Highwoods Properties (NYSE:HIW) Updates FY24 Earnings Guidance

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

Highwoods Properties Stock Up 2.8 %

Shares of NYSE:HIW traded up $0.69 on Tuesday, reaching $25.40. The company had a trading volume of 916,504 shares, compared to its average volume of 1,265,597. Highwoods Properties has a 52-week low of $17.06 and a 52-week high of $26.27. The firm’s 50 day simple moving average is $24.50 and its 200-day simple moving average is $22.19. The firm has a market capitalization of $2.69 billion, a PE ratio of 17.78 and a beta of 1.23. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.33.

Highwoods Properties Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on HIW shares. Robert W. Baird raised their price objective on Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on Highwoods Properties in a research report on Tuesday, January 30th. They issued a buy rating and a $28.00 price objective for the company. Truist Financial raised their price objective on Highwoods Properties from $28.00 to $29.00 and gave the stock a buy rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley raised their price objective on Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $24.38.

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.