Highwoods Properties (NYSE:HIW – Get Free Report) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74), Yahoo Finance reports. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The business had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. During the same period in the previous year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Highwoods Properties updated its FY24 guidance to $3.59-3.63 EPS and its FY 2024 guidance to 3.590-3.630 EPS.
Highwoods Properties Stock Performance
Shares of NYSE HIW traded up $0.65 during midday trading on Wednesday, reaching $36.24. 374,856 shares of the stock were exchanged, compared to its average volume of 979,283. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 29.82 and a beta of 1.26. The firm has a 50-day simple moving average of $32.83 and a two-hundred day simple moving average of $28.90. Highwoods Properties has a twelve month low of $17.06 and a twelve month high of $36.78.
Highwoods Properties Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend is Monday, November 18th. Highwoods Properties’s payout ratio is presently 163.93%.
Analysts Set New Price Targets
Read Our Latest Stock Analysis on HIW
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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