Highwoods Properties, Inc. (NYSE:HIW) Announces Quarterly Dividend of $0.50

Highwoods Properties, Inc. (NYSE:HIWGet Rating) announced a quarterly dividend on Friday, April 22nd, Wall Street Journal reports. Shareholders of record on Monday, May 23rd will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Friday, May 20th.

Highwoods Properties has a dividend payout ratio of 156.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Highwoods Properties to earn $3.97 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 50.4%.

NYSE:HIW traded down $0.94 on Friday, reaching $43.92. 31,335 shares of the stock traded hands, compared to its average volume of 787,671. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08. The company’s 50 day moving average is $44.11 and its 200-day moving average is $44.59. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.13. Highwoods Properties has a 1-year low of $40.85 and a 1-year high of $48.98.

Highwoods Properties (NYSE:HIWGet Rating) last posted its quarterly earnings results on Monday, February 7th. The real estate investment trust reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.47. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $199.79 million. Highwoods Properties had a return on equity of 12.73% and a net margin of 40.63%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 EPS. On average, equities research analysts forecast that Highwoods Properties will post 3.87 EPS for the current fiscal year.

A number of equities analysts have issued reports on HIW shares. TheStreet upgraded Highwoods Properties from a “c+” rating to a “b-” rating in a report on Tuesday, March 22nd. StockNews.com cut Highwoods Properties from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. Robert W. Baird upgraded Highwoods Properties from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $53.00 in a report on Wednesday, January 12th. Morgan Stanley cut their price target on Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, February 10th. Finally, Mizuho began coverage on Highwoods Properties in a report on Friday. They set a “neutral” rating and a $46.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $49.60.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Highwoods Properties by 1.4% in the 4th quarter. Comerica Bank now owns 58,793 shares of the real estate investment trust’s stock valued at $2,525,000 after buying an additional 814 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Highwoods Properties by 30.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 6,488 shares of the real estate investment trust’s stock valued at $289,000 after purchasing an additional 1,509 shares during the last quarter. Metropolitan Life Insurance Co NY increased its position in shares of Highwoods Properties by 6.8% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 25,527 shares of the real estate investment trust’s stock valued at $1,138,000 after purchasing an additional 1,634 shares during the last quarter. Vident Investment Advisory LLC increased its position in shares of Highwoods Properties by 3.5% during the 4th quarter. Vident Investment Advisory LLC now owns 55,049 shares of the real estate investment trust’s stock valued at $2,454,000 after purchasing an additional 1,859 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Highwoods Properties by 2.6% during the 4th quarter. Amalgamated Bank now owns 76,013 shares of the real estate investment trust’s stock valued at $3,389,000 after purchasing an additional 1,934 shares during the last quarter. 96.35% of the stock is owned by institutional investors and hedge funds.

Highwoods Properties Company Profile (Get Rating)

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

See Also

Dividend History for Highwoods Properties (NYSE:HIW)

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