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.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Robert W. Baird increased their price objective on Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Truist Financial increased their price objective on Highwoods Properties from $28.00 to $29.00 and gave the stock a buy rating in a report on Tuesday, February 13th. Morgan Stanley increased their price objective on Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a report on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Highwoods Properties in a report on Tuesday, January 30th. They issued a buy rating and a $28.00 price objective on the stock. One equities research 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.com, the stock has a consensus rating of Hold and a consensus price target of $24.38.

Highwoods Properties Stock Performance

Highwoods Properties stock traded up $0.74 during trading hours on Tuesday, reaching $25.45. 916,579 shares of the company were exchanged, compared to its average volume of 1,269,485. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 18.31 and a beta of 1.23. 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 stock has a 50-day moving average of $24.55 and a 200 day moving average of $22.24. Highwoods Properties has a 12 month low of $17.06 and a 12 month high of $26.27.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be given 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 yield of 7.86%. Highwoods Properties’s payout ratio is currently 143.89%.

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.