Highwoods Properties, Inc. Announces Quarterly Dividend of $0.50 (NYSE:HIW)

Highwoods Properties, Inc. (NYSE:HIW) declared a quarterly dividend on Wednesday, January 29th,RTT News reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.50 per share by the real estate investment trust on Tuesday, March 11th. This represents a $2.00 annualized dividend and a dividend yield of 6.77%. The ex-dividend date is Tuesday, February 18th.

Highwoods Properties has increased its dividend payment by an average of 0.7% annually over the last three years. Highwoods Properties has a payout ratio of 350.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Highwoods Properties to earn $3.43 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 58.3%.

Highwoods Properties Price Performance

Highwoods Properties stock opened at $29.55 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average price of $30.48 and a 200 day moving average price of $31.59. Highwoods Properties has a 12-month low of $21.46 and a 12-month high of $36.78. The stock has a market cap of $3.13 billion, a P/E ratio of 22.05 and a beta of 1.24.

Analyst Ratings Changes

HIW has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Highwoods Properties from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Robert W. Baird lifted their target price on Highwoods Properties from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group decreased their price target on Highwoods Properties from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, Mizuho raised their price objective on Highwoods Properties from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.86.

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.