Highwoods Properties, Inc. (NYSE:HIW) to Issue Quarterly Dividend of $0.50

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, April 23rd, RTT News reports. Investors of record on Monday, May 19th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend is Monday, May 19th.

Highwoods Properties has a dividend payout ratio of 266.7% meaning 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 $3.59 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 55.7%.

Highwoods Properties Stock Up 0.7 %

Shares of HIW opened at $28.29 on Friday. The firm has a market cap of $3.05 billion, a P/E ratio of 29.78 and a beta of 1.15. Highwoods Properties has a 12 month low of $24.07 and a 12 month high of $36.78. The stock’s 50 day moving average is $28.27 and its two-hundred day moving average is $30.34. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%. Analysts predict that Highwoods Properties will post 3.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Highwoods Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $32.00 price target on the stock. Mizuho lifted their price objective on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. StockNews.com cut Highwoods Properties from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Finally, Truist Financial cut their target price on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.50.

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.