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

Highwoods Properties, Inc. (NYSE:HIW) announced a quarterly dividend on Wednesday, July 17th, Wall Street Journal reports. Shareholders of record on Monday, August 19th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date of this dividend is Monday, August 19th.

Highwoods Properties has increased its dividend by an average of 1.4% per year over the last three years. Highwoods Properties has a payout ratio of 344.8% indicating that 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 $3.55 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 56.3%.

Highwoods Properties Stock Down 0.8 %

Shares of NYSE:HIW opened at $31.70 on Friday. Highwoods Properties has a one year low of $17.06 and a one year high of $32.22. The firm has a fifty day moving average price of $28.01 and a two-hundred day moving average price of $26.01. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 25.98 and a beta of 1.26.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.59 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.31). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The business had revenue of $204.74 million for the quarter, compared to analysts’ expectations of $205.06 million. During the same period in the previous year, the firm posted $0.94 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Analysts anticipate that Highwoods Properties will post 3.58 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on HIW shares. Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Highwoods Properties from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Robert W. Baird lifted their target price on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.86.

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.