Highwoods Properties Inc (NYSE:HIW) – Equities research analysts at Jefferies Group lowered their FY2018 earnings per share estimates for Highwoods Properties in a research note issued to investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will earn $3.47 per share for the year, down from their prior estimate of $3.49. Jefferies Group also issued estimates for Highwoods Properties’ FY2019 earnings at $3.64 EPS.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.54. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share.
Other equities analysts have also issued research reports about the company. Bank of America raised their price objective on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. ValuEngine raised Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, SunTrust Banks set a $52.00 price objective on Highwoods Properties and gave the company a “hold” rating in a research report on Tuesday, October 24th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Highwoods Properties currently has an average rating of “Hold” and a consensus price target of $54.80.
Highwoods Properties (NYSE HIW) opened at $47.66 on Friday. 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 has a market capitalization of $4,920.00, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 2.98 and a beta of 0.87. Highwoods Properties has a 52-week low of $47.62 and a 52-week high of $53.34.
In other news, Director Sherry A. Kellett sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the completion of the transaction, the director now directly owns 13,744 shares in the company, valued at $695,996.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sherry A. Kellett sold 1,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $51.70, for a total value of $51,700.00. Following the transaction, the director now owns 11,744 shares of the company’s stock, valued at $607,164.80. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIW. JPMorgan Chase & Co. increased its holdings in Highwoods Properties by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock worth $166,240,000 after buying an additional 882,571 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 buying an additional 703,562 shares in the last quarter. Franklin Resources Inc. increased its holdings in Highwoods Properties by 234.5% in the 2nd quarter. Franklin Resources Inc. now owns 658,049 shares of the real estate investment trust’s stock worth $33,370,000 after buying an additional 461,312 shares in the last quarter. Koch Industries Inc. bought a new stake in Highwoods Properties in the 2nd quarter worth about $401,000. Finally, Eagle Asset Management Inc. increased its holdings in Highwoods Properties by 510.5% in the 2nd quarter. Eagle Asset Management Inc. now owns 322,892 shares of the real estate investment trust’s stock worth $16,373,000 after buying an additional 269,998 shares in the last quarter. Institutional investors own 96.31% of the company’s stock.
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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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