Highwoods Properties, Inc. (HIW) To Go Ex-Dividend on February 18th

Highwoods Properties, Inc. (NYSE:HIW) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, March 11th. This represents a $2.00 annualized dividend and a yield of 6.84%. The ex-dividend date is Tuesday, February 18th.

Highwoods Properties has increased its dividend by an average of 0.7% annually over the last three years. Highwoods Properties has a payout ratio of 350.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Highwoods Properties to earn $3.43 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 58.3%.

Highwoods Properties Stock Down 0.1 %

Shares of NYSE:HIW opened at $29.23 on Friday. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 21.82 and a beta of 1.24. The company has a 50 day moving average of $29.86 and a two-hundred day moving average of $31.62. Highwoods Properties has a 52-week low of $22.60 and a 52-week high of $36.78. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.41.

Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, February 11th. The real estate investment trust reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. Highwoods Properties had a return on equity of 6.05% and a net margin of 17.40%. As a group, analysts forecast that Highwoods Properties will post 3.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HIW shares. Jefferies Financial Group decreased their price target on shares of Highwoods Properties from $35.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Robert W. Baird lifted their target price on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Truist Financial dropped their price target on Highwoods Properties from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their price objective on Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Highwoods Properties has a consensus rating of “Hold” and a consensus target price of $30.71.

Highwoods Properties Company Profile

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.