Highwoods Properties (NYSE:HIW) Board Approves Stock Buyback Program

Highwoods Properties (NYSE:HIW) declared that its Board of Directors has authorized a stock buyback program on Wednesday, April 22nd, RTT News reports. The company plans to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 9.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Highwoods Properties Stock Down 0.6%

Shares of NYSE:HIW opened at $23.73 on Thursday. The firm’s 50 day moving average price is $22.29 and its 200 day moving average price is $25.63. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 16.25 and a beta of 1.05. Highwoods Properties has a fifty-two week low of $20.45 and a fifty-two week high of $32.76. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.51.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, February 10th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.58). The firm had revenue of $203.36 million during the quarter, compared to analyst estimates of $208.08 million. Highwoods Properties had a net margin of 20.10% and a return on equity of 6.86%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. Highwoods Properties has set its FY 2026 guidance at 3.400-3.680 EPS. As a group, equities research analysts predict that Highwoods Properties will post 3.55 earnings per share for the current fiscal year.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 17th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $2.00 annualized dividend and a yield of 8.4%. Highwoods Properties’s dividend payout ratio (DPR) is 136.99%.

Wall Street Analyst Weigh In

HIW has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $27.00 price target on shares of Highwoods Properties in a research report on Thursday, February 19th. Mizuho reduced their price target on shares of Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Wall Street Zen raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Monday, March 23rd. Truist Financial reduced their price target on shares of Highwoods Properties from $29.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, March 17th. Finally, Citigroup reduced their price target on shares of Highwoods Properties from $30.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Highwoods Properties presently has an average rating of “Hold” and an average target price of $27.67.

About Highwoods Properties

Highwoods Properties, Inc is a publicly traded real estate investment trust (REIT) that acquires, develops, leases and manages office properties. The company’s portfolio is primarily focused on Class A office space, with an emphasis on high-quality buildings in key urban and suburban submarkets. Highwoods seeks to generate long-term, recurring revenues through a mix of in-place lease renewals, strategic dispositions and build-to-suit developments. Its asset management platform drives operational efficiencies and tenant service initiatives across its holdings.

Founded in 1970 and headquartered in Raleigh, North Carolina, Highwoods Properties has expanded its presence to eight major metropolitan regions across the Southeastern United States and Texas.