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

Highwoods Properties (NYSE:HIW) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 3.460-3.610 for the period, compared to the consensus earnings per share 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 Down 1.2 %

NYSE:HIW traded down $0.30 during mid-day trading on Thursday, reaching $25.60. The stock had a trading volume of 1,327,208 shares, compared to its average volume of 1,268,398. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 20.98 and a beta of 1.23. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $26.27. The stock’s 50 day simple moving average is $24.65 and its two-hundred day simple moving average is $22.29.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, May 17th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.81%. Highwoods Properties’s dividend payout ratio (DPR) is 163.93%.

Wall Street Analyst Weigh In

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