Highwoods Properties (NYSE:HIW) Releases FY24 Earnings Guidance

Highwoods Properties (NYSE:HIW) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.46-3.61 for the period, compared to the consensus estimate of $3.56. Highwoods Properties also updated its FY 2024 guidance to 3.460-3.610 EPS.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Truist Financial upped their target price on shares of Highwoods Properties from $28.00 to $29.00 and gave the company a buy rating in a report on Tuesday, February 13th. Morgan Stanley upped their target price on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an underweight rating in a report on Thursday, March 28th. Robert W. Baird upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Highwoods Properties in a report on Tuesday, January 30th. They issued a buy rating and a $28.00 target price 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 stock. Based on data from MarketBeat, Highwoods Properties has an average rating of Hold and a consensus price target of $24.38.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded down $0.30 on Thursday, reaching $25.60. 1,327,208 shares of the stock were exchanged, compared to its average volume of 1,268,398. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $26.27. 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 business has a fifty day moving average price of $24.65 and a two-hundred day moving average price of $22.29. The firm has a market capitalization of $2.71 billion, a PE ratio of 20.98 and a beta of 1.23.

Highwoods Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend 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%.

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.