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.
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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