Share Repurchase Program Authorized by Highwoods Properties (NYSE:HIW) Board

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

Highwoods Properties Trading Up 0.9%

Highwoods Properties stock opened at $23.88 on Friday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50-day simple moving average is $22.33 and its 200-day simple moving average is $25.56. The firm has a market capitalization of $2.63 billion, a PE ratio of 16.35 and a beta of 1.05. Highwoods Properties has a 52 week low of $20.45 and a 52 week high of $32.76.

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

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Monday, May 18th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $2.00 dividend on an annualized basis and a yield of 8.4%. Highwoods Properties’s dividend payout ratio (DPR) is 136.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HIW. Wall Street Zen upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Monday, March 23rd. Truist Financial cut their target price on Highwoods Properties from $29.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, March 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $27.00 target price on shares of Highwoods Properties in a report on Thursday, February 19th. Robert W. Baird set a $29.00 price objective on Highwoods Properties in a research note on Wednesday, February 25th. Finally, Mizuho dropped their price objective on Highwoods Properties from $30.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Highwoods Properties presently has a consensus rating of “Hold” and an average price target 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.