Q4 2017 EPS Estimates for Highwoods Properties, Inc. Cut by SunTrust Banks (HIW)
Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at SunTrust Banks reduced their Q4 2017 EPS estimates for shares of Highwoods Properties in a research note issued to investors on Monday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $0.83 per share for the quarter, down from their previous estimate of $0.84. SunTrust Banks has a “Hold” rating and a $52.00 price objective on the stock. SunTrust Banks also issued estimates for Highwoods Properties’ Q1 2018 earnings at $0.83 EPS, Q2 2018 earnings at $0.88 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.89 EPS, FY2018 earnings at $3.47 EPS, FY2019 earnings at $3.65 EPS and FY2020 earnings at $3.82 EPS.
Highwoods Properties (NYSE:HIW) last announced its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.54. The company had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share.
Several other brokerages have also recently issued reports on HIW. Bank of America Corporation upped their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Janney Montgomery Scott began coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They set a “neutral” rating for the company. Finally, BidaskClub upgraded shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $54.80.
Shares of Highwoods Properties (NYSE:HIW) traded down 0.02% during trading on Wednesday, hitting $51.04. 115,063 shares of the stock were exchanged. The firm’s 50 day moving average price is $52.13 and its 200-day moving average price is $51.29. The stock has a market cap of $5.27 billion, a P/E ratio of 40.70 and a beta of 0.89. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $53.34.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, November 13th. Highwoods Properties’s dividend payout ratio (DPR) is presently 119.73%.
Institutional investors and hedge funds have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. increased its position in shares of Highwoods Properties by 17.5% during the second quarter. Independent Portfolio Consultants Inc. now owns 2,743 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 408 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Highwoods Properties by 13.6% during the first quarter. Envestnet Asset Management Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $151,000 after buying an additional 369 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of Highwoods Properties by 4.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 3,161 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 124 shares during the period. Ray Gerald L & Associates Ltd. acquired a new stake in shares of Highwoods Properties during the second quarter worth $203,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Highwoods Properties during the second quarter worth $207,000. Institutional investors own 97.77% of the company’s stock.
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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