Highwoods Properties (HIW) Posts Quarterly Results
Highwoods Properties (NYSE:HIW) posted its quarterly earnings results on Tuesday. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.05, Stock Ratings Network.com reports. The company had revenue of $148.45 million for the quarter, compared to the consensus estimate of $145.50 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Highwoods Properties updated its FY14 guidance to $2.86-2.94 EPS.
A number of analysts have recently weighed in on HIW shares. Analysts at Zacks reiterated a “neutral” rating on shares of Highwoods Properties in a research note on Thursday, March 27th. They now have a $39.00 price target on the stock. On a related note, analysts at MLV & Co
initiated coverage on shares of Highwoods Properties in a research note on Tuesday, March 25th. They set a “hold” rating and a $38.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Highwoods Properties from $40.00 to $39.00 in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $37.67.
Highwoods Properties (NYSE:HIW) traded down 0.23% during mid-day trading on Tuesday, hitting $39.52. 699,460 shares of the company’s stock traded hands. Highwoods Properties has a 52-week low of $32.13 and a 52-week high of $41.22. The stock has a 50-day moving average of $38.14 and a 200-day moving average of $37.12. The company has a market cap of $3.554 billion and a P/E ratio of 27.49.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, May 16th.
Highwoods Properties, Inc, is a self-administered and self-managed equity real estate investment trust (NYSE:HIW).
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