Highwoods Properties, Inc. (NYSE:HIW) announced a quarterly dividend on Thursday, April 19th, RTT News reports. Stockholders of record on Friday, May 18th will be given a dividend of 0.4625 per share by the real estate investment trust on Tuesday, June 5th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.36%.
Highwoods Properties has increased its dividend by an average of 1.2% per year over the last three years. Highwoods Properties has a dividend payout ratio of 52.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Highwoods Properties to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 49.6%.
NYSE:HIW opened at $42.43 on Friday. Highwoods Properties has a fifty-two week low of $41.34 and a fifty-two week high of $53.34. The stock has a market capitalization of $4,456.71, a PE ratio of 12.94, a PEG ratio of 4.21 and a beta of 0.74. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.91.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.28). Highwoods Properties had a net margin of 26.20% and a return on equity of 8.46%. The firm had revenue of $175.86 million during the quarter, compared to the consensus estimate of $177.14 million. equities research analysts forecast that Highwoods Properties will post 3.42 EPS for the current year.
Several brokerages recently commented on HIW. Wells Fargo began coverage on shares of Highwoods Properties in a research report on Friday. They issued an “outperform” rating and a $49.00 price objective for the company. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $46.00 price objective (down from $50.00) on shares of Highwoods Properties in a research report on Tuesday, March 13th. SunTrust Banks raised shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Friday, March 9th. They noted that the move was a valuation call. Finally, ValuEngine lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $51.00.
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About Highwoods Properties
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. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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