Highwoods Properties (NYSE:HIW) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Highwoods Properties reported earnings of $0.89 EPS, exceeding the estimated $0.86 by $0.03, showcasing strong financial performance.
• The company declared a quarterly dividend of $0.50 per share, representing a 6.61% dividend yield, with a payout ratio of 124.22%.
• Analysts have mixed ratings on Highwoods Properties, with a consensus rating of "Hold" and a price target averaging $32.00.

Highwoods Properties (NYSE:HIW - Get Free Report) posted its earnings results on Tuesday. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.04, Zacks reports. Highwoods Properties had a return on equity of 5.57% and a net margin of 16.15%. The firm had revenue of $200.60 million during the quarter, compared to analysts' expectations of $203.22 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. Highwoods Properties updated its FY 2025 guidance to 3.370-3.450 EPS.

Highwoods Properties Stock Down 1.5%

Shares of NYSE:HIW traded down $0.43 during midday trading on Friday, reaching $28.58. The company had a trading volume of 1,433,367 shares, compared to its average volume of 880,036. Highwoods Properties has a 1-year low of $24.18 and a 1-year high of $36.78. The stock has a market cap of $3.09 billion, a PE ratio of 24.02 and a beta of 1.22. The company has a quick ratio of 1.50, a current ratio of 1.38 and a debt-to-equity ratio of 1.42. The business's 50 day moving average price is $30.74 and its 200 day moving average price is $29.48.

Highwoods Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Monday, August 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.00 annualized dividend and a dividend yield of 7.0%. Highwoods Properties's dividend payout ratio (DPR) is presently 168.07%.

Analyst Ratings Changes

Several research firms have recently weighed in on HIW. Mizuho lifted their price objective on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen upgraded shares of Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, May 19th. Finally, Truist Financial cut shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price objective on the stock. in a research report on Wednesday, July 2nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Highwoods Properties presently has an average rating of "Hold" and an average target price of $32.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Highwoods Properties by 292.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,252 shares during the last quarter. Empowered Funds LLC lifted its stake in Highwoods Properties by 10.4% in the first quarter. Empowered Funds LLC now owns 13,243 shares of the real estate investment trust's stock valued at $393,000 after acquiring an additional 1,248 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Highwoods Properties by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 822,655 shares of the real estate investment trust's stock valued at $24,383,000 after acquiring an additional 110,489 shares during the period. Finally, Royal Bank of Canada grew its position in shares of Highwoods Properties by 12.7% in the 1st quarter. Royal Bank of Canada now owns 177,942 shares of the real estate investment trust's stock valued at $5,275,000 after acquiring an additional 19,998 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.

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.