Highwoods Properties (NYSE:HIW) Releases 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) issued 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 net margin of 21.53% and a return on equity of 7.43%. The business's revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Highwoods Properties updated its FY 2025 guidance to 3.370-3.450 EPS.

Highwoods Properties Stock Performance

Shares of NYSE HIW traded up $0.52 during midday trading on Tuesday, hitting $30.25. 1,801,546 shares of the company's stock traded hands, compared to its average volume of 961,177. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 18.79 and a beta of 1.21. The firm has a fifty day moving average of $30.75 and a 200 day moving average of $29.48. Highwoods Properties has a 1 year low of $24.18 and a 1 year high of $36.78.

Highwoods Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Monday, August 18th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.00 annualized dividend and a yield of 6.61%. Highwoods Properties's payout ratio is 124.22%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Truist Financial downgraded shares of Highwoods Properties from a "buy" rating to a "hold" rating and set a $32.00 price objective for the company. in a report on Wednesday, July 2nd. Wells Fargo & Company lowered their price target on shares of Highwoods Properties from $35.00 to $31.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Wall Street Zen raised Highwoods Properties from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Mizuho upped their price target on Highwoods Properties from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $32.00.

Institutional Trading of Highwoods Properties

Institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. lifted its position in shares of Highwoods Properties by 292.5% during the first quarter. Geneos Wealth Management Inc. now owns 1,680 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,252 shares during the last quarter. Empowered Funds LLC increased its stake in Highwoods Properties by 10.4% in the 1st quarter. Empowered Funds LLC now owns 13,243 shares of the real estate investment trust's stock worth $393,000 after buying an additional 1,248 shares during the period. Royal Bank of Canada lifted its holdings in Highwoods Properties by 12.7% during 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 buying an additional 19,998 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in 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 buying an additional 110,489 shares during the period. Hedge funds and other institutional investors own 96.31% of the company's stock.

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.