Highwoods Properties (NYSE:HIW) Updates 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.

Analysts Set New Price Targets

Several brokerages have recently commented on HIW. Morgan Stanley increased their price target on shares of Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a research note on Thursday, March 28th. Robert W. Baird raised their target price on shares of Highwoods Properties from $25.00 to $26.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a report on Tuesday, January 30th. They set a buy rating and a $28.00 price objective for the company. Finally, Truist Financial raised 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 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. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $24.38.

Highwoods Properties Price Performance

HIW traded up $0.74 during midday trading on Tuesday, hitting $25.45. The company had a trading volume of 916,579 shares, compared to its average volume of 1,269,485. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $2.70 billion, a PE ratio of 17.78 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 firm’s 50-day simple moving average is $24.50 and its 200-day simple moving average is $22.19.

Highwoods Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Monday, May 20th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.86%. The ex-dividend date is Friday, May 17th. Highwoods Properties’s dividend payout ratio is 143.89%.

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.