Highwoods Properties (NYSE:HIW) Releases 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 (EPS) guidance of 3.460-3.610 for the period, compared to the consensus 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 Stock Up 1.3 %

HIW traded up $0.32 during trading on Wednesday, reaching $25.72. The stock had a trading volume of 621,815 shares, compared to its average volume of 1,260,860. The stock’s 50 day moving average is $24.55 and its two-hundred day moving average is $22.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 18.20 and a beta of 1.23. Highwoods Properties has a one year low of $17.06 and a one year high of $26.27.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders 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 yield of 7.78%. Highwoods Properties’s dividend payout ratio (DPR) is 143.88%.

Wall Street Analysts Forecast Growth

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