Highwoods Properties (NYSE:HIW) Updates FY 2022 Earnings Guidance

Highwoods Properties (NYSE:HIW – Get Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.820-$3.980 for the period. The company issued revenue guidance of -.

Several analysts recently weighed in on the company. Robert W. Baird raised Highwoods Properties from a neutral rating to an outperform rating and raised their price objective for the company from $50.00 to $53.00 in a research note on Wednesday, January 12th. Mizuho assumed coverage on Highwoods Properties in a research note on Friday. They issued a neutral rating and a $46.00 price objective on the stock. StockNews.com lowered Highwoods Properties from a buy rating to a hold rating in a research note on Saturday, April 16th. 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 research note on Thursday, February 10th. Finally, TheStreet raised Highwoods Properties from a c+ rating to a b- rating in a research note on Tuesday, March 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Highwoods Properties has an average rating of Buy and an average price target of $49.60.

Shares of HIW stock traded down $0.85 during mid-day trading on Tuesday, reaching $43.12. 455,847 shares of the stock traded hands, compared to its average volume of 777,625. The stock’s fifty day simple moving average is $44.16 and its two-hundred day simple moving average is $44.58. Highwoods Properties has a 1-year low of $40.85 and a 1-year high of $48.98. The company has a market cap of $4.52 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 2.99 and a beta of 1.08. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.13.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Monday, May 23rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, May 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.64%. Highwoods Properties’s dividend payout ratio (DPR) is 67.34%.

Institutional investors and hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC raised its position in shares of Highwoods Properties by 155.2% during the fourth quarter. Penserra Capital Management LLC now owns 4,918 shares of the real estate investment trust’s stock worth $219,000 after acquiring an additional 2,991 shares during the last quarter. LPL Financial LLC bought a new position in shares of Highwoods Properties during the third quarter worth about $220,000. Integrated Wealth Concepts LLC raised its position in shares of Highwoods Properties by 30.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,488 shares of the real estate investment trust’s stock worth $289,000 after acquiring an additional 1,509 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Highwoods Properties in the fourth quarter worth approximately $454,000. Finally, Jane Street Group LLC increased its holdings in Highwoods Properties by 133.7% in the third quarter. Jane Street Group LLC now owns 13,487 shares of the real estate investment trust’s stock worth $592,000 after purchasing an additional 7,716 shares in the last quarter. Institutional investors own 96.35% of the company’s stock.

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.

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