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

Highwoods Properties (NYSE:HIWGet Rating) posted its quarterly earnings results on Tuesday. The real estate investment trust reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04, MarketWatch Earnings reports. Highwoods Properties had a return on equity of 12.73% and a net margin of 40.63%. During the same period in the previous year, the firm earned $0.91 earnings per share. Highwoods Properties updated its FY 2022 guidance to $3.820-$3.980 EPS and its FY22 guidance to $3.82-3.98 EPS.

Shares of HIW remained flat at $$43.12 during midday trading on Wednesday. The stock had a trading volume of 32,831 shares, compared to its average volume of 777,625. Highwoods Properties has a 1-year low of $40.85 and a 1-year high of $48.98. The stock’s 50-day moving average is $44.14 and its two-hundred day moving average is $44.57. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.99 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.13.

The company also recently declared 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 annualized dividend and a dividend yield of 4.64%. Highwoods Properties’s dividend payout ratio is currently 67.34%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Highwoods Properties by 1.4% during the fourth quarter. Comerica Bank now owns 58,793 shares of the real estate investment trust’s stock worth $2,525,000 after buying an additional 814 shares during the period. Integrated Wealth Concepts LLC boosted 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 buying an additional 1,509 shares during the period. Metropolitan Life Insurance Co NY raised its stake in shares of Highwoods Properties by 6.8% in the fourth 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 acquiring an additional 1,634 shares in the last quarter. Vident Investment Advisory LLC raised its stake in shares of Highwoods Properties by 3.5% in the fourth quarter. Vident Investment Advisory LLC now owns 55,049 shares of the real estate investment trust’s stock valued at $2,454,000 after acquiring an additional 1,859 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Highwoods Properties by 2.6% in the fourth quarter. Amalgamated Bank now owns 76,013 shares of the real estate investment trust’s stock valued at $3,389,000 after acquiring an additional 1,934 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

HIW has been the subject of several analyst reports. Mizuho initiated coverage on Highwoods Properties in a research report on Friday, April 22nd. They issued a “neutral” rating and a $46.00 price objective for the company. Morgan Stanley lowered their price objective on Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, February 10th. Robert W. Baird upgraded Highwoods Properties from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $53.00 in a research report on Wednesday, January 12th. TheStreet upgraded Highwoods Properties from a “c+” rating to a “b-” rating in a research report on Tuesday, March 22nd. Finally, Jefferies Financial Group upgraded Highwoods Properties from a “hold” rating to a “buy” rating and increased their price objective for the stock from $44.00 to $54.00 in a research report on Monday, January 10th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Highwoods Properties has a consensus rating of “Buy” and a consensus price target of $49.60.

About Highwoods Properties (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.

Further Reading

Earnings History for Highwoods Properties (NYSE:HIW)

Receive News & Ratings for Highwoods Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties and related companies with MarketBeat.com's FREE daily email newsletter.