If You Invested $1,000 In Highwoods Properties Stock 20 Years Ago, How Much Would You Have Now?
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Highwoods Properties, Inc. (NYSE:HIW) is a real estate investment trust that acquires, owns, manages, and leases properties in urban areas throughout the Southern United States. The majority of its revenue comes from its holdings in the urban markets of Atlanta, Raleigh, Nashville, and Tampa.
The company is set to report its Q3 2024 earnings on October 22. Wall Street analysts expect the company to post an EPS of $0.89, down from $0.93 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $205.7 million, down from $207.09 million in the year-ago period.
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If You Bought Highwoods Properties Stock 20 Years Ago
The company's stock traded around $24.29 per share 20 years ago. If you had invested $1,000, you could have bought approximately 41 shares of Highwoods Properties stock. Currently, shares are trading at $33.07, which means your investment's value could have reached $1,361 due to stock price appreciation. But wait, the company also paid dividends during these 20 years.
Highwoods Properties’ dividend yield is currently 6.05%. Over the last twenty years, it paid around $38.15 in dividends per share, which means you could have made $1,571 from dividends alone.
Summing up $1,361 and $1,571, we end up with the final value of your investment, which is $2,932. This is how much you could have made if you had invested $1,000 in Highwoods Properties stock 20 years ago. This means a total return of 193.2%. However, this figure is significantly less than the S&P 500 total return for the same period, which was 581.80%.
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What Could The Next 20 Years Bring?
Highwoods Properties has a consensus rating of Neutral and a price target of $27.83 based on the ratings of 12 analysts. The price target implies a nearly 16% potential downside from the current stock price.
On July 23, the company reported its Q2 2024 earnings, posting an FFO of $0.98, compared to the consensus estimate of $0.90, and revenues of $204.73 million, compared to the consensus of $205.07 million, as reported by Benzinga.
President and Chief Executive Officer Ted Klinck stated, "We reported strong financial and operating results for the second quarter. Our high-quality portfolio in the BBDs of our Sunbelt markets continues to generate strong leasing demand with over 900,000 square feet of second gen leases signed, including 352,000 of new leases. Further, our leasing pipeline remains robust and we're optimistic our strong first half of the year will continue."
The company updated its full-year 2024 FFO outlook to $3.54 to $3.62 per share, compared to the prior range of $3.46 to $3.61 per share provided on April 23, 2024.
Given the expected downside potential, growth-focused investors may not find Highwoods Properties stock attractive. Conversely, the stock can be a good option for income-focused investors, who can benefit from the company's high dividend yield of 6.05%.
Check out this article by Benzinga for three more companies that offer solid dividend yields.
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This article If You Invested $1,000 In Highwoods Properties Stock 20 Years Ago, How Much Would You Have Now? originally appeared on Benzinga.com