Highwoods Properties, Inc. (HIW) to Issue Quarterly Dividend of $0.50 on June 10th

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, April 23rd, RTT News reports. Stockholders of record on Monday, May 19th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend is Monday, May 19th.

Highwoods Properties has a dividend payout ratio of 266.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Highwoods Properties to earn $3.59 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 55.7%.

Highwoods Properties Trading Up 0.7 %

NYSE:HIW opened at $28.29 on Friday. The firm has a market cap of $3.05 billion, a P/E ratio of 29.78 and a beta of 1.15. The firm has a 50-day simple moving average of $28.27 and a 200-day simple moving average of $30.34. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.25 and a current ratio of 1.25. Highwoods Properties has a one year low of $24.07 and a one year high of $36.78.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. Highwoods Properties had a return on equity of 4.33% and a net margin of 12.37%. Equities analysts anticipate that Highwoods Properties will post 3.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HIW. Mizuho raised their price target on shares of Highwoods Properties from $24.00 to $29.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Jefferies Financial Group assumed coverage on shares of Highwoods Properties in a report on Monday, March 17th. They issued a “buy” rating and a $32.00 price target on the stock. Truist Financial decreased their price objective on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, StockNews.com downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.50.

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.