Wall Street brokerages forecast that Highwoods Properties Inc (NYSE:HIW) will post sales of $177.54 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Highwoods Properties’ earnings, with the lowest sales estimate coming in at $175.41 million and the highest estimate coming in at $180.50 million. Highwoods Properties posted sales of $169.41 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The business is expected to announce its next earnings report on Tuesday, April 24th.
On average, analysts expect that Highwoods Properties will report full-year sales of $177.54 million for the current financial year, with estimates ranging from $706.96 million to $729.34 million. For the next year, analysts anticipate that the company will report sales of $746.83 million per share, with estimates ranging from $726.85 million to $770.88 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Highwoods Properties.
A number of research firms have issued reports on HIW. Zacks Investment Research downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Stifel Nicolaus cut their price target on Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. ValuEngine downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks set a $51.00 price target on Highwoods Properties and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Edward Jones downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $51.50.
In other news, Director Sherry A. Kellett sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was 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 in the company, valued at approximately $607,164.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sherry A. Kellett sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total value of $101,280.00. Following the completion of the transaction, the director now 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 owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $3,326,000. Jump Trading LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $442,000. BB&T Securities LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $200,000. Vident Investment Advisory LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $288,000. Finally, Jane Street Group LLC purchased a new position in shares of Highwoods Properties in the 4th quarter worth approximately $896,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.
Highwoods Properties (NYSE:HIW) opened at $43.68 on Tuesday. The stock has a market capitalization of $4,511.45, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.29 and a beta of 0.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.40. Highwoods Properties has a 12 month low of $41.83 and a 12 month high of $53.34.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, February 16th. This is an increase from Highwoods Properties’s previous quarterly dividend of $0.44. Highwoods Properties’s payout ratio is presently 104.52%.
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Highwoods Properties Company Profile
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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