Highwoods Properties (NYSE:HIW) Issues FY 2024 Earnings Guidance

Highwoods Properties (NYSE:HIW - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.590-3.630 for the period, compared to the consensus estimate of 3.590. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.59-3.63 EPS.

Highwoods Properties Stock Performance

HIW traded down $0.01 on Tuesday, hitting $35.57. The company's stock had a trading volume of 1,335,843 shares, compared to its average volume of 982,242. Highwoods Properties has a 12 month low of $17.06 and a 12 month high of $36.55. The firm 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 quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. The company's 50 day simple moving average is $32.74 and its 200-day simple moving average is $28.83.

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

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date is Monday, November 18th. Highwoods Properties's payout ratio is presently 163.93%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HIW shares. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and increased their price target for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Wells Fargo & Company increased their target price 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. Truist Financial boosted their price target on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Finally, Robert W. Baird upped their price target on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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.