Highwoods Properties (NYSE:HIW – Get Free Report) 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
Read Our Latest Stock Report on Highwoods Properties
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.
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