Highwoods Properties (NYSE:HIW) Posts Earnings Results

Highwoods Properties (NYSE:HIW) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.68, Briefing.com reports. The company had revenue of $218.18 million for the quarter, compared to the consensus estimate of $216.39 million. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS.

Highwoods Properties Trading Down 1.6%

NYSE HIW opened at $29.89 on Wednesday. The firm has a 50-day simple moving average of $30.23 and a 200 day simple moving average of $27.47. Highwoods Properties has a twelve month low of $20.45 and a twelve month high of $35.44.

Highwoods Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Monday, November 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Monday, November 16th.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HIW shares. Morgan Stanley increased their target price on Highwoods Properties from $23.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Mizuho set a $32.00 price target on Highwoods Properties in a report on Tuesday, September 8th. Weiss Ratings upgraded Highwoods Properties from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 31st. Citigroup increased their price objective on Highwoods Properties from $24.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research note on Wednesday, August 5th. Eight analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Company Profile

Highwoods Properties, Inc (NYSE: HIW) is a real estate investment trust that owns, develops, leases and manages primarily office properties. Its portfolio includes office towers, campuses and mixed-use assets designed to serve businesses across a range of industries.

The company focuses on select high-growth markets in the U.S. Sun Belt, including Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond and Tampa. In addition to leasing office space, Highwoods provides property management, development and tenant-support services for its buildings and commercial real estate customers.

Highwoods Properties is headquartered in Raleigh, North Carolina.