Highwoods Properties (NYSE:HIW) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Highwoods Properties (NYSE:HIW - Get Free Report) released its earnings results on Tuesday. The real estate investment trust reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.01, Zacks reports. Highwoods Properties had a net margin of 12.37% and a return on equity of 4.33%.

Highwoods Properties Stock Performance

HIW traded down $0.69 on Tuesday, reaching $27.72. The company had a trading volume of 1,636,079 shares, compared to its average volume of 911,837. The company's fifty day moving average is $28.25 and its 200 day moving average is $30.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $2.99 billion, a P/E ratio of 29.18 and a beta of 1.15. Highwoods Properties has a fifty-two week low of $24.07 and a fifty-two week high of $36.78.

Highwoods Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Monday, May 19th. Highwoods Properties's payout ratio is 210.53%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HIW shares. Truist Financial dropped their target price on Highwoods Properties from $33.00 to $32.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Mizuho increased their price objective on Highwoods Properties from $24.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Jefferies Financial Group started coverage on shares of Highwoods Properties in a research note on Monday, March 17th. They issued a "buy" rating and a $32.00 target price for the company. Finally, StockNews.com cut shares of Highwoods Properties from a "hold" rating to a "sell" rating in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $32.50.

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.

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