Highwoods Properties (NYSE:HIW – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.59-3.63 for the period, compared to the consensus EPS estimate of $3.60. Highwoods Properties also updated its FY 2024 guidance to 3.590-3.630 EPS.
Highwoods Properties Stock Up 2.2 %
Highwoods Properties stock traded up $0.78 during mid-day trading on Wednesday, reaching $36.37. 177,951 shares of the company were exchanged, compared to its average volume of 978,323. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $3.86 billion, a P/E ratio of 29.82 and a beta of 1.26. The business has a fifty day moving average of $32.83 and a 200 day moving average of $28.90. Highwoods Properties has a 12-month low of $17.06 and a 12-month high of $36.78.
Highwoods Properties (NYSE:HIW – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.74). Highwoods Properties had a return on equity of 6.33% and a net margin of 18.30%. The company had revenue of $204.30 million for the quarter, compared to analysts’ expectations of $204.96 million. During the same quarter last year, the company earned $0.93 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts anticipate that Highwoods Properties will post 3.6 earnings per share for the current fiscal year.
Highwoods Properties Dividend Announcement
Wall Street Analysts Forecast Growth
HIW has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Highwoods Properties from $22.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating and increased their price target for the stock from $31.00 to $35.00 in a report on Tuesday, October 1st. Robert W. Baird increased their price objective on shares of Highwoods Properties from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Truist Financial boosted their target price on shares of Highwoods Properties from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.50.
Read Our Latest Stock Analysis on Highwoods Properties
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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