Highwoods Properties (HIW) Posts Quarterly Earnings, Beats Estimates By $0.01 EPS
Highwoods Properties (NYSE:HIW) released its earnings data on Wednesday. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.70 by $0.01, American Banking and Market News reports. The company had revenue of $147.29 million for the quarter, compared to the consensus estimate of $139.70 million. During the same quarter last year, the company posted $0.66 earnings per share. Highwoods Properties’s revenue was up 19.3% compared to the same quarter last year.
Highwoods Properties (NYSE:HIW) opened at 38.37 on Wednesday. Highwoods Properties has a 1-year low of $30.62 and a 1-year high of $41.22. The stock has a 50-day moving average of $34.98 and a 200-day moving average of $37.20. The company has a market cap of $3.242 billion and a price-to-earnings ratio of 35.21.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 3rd. Investors of record on Monday, November 11th will be paid a dividend of $0.43 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Wednesday, November 6th.
A number of research firms have recently commented on HIW. Analysts at Zacks reiterated a “neutral” rating on shares of Highwoods Properties in a research note to investors on Friday, September 27th. They now have a $37.00 price target on the stock. On a related note, analysts at Cowen and Company cut their price target on shares of Highwoods Properties from $38.00 to $33.00 in a research note to investors on Thursday, September 12th. They now have a “market perform” rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Highwoods Properties from $42.00 to $41.00 in a research note to investors on Monday, September 9th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $37.67.
Highwoods Properties, Inc is a self-administered and self-managed equity real estate investment trust (NYSE:HIW).
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