Highwoods Properties, Inc. Expected to Earn FY2021 Earnings of $3.98 Per Share (HIW)
Highwoods Properties, Inc. (NYSE:HIW) – Analysts at SunTrust Banks increased their FY2021 EPS estimates for shares of Highwoods Properties in a research note issued on Monday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $3.98 per share for the year, up from their prior estimate of $3.95. SunTrust Banks currently has a “Hold” rating and a $52.00 target price on the stock.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.54. The firm had revenue of $180.19 million during the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS.
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HIW has been the topic of several other research reports. BidaskClub raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Janney Montgomery Scott assumed coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating for the company. Finally, Bank of America Corporation upped their price objective on shares of Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and a consensus price target of $54.80.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.76 annualized dividend and a yield of 3.45%. Highwoods Properties’s dividend payout ratio is presently 119.73%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HIW. PNC Financial Services Group Inc. boosted its stake in Highwoods Properties by 1.8% in the first quarter. PNC Financial Services Group Inc. now owns 11,417 shares of the real estate investment trust’s stock valued at $561,000 after acquiring an additional 203 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Highwoods Properties by 77.8% in the first quarter. Renaissance Technologies LLC now owns 230,400 shares of the real estate investment trust’s stock valued at $11,320,000 after acquiring an additional 100,800 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Highwoods Properties in the first quarter valued at $255,000. Bank of America Corp DE boosted its stake in Highwoods Properties by 21.4% in the first quarter. Bank of America Corp DE now owns 544,474 shares of the real estate investment trust’s stock valued at $26,750,000 after acquiring an additional 95,811 shares in the last quarter. Finally, Paloma Partners Management Co boosted its stake in Highwoods Properties by 13.5% in the first quarter. Paloma Partners Management Co now owns 13,763 shares of the real estate investment trust’s stock valued at $676,000 after acquiring an additional 1,632 shares in the last quarter. 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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