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

Highwoods Properties (NYSE:HIW) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.460-3.610 for the period, compared to the consensus EPS 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 Performance

HIW traded up $0.53 on Friday, hitting $26.13. 276,970 shares of the company’s stock were exchanged, compared to its average volume of 1,255,744. The firm has a market cap of $2.77 billion, a PE ratio of 20.98 and a beta of 1.23. Highwoods Properties has a twelve month low of $17.06 and a twelve month high of $26.27. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.37. The stock has a fifty day moving average of $24.65 and a two-hundred day moving average of $22.29.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Monday, May 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties’s dividend payout ratio is 163.93%.

Analyst Upgrades and Downgrades

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