Highwoods Properties (NYSE:HIW – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. 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.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on HIW shares. Deutsche Bank Aktiengesellschaft lowered Highwoods Properties from a “buy” rating to a “hold” rating and lifted their target price for the company from $31.00 to $35.00 in a report on Tuesday, October 1st. Truist Financial boosted their price objective on Highwoods Properties from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their target price on shares of Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Robert W. Baird lifted their price target on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Highwoods Properties currently has an average rating of “Hold” and a consensus price target of $28.50.
Check Out Our Latest Report on Highwoods Properties
Highwoods Properties Stock Up 0.0 %
Highwoods Properties (NYSE:HIW – Get Free Report) last posted its 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 net margin of 18.30% and a return on equity of 6.33%. The company had revenue of $204.74 million during the quarter, compared to analysts’ expectations of $205.06 million. During the same period last year, the business earned $0.94 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, analysts forecast that Highwoods Properties will post 3.6 EPS for the current fiscal year.
Highwoods Properties Dividend Announcement
The company also recently disclosed 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 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is 163.93%.
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.
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