Wall Street analysts expect that Highwoods Properties Inc (NYSE:HIW) will report $181.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Highwoods Properties’ earnings, with estimates ranging from $179.60 million to $182.63 million. Highwoods Properties reported sales of $180.44 million during the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The company is scheduled to report its next earnings results on Tuesday, April 23rd.
On average, analysts expect that Highwoods Properties will report full-year sales of $740.76 million for the current year, with estimates ranging from $732.17 million to $752.22 million. For the next financial year, analysts expect that the business will report sales of $771.81 million, with estimates ranging from $746.26 million to $793.83 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Highwoods Properties.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. Highwoods Properties had a net margin of 23.69% and a return on equity of 7.68%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $176.79 million. During the same period in the previous year, the business earned $0.84 earnings per share. Highwoods Properties’s revenue for the quarter was up 952.5% compared to the same quarter last year.
Several analysts have issued reports on the company. ValuEngine upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Janney Montgomery Scott upgraded Highwoods Properties from a “neutral” rating to a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. Finally, Capital One Financial upgraded Highwoods Properties from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.00.
NYSE HIW traded up $0.57 on Tuesday, hitting $46.88. 660,267 shares of the company were exchanged, compared to its average volume of 812,302. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.93. The company has a market cap of $4.85 billion, a PE ratio of 13.59, a PEG ratio of 3.00 and a beta of 0.99. Highwoods Properties has a twelve month low of $37.09 and a twelve month high of $52.00.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 19th will be issued a $0.475 dividend. This is an increase from Highwoods Properties’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Friday, February 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.05%. Highwoods Properties’s dividend payout ratio is currently 53.62%.
In other Highwoods Properties news, Director Carlos E. Evans bought 10,000 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were bought at an average price of $38.31 per share, for a total transaction of $383,100.00. Following the acquisition, the director now directly owns 21,247 shares of the company’s stock, valued at $813,972.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Capital Investment Advisory Services LLC bought a new stake in shares of Highwoods Properties in the 4th quarter valued at approximately $27,000. Oregon Public Employees Retirement Fund grew its stake in shares of Highwoods Properties by 3,769.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 1,536,094 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Highwoods Properties in the 3rd quarter valued at approximately $153,000. Lasalle Investment Management Securities LLC bought a new stake in shares of Highwoods Properties in the 4th quarter valued at approximately $153,000. Finally, First Hawaiian Bank bought a new stake in shares of Highwoods Properties in the 3rd quarter valued at approximately $185,000. Institutional investors own 93.23% of the company’s stock.
About Highwoods Properties
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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