$0.84 Earnings Per Share Expected for Highwoods Properties, Inc. (HIW) This Quarter
Brokerages expect Highwoods Properties, Inc. (NYSE:HIW) to report $0.84 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Highwoods Properties’ earnings. The lowest EPS estimate is $0.82 and the highest is $0.86. Highwoods Properties reported earnings of $0.25 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 236%. The firm is scheduled to report its next quarterly earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Highwoods Properties will report full-year earnings of $3.38 per share for the current financial year, with EPS estimates ranging from $3.37 to $3.40. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.48 per share, with EPS estimates ranging from $3.42 to $3.55. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.54. The company had revenue of $180.19 million for the quarter, compared to analyst estimates of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. Highwoods Properties’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 EPS.
A number of equities research analysts have issued reports on the company. BidaskClub lowered Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. SunTrust Banks, Inc. set a $52.00 price target on Highwoods Properties and gave the company a “hold” rating in a research report on Tuesday, October 24th. Bank of America Corporation increased their price target on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 3rd. Finally, Janney Montgomery Scott assumed coverage on Highwoods Properties in a research report on Friday, September 8th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $54.80.
Highwoods Properties (HIW) traded up $0.18 during mid-day trading on Friday, reaching $51.18. The company’s stock had a trading volume of 425,730 shares, compared to its average volume of 465,239. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.90. The firm has a market cap of $5,284.28, a price-to-earnings ratio of 15.14, a P/E/G ratio of 3.09 and a beta of 0.88. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $53.34.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be issued a $0.44 dividend. The ex-dividend date is Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.44%. Highwoods Properties’s payout ratio is currently 119.73%.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. purchased a new position in shares of Highwoods Properties in the 3rd quarter valued at about $469,000. Advantus Capital Management Inc increased its holdings in shares of Highwoods Properties by 7.1% in the 3rd quarter. Advantus Capital Management Inc now owns 354,252 shares of the real estate investment trust’s stock valued at $18,453,000 after acquiring an additional 23,373 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Highwoods Properties by 4.7% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 38,410 shares of the real estate investment trust’s stock valued at $2,001,000 after acquiring an additional 1,726 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Highwoods Properties by 53.1% in the 3rd quarter. State of Tennessee Treasury Department now owns 115,400 shares of the real estate investment trust’s stock valued at $6,011,000 after acquiring an additional 40,000 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Highwoods Properties by 4.1% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 99,139 shares of the real estate investment trust’s stock valued at $5,164,000 after acquiring an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 97.77% 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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