$171.45 Million in Sales Expected for Highwoods Properties, Inc. (NYSE:HIW) This Quarter
Analysts expect that Highwoods Properties, Inc. (NYSE:HIW) will announce $171.45 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Highwoods Properties’ earnings, with estimates ranging from $166.29 million to $174.23 million. Highwoods Properties posted sales of $166.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The business is expected to announce its next quarterly earnings results after the market closes on Tuesday, July 25th.
On average, analysts expect that Highwoods Properties will report full-year sales of $171.45 million for the current financial year, with estimates ranging from $656.55 million to $698.90 million. For the next financial year, analysts anticipate that the company will post sales of $722.52 million per share, with estimates ranging from $692.77 million to $748.84 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. Highwoods Properties had a return on equity of 5.80% and a net margin of 18.29%. The company had revenue of $169.41 million for the quarter, compared to the consensus estimate of $167.20 million. During the same period in the previous year, the business earned $0.82 EPS. Highwoods Properties’s revenue for the quarter was up 2.8% compared to the same quarter last year.
Several analysts recently weighed in on the company. BidaskClub downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price on shares of Highwoods Properties in a research note on Wednesday, April 19th. Finally, ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.83.
In other Highwoods Properties news, COO Theodore J. Klinck sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $52.51, for a total value of $525,100.00. Following the completion of the transaction, the chief operating officer now owns 63,194 shares of the company’s stock, valued at approximately $3,318,316.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its position in Highwoods Properties by 1.1% in the first quarter. Public Employees Retirement System of Ohio now owns 160,183 shares of the real estate investment trust’s stock valued at $7,870,000 after buying an additional 1,770 shares during the period. Brookfield Asset Management Inc. boosted its position in Highwoods Properties by 26.8% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,553,986 shares of the real estate investment trust’s stock valued at $79,269,000 after buying an additional 328,320 shares during the period. Credit Suisse AG boosted its position in Highwoods Properties by 9.3% in the first quarter. Credit Suisse AG now owns 446,755 shares of the real estate investment trust’s stock valued at $21,950,000 after buying an additional 37,953 shares during the period. Vanguard Group Inc. boosted its position in Highwoods Properties by 4.9% in the first quarter. Vanguard Group Inc. now owns 16,087,977 shares of the real estate investment trust’s stock valued at $790,402,000 after buying an additional 749,245 shares during the period. Finally, AQR Capital Management LLC boosted its position in Highwoods Properties by 19.3% in the fourth quarter. AQR Capital Management LLC now owns 57,428 shares of the real estate investment trust’s stock valued at $2,930,000 after buying an additional 9,276 shares during the period. 98.76% of the stock is owned by hedge funds and other institutional investors.
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Highwoods Properties (HIW) traded up 1.21% during midday trading on Friday, reaching $50.35. The company’s stock had a trading volume of 188,429 shares. The stock has a 50 day moving average of $51.14 and a 200 day moving average of $50.85. The firm has a market capitalization of $5.14 billion, a PE ratio of 41.65 and a beta of 0.88. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $56.23.
About Highwoods Properties
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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