Highwoods Properties said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.50 per share ($2.00 annualized). Shareholders of record as of February 17, 2023 will receive the payment on March 14, 2023. Previously, the company paid $0.50 per share.
At the current share price of $30.80 / share, the stock's dividend yield is 6.49%. Looking back five years and taking a sample every week, the average dividend yield has been 4.74%, the lowest has been 3.61%, and the highest has been 7.95%. The standard deviation of yields is 0.90 (n=237).
The current dividend yield is 1.95 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.82. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.05%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 4.65% Upside
As of February 4, 2023, the average one-year price target for Highwoods Properties is $32.23. The forecasts range from a low of $27.27 to a high of $37.80. The average price target represents an increase of 4.65% from its latest reported closing price of $30.80.
The projected annual revenue for Highwoods Properties is $852MM, an increase of 3.71%. The projected annual EPS is $1.12, a decrease of 53.80%.
Fund Sentiment
There are 723 funds or institutions reporting positions in Highwoods Properties. This is a decrease of 26 owner(s) or 3.47%.
Average portfolio weight of all funds dedicated to US:HIW is 0.2088%, a decrease of 5.2130%. Total shares owned by institutions decreased in the last three months by 1.26% to 119,777K shares.
What are large shareholders doing?
Cohen & Steers holds 17,239,625 shares representing 16.39% ownership of the company. In it's prior filing, the firm reported owning 15,763,758 shares, representing an increase of 8.56%. The firm decreased its portfolio allocation in HIW by 1.80% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 4,782,298 shares representing 4.55% ownership of the company. In it's prior filing, the firm reported owning 4,810,987 shares, representing a decrease of 0.60%. The firm decreased its portfolio allocation in HIW by 5.00% over the last quarter.
CSRSX - Cohen & Steers Realty Shares Class L holds 4,171,233 shares representing 3.97% ownership of the company. In it's prior filing, the firm reported owning 3,786,007 shares, representing an increase of 9.24%. The firm increased its portfolio allocation in HIW by 12.78% over the last quarter.
CSRIX - Cohen & Steers Institutional Realty Shares holds 3,861,323 shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 3,340,741 shares, representing an increase of 13.48%. The firm decreased its portfolio allocation in HIW by 0.03% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,139,013 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 3,088,788 shares, representing an increase of 1.60%. The firm decreased its portfolio allocation in HIW by 16.47% over the last quarter.
Highwoods Properties Background Information
(This description is provided by the company.)
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.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
