Highwoods Properties, Inc. (HIW) Releases FY17 Earnings Guidance
Highwoods Properties, Inc. (NYSE:HIW) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.36-3.38 for the period, compared to the Thomson Reuters consensus estimate of $3.38.
Highwoods Properties, Inc. (HIW) traded down 1.23% on Tuesday, hitting $51.28. 518,335 shares of the company’s stock were exchanged. Highwoods Properties, Inc. has a 12-month low of $45.83 and a 12-month high of $53.34. The company has a market cap of $5.29 billion, a PE ratio of 40.89 and a beta of 0.89. The company’s 50-day moving average price is $52.27 and its 200-day moving average price is $51.29.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million during the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. Highwoods Properties’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Analysts forecast that Highwoods Properties, Inc. will post $1.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 3.43%. Highwoods Properties’s payout ratio is currently 141.94%.
HIW has been the topic of a number of recent analyst reports. Bank of America Corporation upped their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a buy rating in a research note on Tuesday, October 3rd. BidaskClub raised shares of Highwoods Properties from a sell rating to a hold rating in a research note on Friday, August 18th. Finally, Janney Montgomery Scott initiated coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They set a neutral rating on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Highwoods Properties currently has a consensus rating of Hold and an average price target of $55.50.
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Highwoods Properties Company Profile
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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