Highwoods Properties Inc. (HIW) Issues FY14 Earnings Guidance
Highwoods Properties Inc. (NYSE:HIW) updated its FY14 earnings guidance on Monday. The company provided EPS guidance of $2.82-2.94 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.89, Analyst Ratings Network reports.
A number of research firms have recently commented on HIW. Analysts at Jefferies Group downgraded shares of Highwoods Properties from a buy rating to a hold rating in a research note to investors on Thursday, January 9th. They now have a $38.00 price target on the stock, down previously from $42.00. On a related note, analysts at Zacks reiterated a neutral rating on shares of Highwoods Properties in a research note to investors on Wednesday, January 8th. They now have a $38.00 price target on the stock. Finally, analysts at Oppenheimer initiated coverage on shares of Highwoods Properties in a research note to investors on Monday, January 6th. They set an outperform rating on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $37.60.
Shares of Highwoods Properties Inc. (NYSE:HIW) traded up 1.41% during mid-day trading on Monday, hitting $37.27. The stock had a trading volume of 1,050,828 shares. Highwoods Properties Inc. has a 1-year low of $32.13 and a 1-year high of $41.22. The stock’s 50-day moving average is $36.48 and its 200-day moving average is $36.06. The company has a market cap of $3.351 billion and a P/E ratio of 28.29.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.01. The company had revenue of $149.00 million for the quarter, compared to the consensus estimate of $149.84 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts predict that Highwoods Properties Inc. will post $2.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, March 11th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, February 13th.
Highwoods Properties, Inc is a self-administered and self-managed equity real estate investment trust (NYSE:HIW).
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