$177.13 Million in Sales Expected for Highwoods Properties, Inc. (HIW) This Quarter
Wall Street brokerages expect that Highwoods Properties, Inc. (NYSE:HIW) will post sales of $177.13 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Highwoods Properties’ earnings. The highest sales estimate is $180.25 million and the lowest is $173.33 million. Highwoods Properties posted sales of $167.65 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.7%. The business is expected to issue its next quarterly earnings report on Tuesday, February 6th.
On average, analysts expect that Highwoods Properties will report full year sales of $177.13 million for the current fiscal year, with estimates ranging from $699.74 million to $707.13 million. For the next financial year, analysts expect that the firm will report sales of $724.17 million per share, with estimates ranging from $710.67 million to $745.56 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, topping the 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 business 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 firm earned $0.82 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year.
HIW has been the topic of several research analyst reports. Bank of America boosted their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Edward Jones lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Janney Montgomery Scott initiated coverage on shares of Highwoods Properties in a report on Friday, September 8th. They issued a “neutral” rating on the stock. Finally, SunTrust Banks set a $52.00 price objective on shares of Highwoods Properties and gave the company a “hold” rating in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Highwoods Properties currently has a consensus rating of “Hold” and a consensus price target of $54.80.
In other Highwoods Properties news, Director Sherry A. Kellett sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total transaction of $101,280.00. Following the sale, the director now directly owns 13,744 shares in the company, valued at $695,996.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sherry A. Kellett sold 1,000 shares of the business’s 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 sale, the director now owns 11,744 shares in the company, valued at $607,164.80. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Highwoods Properties by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,889 shares of the real estate investment trust’s stock worth $755,000 after buying an additional 38 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Highwoods Properties by 4.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 124 shares in the last quarter. GAM Holding AG grew its position in shares of Highwoods Properties by 2.4% during the second quarter. GAM Holding AG now owns 8,660 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 199 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Highwoods Properties by 4.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,448 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 320 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its position in shares of Highwoods Properties by 1.1% during the second quarter. Ameritas Investment Partners Inc. now owns 30,530 shares of the real estate investment trust’s stock worth $1,548,000 after buying an additional 323 shares in the last quarter. Institutional investors own 96.56% of the company’s stock.
Highwoods Properties (HIW) traded down $0.05 during midday trading on Thursday, hitting $51.65. The stock had a trading volume of 408,700 shares, compared to its average volume of 534,264. Highwoods Properties has a fifty-two week low of $48.42 and a fifty-two week high of $53.34. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market cap of $5,337.97, a price-to-earnings ratio of 15.30, a PEG ratio of 3.29 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were issued a $0.44 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.76 annualized dividend and a yield of 3.41%. Highwoods Properties’s dividend payout ratio (DPR) is currently 119.73%.
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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