Highwoods Properties, Inc. (HIW) To Go Ex-Dividend on May 17th

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, April 17th, NASDAQ reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, June 11th. This represents a $2.00 annualized dividend and a dividend yield of 8.35%. The ex-dividend date is Friday, May 17th.

Highwoods Properties has raised its dividend by an average of 1.4% per year over the last three years. Highwoods Properties has a dividend payout ratio of 487.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Highwoods Properties to earn $3.53 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 56.7%.

Highwoods Properties Stock Up 0.6 %

Shares of HIW stock opened at $23.96 on Friday. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $26.27. 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 business’s fifty day moving average is $24.49 and its 200-day moving average is $22.09. The stock has a market cap of $2.54 billion, a PE ratio of 17.24 and a beta of 1.23.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HIW. Morgan Stanley lifted their target price on Highwoods Properties from $18.00 to $21.00 and gave the stock an “underweight” rating in a report on Thursday, March 28th. Robert W. Baird lifted their price objective on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a research note on Tuesday, January 30th. They set a “buy” rating and a $28.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.38.

Institutional Investors Weigh In On Highwoods Properties

Several hedge funds have recently made changes to their positions in the company. Harvest Portfolios Group Inc. grew its position in Highwoods Properties by 26.3% in the first quarter. Harvest Portfolios Group Inc. now owns 10,207 shares of the real estate investment trust’s stock worth $237,000 after acquiring an additional 2,125 shares in the last quarter. Worth Venture Partners LLC bought a new stake in shares of Highwoods Properties during the 1st quarter worth about $229,000. HighTower Advisors LLC bought a new position in shares of Highwoods Properties in the 1st quarter valued at approximately $215,000. Crossmark Global Holdings Inc. acquired a new stake in Highwoods Properties in the 4th quarter worth approximately $205,000. Finally, Public Employees Retirement Association of Colorado boosted its position in Highwoods Properties by 189.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 8,321 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 5,444 shares during the period. Hedge funds and other institutional investors own 96.31% of the company’s stock.

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.