Highwoods Properties (NYSE:HIW – Get Free Report) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.08, FiscalAI reports. The firm had revenue of $218.18 million for the quarter, compared to analysts’ expectations of $216.39 million. Highwoods Properties had a return on equity of 7.06% and a net margin of 20.74%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS.
Highwoods Properties Trading Down 2.1%
Shares of HIW stock opened at $29.18 on Thursday. Highwoods Properties has a fifty-two week low of $20.45 and a fifty-two week high of $35.44. The firm’s 50 day moving average price is $30.19 and its two-hundred day moving average price is $27.48. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.37. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 19.20 and a beta of 1.06.
Highwoods Properties Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, November 16th. This represents a $2.00 annualized dividend and a yield of 6.9%. Highwoods Properties’s dividend payout ratio is currently 131.58%.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Citigroup boosted their target price on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft cut shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 target price for the company. in a report on Wednesday, August 5th. Mizuho set a $32.00 price objective on Highwoods Properties in a report on Tuesday, September 8th. Morgan Stanley raised their price objective on Highwoods Properties from $23.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Nine investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.00.
Check Out Our Latest Research Report on Highwoods Properties
About Highwoods Properties
Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.
The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.
Highwoods Properties is headquartered in Raleigh, North Carolina.
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