Q4 2017 Earnings Forecast for Highwoods Properties, Inc. Issued By DA Davidson (NYSE:HIW)
Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at DA Davidson decreased their Q4 2017 earnings per share estimates for Highwoods Properties in a note issued to investors on Wednesday. DA Davidson analyst B. Oxford now expects that the real estate investment trust will earn $0.84 per share for the quarter, down from their previous estimate of $0.87.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million during the quarter, compared to analysts’ expectations of $172.28 million. Highwoods Properties had a return on equity of 6.00% and a net margin of 18.79%. Highwoods Properties’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. ILLEGAL ACTIVITY WARNING: “Q4 2017 Earnings Forecast for Highwoods Properties, Inc. Issued By DA Davidson (NYSE:HIW)” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/07/27/q4-2017-earnings-forecast-for-highwoods-properties-inc-issued-by-da-davidson-nysehiw.html.
Other research analysts have also issued research reports about the company. ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Stifel Nicolaus reiterated a “buy” rating and set a $55.00 price target on shares of Highwoods Properties in a research report on Wednesday, April 19th. Finally, BidaskClub upgraded Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Highwoods Properties has a consensus rating of “Hold” and an average price target of $56.40.
Highwoods Properties (HIW) remained flat at $51.31 on Thursday. The company’s stock had a trading volume of 187,734 shares. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 42.44 and a beta of 0.88. Highwoods Properties has a 12-month low of $45.83 and a 12-month high of $56.23. The stock has a 50-day moving average of $51.02 and a 200-day moving average of $50.84.
Several hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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. Institutional investors and hedge funds own 99.02% of the company’s stock.
In other news, COO Theodore J. Klinck sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 63,194 shares in the company, valued at $3,318,316.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.90% of the company’s stock.
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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