Highwoods Properties, Inc. (NYSE:HIW) Announces Quarterly Dividend of $0.50

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Thursday, January 29th. Investors of record on Tuesday, February 17th will be given a dividend of 0.50 per share by the real estate investment trust on Tuesday, March 10th. This represents a c) dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, February 17th.

Highwoods Properties has increased its dividend by an average of 0.0%per year over the last three years. Highwoods Properties has a payout ratio of 289.9% indicating that 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 $3.59 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 55.7%.

Highwoods Properties Stock Performance

HIW traded down $0.17 during trading on Friday, reaching $25.73. 58,422 shares of the company were exchanged, compared to its average volume of 1,149,815. Highwoods Properties has a 52 week low of $24.18 and a 52 week high of $32.76. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $26.45 and a 200 day moving average of $28.88. The stock has a market cap of $2.83 billion, a P/E ratio of 22.01 and a beta of 1.07.

Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 28th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.86. The company had revenue of $201.77 million during the quarter, compared to the consensus estimate of $205.74 million. Highwoods Properties had a net margin of 15.98% and a return on equity of 5.48%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. On average, sell-side analysts forecast that Highwoods Properties will post 3.36 EPS for the current fiscal year.

Highwoods Properties Company Profile

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.