Highwoods Properties (NYSE:HIW) Updates FY 2022 Earnings Guidance

Highwoods Properties (NYSE:HIWGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $3.92-$4.00 for the period. The company issued revenue guidance of -.

Highwoods Properties Stock Performance

Shares of Highwoods Properties stock traded up $0.50 during mid-day trading on Friday, hitting $35.57. 756,513 shares of the stock were exchanged, compared to its average volume of 778,224. Highwoods Properties has a 12 month low of $32.62 and a 12 month high of $48.82. The company has a 50-day simple moving average of $35.51 and a 200 day simple moving average of $40.51. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $3.74 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.29 and a beta of 1.10.

Highwoods Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 13th. Shareholders of record on Monday, August 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Friday, August 19th. This represents a $2.00 annualized dividend and a dividend yield of 5.62%. Highwoods Properties’s dividend payout ratio is currently 70.67%.

Wall Street Analyst Weigh In

HIW has been the topic of several recent analyst reports. TheStreet cut shares of Highwoods Properties from a b- rating to a c+ rating in a research report on Friday, June 17th. Credit Suisse Group initiated coverage on shares of Highwoods Properties in a research report on Wednesday, June 22nd. They set a neutral rating and a $34.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of Highwoods Properties from $55.00 to $40.00 and set an overweight rating on the stock in a research report on Friday, July 1st. Jefferies Financial Group cut shares of Highwoods Properties from a buy rating to a hold rating and lowered their price target for the stock from $46.00 to $35.00 in a report on Thursday, June 30th. Finally, Truist Financial lowered their price target on shares of Highwoods Properties from $48.00 to $42.00 and set a buy rating on the stock in a report on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $39.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of HIW. State Street Corp grew its stake in Highwoods Properties by 14.0% in the 1st quarter. State Street Corp now owns 6,343,699 shares of the real estate investment trust’s stock valued at $290,161,000 after buying an additional 781,475 shares in the last quarter. Vanguard Group Inc. grew its stake in Highwoods Properties by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 15,829,467 shares of the real estate investment trust’s stock valued at $724,040,000 after buying an additional 699,104 shares in the last quarter. Northern Trust Corp grew its stake in Highwoods Properties by 30.9% in the 1st quarter. Northern Trust Corp now owns 2,086,478 shares of the real estate investment trust’s stock valued at $95,435,000 after buying an additional 492,851 shares in the last quarter. Invesco Ltd. grew its stake in Highwoods Properties by 60.4% in the 1st quarter. Invesco Ltd. now owns 650,921 shares of the real estate investment trust’s stock valued at $29,773,000 after buying an additional 245,130 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC grew its stake in Highwoods Properties by 34.2% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 669,673 shares of the real estate investment trust’s stock valued at $30,631,000 after buying an additional 170,613 shares in the last quarter. 98.16% of the stock is currently owned by hedge funds and other institutional investors.

About Highwoods Properties

(Get Rating)

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

Read More

Earnings History and Estimates for Highwoods Properties (NYSE:HIW)

Receive News & Ratings for Highwoods Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties and related companies with MarketBeat.com's FREE daily email newsletter.