Equities analysts expect Highwoods Properties Inc (NYSE:HIW) to post $0.83 earnings per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Highwoods Properties’ earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.82. Highwoods Properties reported earnings of $0.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 232%. The business is expected to report its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Highwoods Properties will report full-year earnings of $3.38 per share for the current year, with EPS estimates ranging from $3.37 to $3.40. For the next fiscal year, analysts forecast that the firm will post earnings of $3.47 per share, with EPS estimates ranging from $3.42 to $3.50. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Highwoods Properties.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, beating the consensus estimate of $0.32 by $0.54. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The firm had revenue of $180.19 million during the quarter, compared to analyst estimates of $177.15 million. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year.
Several research firms have recently issued reports on HIW. Edward Jones lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. SunTrust Banks set a $52.00 target price on shares of Highwoods Properties and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Bank of America increased their target price on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. Finally, Janney Montgomery Scott began coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They set a “neutral” rating on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $54.80.
In related news, Director Sherry A. Kellett sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total value of $101,280.00. Following the transaction, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sherry A. Kellett sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $51.70, for a total transaction of $51,700.00. Following the completion of the transaction, the director now directly owns 11,744 shares in the company, valued at $607,164.80. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of HIW. Vanguard Group Inc. lifted its stake in Highwoods Properties by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 16,280,366 shares of the real estate investment trust’s stock worth $825,578,000 after purchasing an additional 192,389 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,888,598 shares of the real estate investment trust’s stock worth $254,647,000 after purchasing an additional 703,562 shares in the last quarter. State Street Corp lifted its stake in Highwoods Properties by 0.3% in the 2nd quarter. State Street Corp now owns 4,340,884 shares of the real estate investment trust’s stock worth $220,127,000 after purchasing an additional 12,891 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Highwoods Properties by 1.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,332,229 shares of the real estate investment trust’s stock worth $173,241,000 after purchasing an additional 53,973 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Highwoods Properties by 3.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,898,603 shares of the real estate investment trust’s stock worth $96,278,000 after purchasing an additional 68,509 shares in the last quarter. 96.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Highwoods Properties (NYSE:HIW) traded up $0.51 on Friday, reaching $50.96. The company’s stock had a trading volume of 769,700 shares, compared to its average volume of 537,320. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.20 and a quick ratio of 1.20. Highwoods Properties has a 12 month low of $48.42 and a 12 month high of $53.34. The firm has a market cap of $5,208.91, a P/E ratio of 34.67, a P/E/G ratio of 3.21 and a beta of 0.87.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, November 13th. Highwoods Properties’s payout ratio is currently 119.73%.
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About Highwoods Properties
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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