Highwoods Properties Inc (HIW) To Go Ex-Dividend on November 13th

Highwoods Properties Inc (NYSE:HIW) announced a quarterly dividend on Friday, October 16th, Wall Street Journal reports. Shareholders of record on Monday, November 16th will be given a dividend of 0.48 per share by the real estate investment trust on Tuesday, December 8th. This represents a $1.92 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend is Friday, November 13th.

Highwoods Properties has raised its dividend payment by 11.8% over the last three years and has increased its dividend every year for the last 1 years. Highwoods Properties has a dividend payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Highwoods Properties to earn $3.59 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 53.5%.

NYSE HIW opened at $33.27 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.01. The stock’s 50 day moving average is $35.34 and its two-hundred day moving average is $36.82. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 2.02 and a beta of 0.96. Highwoods Properties has a 1-year low of $25.10 and a 1-year high of $52.76.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.53). The company had revenue of $183.15 million for the quarter, compared to analyst estimates of $187.69 million. Highwoods Properties had a net margin of 41.15% and a return on equity of 13.93%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, analysts predict that Highwoods Properties will post 3.61 earnings per share for the current year.

In related news, Director Thomas P. Anderson acquired 3,000 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The stock was purchased at an average price of $32.69 per share, for a total transaction of $98,070.00. Following the transaction, the director now directly owns 4,852 shares of the company’s stock, valued at approximately $158,611.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

A number of research firms have weighed in on HIW. ValuEngine downgraded Highwoods Properties from a “sell” rating to a “strong sell” rating in a report on Monday, October 12th. DA Davidson reissued a “buy” rating on shares of Highwoods Properties in a report on Wednesday, July 29th. Morgan Stanley raised Highwoods Properties from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $40.00 to $44.00 in a report on Wednesday, June 24th. Finally, Wells Fargo & Company reduced their target price on Highwoods Properties from $48.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Highwoods Properties has an average rating of “Buy” and a consensus price target of $44.44.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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Dividend History for Highwoods Properties (NYSE:HIW)

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