Highwoods Properties (HIW) Set to Announce Quarterly Earnings on Tuesday

Highwoods Properties (NYSE:HIW) is set to release its earnings data after the market closes on Tuesday, October 22nd. Analysts expect Highwoods Properties to post earnings of $0.89 per share for the quarter. Highwoods Properties has set its FY 2024 guidance at 3.540-3.620 EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Highwoods Properties (NYSE:HIW) last posted its earnings results 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 quarter in the previous year, the firm earned $0.94 earnings per share. Highwoods Properties’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts expect Highwoods Properties to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Highwoods Properties Price Performance

HIW opened at $34.24 on Tuesday. The stock has a 50-day moving average price of $32.21 and a 200-day moving average price of $28.45. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $34.35. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $3.63 billion, a P/E ratio of 28.07 and a beta of 1.26.

Highwoods Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date was Monday, August 19th. Highwoods Properties’s payout ratio is currently 163.93%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HIW shares. Deutsche Bank Aktiengesellschaft cut Highwoods Properties from a “buy” rating to a “hold” rating and upped their price objective for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Robert W. Baird increased their target price on Highwoods Properties from $27.00 to $30.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Finally, Truist Financial increased their target price on Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.86.

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.