Highwoods Properties (NYSE:HIW) Releases Earnings Results, Misses Estimates By $0.31 EPS

Highwoods Properties (NYSE:HIW) posted its earnings results on Tuesday. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.31), Zacks reports. The firm had revenue of $204.74 million for the quarter, compared to the consensus estimate of $205.06 million. Highwoods Properties had a net margin of 15.78% and a return on equity of 5.44%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Highwoods Properties updated its FY 2024 guidance to 3.540-3.620 EPS.

Highwoods Properties Trading Up 1.5 %

Shares of HIW traded up $0.44 during trading hours on Wednesday, reaching $29.16. 2,107,037 shares of the company traded hands, compared to its average volume of 1,090,496. The stock’s fifty day moving average price is $26.31 and its 200 day moving average price is $25.06. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.37. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 23.96 and a beta of 1.27. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $29.96.

Highwoods Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 6.86%. Highwoods Properties’s dividend payout ratio is presently 163.93%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HIW shares. Morgan Stanley increased their target price on Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft increased their target price on Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, May 6th. One investment 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. According to MarketBeat.com, Highwoods Properties presently has an average rating of “Hold” and an average target price of $24.75.

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.