2024 guidance to 3.590-3.630 EPS.

Highwoods Properties Price Performance

Shares of NYSE:HIW opened at $35.59 on Friday. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $36.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. The stock has a market cap of $3.77 billion, a PE ratio of 29.16 and a beta of 1.26. The stock’s fifty day simple moving average is $32.99 and its two-hundred day simple moving average is $29.00.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.00 annualized dividend and a yield of 5.62%. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HIW. Wells Fargo & Company raised their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and boosted their price target for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Finally, Robert W. Baird raised their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.50.

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.