$178.02 Million in Sales Expected for Highwoods Properties, Inc. (HIW) This Quarter
Brokerages expect Highwoods Properties, Inc. (NYSE:HIW) to report sales of $178.02 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Highwoods Properties’ earnings, with estimates ranging from $175.81 million to $180.00 million. Highwoods Properties posted sales of $166.27 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.1%. The business is expected to issue its next earnings results after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that Highwoods Properties will report full year sales of $178.02 million for the current year, with estimates ranging from $696.68 million to $705.39 million. For the next financial year, analysts expect that the company will post sales of $724.14 million per share, with estimates ranging from $714.60 million to $743.79 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.59. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business had revenue of $177.28 million for the quarter, compared to analyst estimates of $172.28 million. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis.
A number of equities research analysts have commented on the stock. Bank of America Corporation increased their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Janney Montgomery Scott assumed coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $55.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Highwoods Properties by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,889 shares of the real estate investment trust’s stock valued at $755,000 after buying an additional 38 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Highwoods Properties by 4.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 124 shares during the last quarter. GAM Holding AG grew its position in shares of Highwoods Properties by 2.4% in the 2nd quarter. GAM Holding AG now owns 8,660 shares of the real estate investment trust’s stock valued at $439,000 after buying an additional 199 shares during the last quarter. World Asset Management Inc grew its position in shares of Highwoods Properties by 3.2% in the 2nd quarter. World Asset Management Inc now owns 6,433 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 200 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Highwoods Properties by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,417 shares of the real estate investment trust’s stock valued at $561,000 after buying an additional 203 shares during the last quarter. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Highwoods Properties (NYSE:HIW) traded down 0.69% during midday trading on Wednesday, hitting $51.96. 479,373 shares of the stock traded hands. The company has a 50-day moving average price of $52.28 and a 200 day moving average price of $51.27. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 41.44 and a beta of 0.89. Highwoods Properties has a one year low of $45.83 and a one year high of $53.34.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, November 13th. Highwoods Properties’s dividend payout ratio (DPR) is 141.94%.
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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