Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Thursday, April 19th, RTT News reports. Investors of record on Friday, May 18th will be given a dividend of 0.4625 per share by the real estate investment trust on Tuesday, June 5th. This represents a $1.85 annualized dividend and a yield of 4.36%.
Highwoods Properties has raised its dividend by an average of 1.2% per year over the last three years. Highwoods Properties has a dividend payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Highwoods Properties to earn $3.55 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 49.6%.
NYSE:HIW traded down $0.72 during trading hours on Thursday, hitting $42.43. The company’s stock had a trading volume of 597,811 shares, compared to its average volume of 691,015. The firm has a market capitalization of $4,485.63, a PE ratio of 12.89, a price-to-earnings-growth ratio of 4.24 and a beta of 0.74. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.40 and a quick ratio of 1.40. Highwoods Properties has a 52-week low of $41.34 and a 52-week high of $53.34.
Several research firms have issued reports on HIW. Zacks Investment Research upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Stifel Nicolaus restated a “hold” rating and issued a $46.00 price objective (down previously from $50.00) on shares of Highwoods Properties in a research note on Tuesday, March 13th. Finally, SunTrust Banks upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Friday, March 9th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $51.67.
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Highwoods Properties Company Profile
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. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
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