Highwoods Properties, Inc. (NYSE:HIW) Announces $0.50 Quarterly Dividend

Highwoods Properties, Inc. (NYSE:HIW - Get Free Report) declared a quarterly dividend on Monday, October 21st, Wall Street Journal reports. Investors of record on Monday, November 18th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, December 10th. This represents a $2.00 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Monday, November 18th.

Highwoods Properties has increased its dividend by an average of 1.4% per year over the last three years. Highwoods Properties has a dividend payout ratio of 333.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Highwoods Properties to earn $3.54 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 56.5%.

Highwoods Properties Trading Down 0.0 %

HIW stock traded down $0.01 during mid-day trading on Tuesday, reaching $35.57. 1,335,843 shares of the stock traded hands, compared to its average volume of 982,242. Highwoods Properties has a 52-week low of $17.06 and a 52-week high of $36.55. The stock's fifty day moving average is $32.74 and its 200-day moving average is $28.83. The company has a market cap of $3.77 billion, a P/E ratio of 29.16 and a beta of 1.26. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34.

Highwoods Properties (NYSE:HIW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.31). The firm had revenue of $204.74 million for the quarter, compared to analysts' expectations of $205.06 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The company's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts expect that Highwoods Properties will post 3.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on HIW. Truist Financial raised their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lowered shares of Highwoods Properties from a "buy" rating to a "hold" rating and lifted their target price for the company from $31.00 to $35.00 in a research note on Tuesday, October 1st. Wells Fargo & Company upped their price target on shares of Highwoods Properties from $22.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird lifted their price objective on Highwoods Properties from $27.00 to $30.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.50.

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.