Highwoods Properties (NYSE:HIW – Get Free Report) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.74), Yahoo Finance reports. Highwoods Properties had a net margin of 18.30% and a return on equity of 6.33%. The firm had revenue of $204.30 million for the quarter, compared to analyst estimates of $204.96 million. During the same quarter in the previous year, the company earned $0.93 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Highwoods Properties updated its FY24 guidance to $3.59-3.63 EPS and its FY 2024 guidance to 3.590-3.630 EPS.
Highwoods Properties Stock Down 0.5 %
Shares of HIW traded down $0.18 during mid-day trading on Thursday, reaching $35.57. The company’s stock had a trading volume of 1,521,910 shares, compared to its average volume of 988,643. The business has a fifty day moving average of $32.92 and a 200 day moving average of $28.95. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 29.30 and a beta of 1.26. Highwoods Properties has a 1 year low of $17.06 and a 1 year high of $36.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.34.
Highwoods Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $0.50 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.62%. Highwoods Properties’s payout ratio is currently 163.93%.
Analyst Upgrades and Downgrades
Read Our Latest Stock Analysis on HIW
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.
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