Zacks Research Weighs in on Highwoods Properties, Inc.’s FY2024 Earnings (NYSE:HIW)

Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at Zacks Research dropped their FY2024 EPS estimates for Highwoods Properties in a research note issued to investors on Tuesday, November 7th. Zacks Research analyst R. Fatarpekar now anticipates that the real estate investment trust will post earnings of $3.70 per share for the year, down from their prior forecast of $3.73. The consensus estimate for Highwoods Properties’ current full-year earnings is $3.77 per share. Zacks Research also issued estimates for Highwoods Properties’ Q4 2024 earnings at $0.92 EPS, Q1 2025 earnings at $0.92 EPS, Q2 2025 earnings at $0.93 EPS and FY2025 earnings at $3.66 EPS.

Several other research firms have also recently weighed in on HIW. Mizuho lowered their target price on Highwoods Properties from $31.00 to $24.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Morgan Stanley restated an “equal weight” rating and issued a $22.00 target price on shares of Highwoods Properties in a report on Wednesday, July 19th. Wells Fargo & Company lowered Highwoods Properties from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $27.00 to $22.00 in a report on Wednesday, August 30th. Citigroup upped their price target on Highwoods Properties from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, August 1st. Finally, StockNews.com began coverage on Highwoods Properties in a report on Thursday, October 5th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.83.

Highwoods Properties Trading Up 0.1 %

Shares of HIW opened at $17.99 on Friday. The business’s 50-day moving average price is $20.29 and its 200 day moving average price is $22.10. The stock has a market capitalization of $1.90 billion, a P/E ratio of 13.95 and a beta of 1.21. Highwoods Properties has a 1-year low of $17.06 and a 1-year high of $31.88. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.32.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Monday, November 20th will be paid a $0.50 dividend. The ex-dividend date is Friday, November 17th. This represents a $2.00 annualized dividend and a dividend yield of 11.12%. Highwoods Properties’s dividend payout ratio (DPR) is currently 155.04%.

Institutional Investors Weigh In On Highwoods Properties

Several hedge funds and other institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC grew its stake in shares of Highwoods Properties by 47.4% during the third quarter. William Blair Investment Management LLC now owns 12,506 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 4,021 shares during the period. Davis Selected Advisers grew its stake in shares of Highwoods Properties by 3.5% during the third quarter. Davis Selected Advisers now owns 162,490 shares of the real estate investment trust’s stock worth $3,349,000 after purchasing an additional 5,470 shares during the period. Citigroup Inc. grew its stake in shares of Highwoods Properties by 685.6% during the third quarter. Citigroup Inc. now owns 78,698 shares of the real estate investment trust’s stock worth $1,622,000 after purchasing an additional 68,680 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Highwoods Properties by 38.6% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 70,650 shares of the real estate investment trust’s stock worth $1,456,000 after purchasing an additional 19,673 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Highwoods Properties by 310.2% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,476 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 4,141 shares during the period. 96.31% of the stock is owned by institutional investors and hedge funds.

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.