Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, August 2nd, RTT News reports. Stockholders of record on Monday, August 14th will be paid a dividend of 0.44 per share by the real estate investment trust on Wednesday, September 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Thursday, August 10th.
Highwoods Properties has a payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Highwoods Properties to earn $3.52 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 50.0%.
Highwoods Properties (HIW) traded down 0.90% during mid-day trading on Friday, hitting $50.90. The stock had a trading volume of 555,656 shares. Highwoods Properties has a 52-week low of $45.83 and a 52-week high of $54.25. The firm has a 50-day moving average of $50.57 and a 200-day moving average of $50.71. The stock has a market cap of $5.25 billion, a P/E ratio of 40.59 and a beta of 0.88.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. Highwoods Properties’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, analysts forecast that Highwoods Properties will post $1.19 EPS for the current fiscal year.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. Following the transaction, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.
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Several equities analysts recently commented on the company. BidaskClub raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine lowered Highwoods Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $55.00.
Highwoods Properties Company Profile
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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