FY2024 EPS Estimates for Highwoods Properties, Inc. (NYSE:HIW) Cut by Analyst

Highwoods Properties, Inc. (NYSE:HIWGet Rating) – Equities research analysts at Jefferies Financial Group cut their FY2024 earnings per share (EPS) estimates for shares of Highwoods Properties in a report released on Tuesday, November 22nd. Jefferies Financial Group analyst P. Abramowitz now expects that the real estate investment trust will post earnings of $3.86 per share for the year, down from their previous forecast of $3.96. The consensus estimate for Highwoods Properties’ current full-year earnings is $4.04 per share. Jefferies Financial Group also issued estimates for Highwoods Properties’ FY2025 earnings at $3.93 EPS.

Other equities research analysts have also issued research reports about the company. Truist Financial decreased their price target on Highwoods Properties to $36.00 in a research note on Wednesday, November 16th. Wells Fargo & Company boosted their price target on Highwoods Properties from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com began coverage on Highwoods Properties in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Robert W. Baird lowered Highwoods Properties from an “outperform” rating to a “neutral” rating and set a $31.00 price target on the stock. in a research note on Monday, October 10th. Finally, Credit Suisse Group reduced their target price on Highwoods Properties to $27.00 in a research note on Thursday, October 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $32.00.

Highwoods Properties Price Performance

Shares of NYSE:HIW opened at $28.75 on Thursday. The business’s 50 day simple moving average is $27.60 and its 200-day simple moving average is $32.25. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 11.98 and a beta of 1.09. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. Highwoods Properties has a 12 month low of $24.51 and a 12 month high of $47.44.

Highwoods Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Monday, November 21st will be issued a $0.50 dividend. The ex-dividend date is Friday, November 18th. This represents a $2.00 annualized dividend and a yield of 6.96%. Highwoods Properties’s dividend payout ratio is currently 83.33%.

Insider Activity at Highwoods Properties

In other news, CFO Brendan C. Maiorana acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was bought at an average cost of $27.21 per share, with a total value of $40,815.00. Following the transaction, the chief financial officer now directly owns 39,254 shares in the company, valued at approximately $1,068,101.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brendan C. Maiorana purchased 1,500 shares of Highwoods Properties stock in a transaction dated Wednesday, September 28th. The shares were acquired at an average price of $27.21 per share, with a total value of $40,815.00. Following the completion of the transaction, the chief financial officer now owns 39,254 shares of the company’s stock, valued at approximately $1,068,101.34. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jeffrey Douglas Miller acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were acquired at an average price of $28.25 per share, for a total transaction of $28,250.00. Following the purchase, the executive vice president now owns 116,482 shares of the company’s stock, valued at $3,290,616.50. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,500 shares of company stock worth $210,315. Corporate insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Highwoods Properties

Several large investors have recently made changes to their positions in the company. Cohen & Steers Inc. boosted its holdings in Highwoods Properties by 9.4% during the third quarter. Cohen & Steers Inc. now owns 17,239,625 shares of the real estate investment trust’s stock worth $464,708,000 after buying an additional 1,475,867 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Highwoods Properties by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,319,629 shares of the real estate investment trust’s stock valued at $439,978,000 after buying an additional 193,977 shares during the period. State Street Corp boosted its stake in shares of Highwoods Properties by 0.9% during the 2nd quarter. State Street Corp now owns 6,399,371 shares of the real estate investment trust’s stock valued at $218,794,000 after buying an additional 55,672 shares during the period. FMR LLC boosted its stake in shares of Highwoods Properties by 3.4% during the 2nd quarter. FMR LLC now owns 5,312,711 shares of the real estate investment trust’s stock valued at $181,641,000 after buying an additional 175,377 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Highwoods Properties by 3.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,251,325 shares of the real estate investment trust’s stock valued at $60,695,000 after buying an additional 68,008 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Highwoods Properties Company Profile

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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.

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

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