Analysts predict that Highwoods Properties, Inc. (NYSE:HIW) will announce earnings per share (EPS) of $0.83 for the current quarter, according to Zacks. Seven analysts have made estimates for Highwoods Properties’ earnings. The lowest EPS estimate is $0.82 and the highest is $0.86. Highwoods Properties posted earnings per share of $0.25 during the same quarter last year, which indicates a positive year-over-year growth rate of 232%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Highwoods Properties will report full-year earnings of $3.38 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $3.40. For the next fiscal year, analysts expect that the company will report earnings of $3.47 per share, with EPS estimates ranging from $3.42 to $3.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $180.19 million for the quarter, compared to analyst estimates of $177.15 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year.
HIW has been the topic of several recent analyst reports. SunTrust Banks set a $52.00 price target on Highwoods Properties and gave the company a “hold” rating in a research note on Tuesday, October 24th. Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Bank of America upped their price target on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Janney Montgomery Scott initiated coverage on Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Highwoods Properties presently has a consensus rating of “Hold” and a consensus price target of $54.80.
In related news, Director Sherry A. Kellett sold 1,000 shares of the stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $51.70, for a total transaction of $51,700.00. Following the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $607,164.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Sherry A. Kellett sold 2,000 shares of the stock in a transaction dated Wednesday, December 6th. The stock was 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 in the company, valued at approximately $695,996.16. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Highwoods Properties by 1.2% during 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 acquiring an additional 192,389 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Highwoods Properties by 16.8% during 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 acquiring an additional 703,562 shares in the last quarter. State Street Corp lifted its stake in Highwoods Properties by 0.3% during 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 acquiring an additional 12,891 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Highwoods Properties by 1.6% during 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 acquiring an additional 53,973 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its stake in Highwoods Properties by 3.7% during 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 acquiring an additional 68,509 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Highwoods Properties (HIW) traded up $0.11 during trading on Tuesday, hitting $51.75. The stock had a trading volume of 1,174,000 shares, compared to its average volume of 536,895. Highwoods Properties has a twelve month low of $48.42 and a twelve month high of $53.34. The firm has a market cap of $5,330.00, a price-to-earnings ratio of 15.28, a PEG ratio of 3.29 and a beta of 0.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.90.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.40%. The ex-dividend date was Monday, November 13th. Highwoods Properties’s payout ratio is 122.22%.
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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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