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

Highwoods Properties (NYSE:HIW) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.460-3.610 for the period, compared to the consensus earnings per share estimate of 3.570. The company issued revenue guidance of -. Highwoods Properties also updated its FY24 guidance to $3.46-3.61 EPS.

Highwoods Properties Stock Performance

Shares of HIW traded up $0.74 during midday trading on Tuesday, reaching $25.45. 916,579 shares of the stock were exchanged, compared to its average volume of 1,269,485. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 17.78 and a beta of 1.23. Highwoods Properties has a twelve month low of $17.06 and a twelve month high of $26.27. The business’s 50-day moving average price is $24.50 and its 200 day moving average price is $22.19. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.24 and a quick ratio of 1.24.

Highwoods Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.86%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties’s payout ratio is 143.89%.

Analysts Set New Price Targets

Several brokerages have recently commented on HIW. Robert W. Baird boosted their price target on Highwoods Properties from $25.00 to $26.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Truist Financial boosted their price target on Highwoods Properties from $28.00 to $29.00 and gave the stock a buy rating in a research note on Tuesday, February 13th. Morgan Stanley boosted their price target on Highwoods Properties from $18.00 to $21.00 and gave the stock an underweight rating in a research note on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Highwoods Properties in a research note on Tuesday, January 30th. They issued a buy rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $24.38.

About Highwoods Properties

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.