Highwoods Properties (NYSE:HIW – Get Free Report) posted its earnings results on Tuesday. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74), Yahoo Finance reports. The firm had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 earnings per share. 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 $0.58 on Wednesday, hitting $36.17. The company’s stock had a trading volume of 326,541 shares, compared to its average volume of 979,048. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 29.82 and a beta of 1.26. The stock’s 50-day moving average is $32.83 and its two-hundred day moving average is $28.90. Highwoods Properties has a 12 month low of $17.06 and a 12 month high of $36.78. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29.
Highwoods Properties Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 5.53%. The ex-dividend date is Monday, November 18th. Highwoods Properties’s dividend payout ratio (DPR) is 163.93%.
Analyst Upgrades and Downgrades
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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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