Highwoods Properties Inc (HIW) Expected to Post Quarterly Sales of $177.14 Million
Equities research analysts expect that Highwoods Properties Inc (NYSE:HIW) will post $177.14 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Highwoods Properties’ earnings. The lowest sales estimate is $173.33 million and the highest is $180.25 million. Highwoods Properties reported sales of $167.65 million in the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, February 6th.
According to Zacks, analysts expect that Highwoods Properties will report full year sales of $177.14 million for the current financial year, with estimates ranging from $699.74 million to $707.13 million. For the next fiscal year, analysts expect that the business will report sales of $724.28 million per share, with estimates ranging from $710.67 million to $745.56 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.54. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The business had revenue of $180.19 million for the quarter, compared to analyst estimates of $177.15 million. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 8.4% on a year-over-year basis.
Highwoods Properties (NYSE HIW) traded up $0.14 during midday trading on Wednesday, hitting $47.80. 582,700 shares of the company were exchanged, compared to its average volume of 565,970. Highwoods Properties has a fifty-two week low of $47.63 and a fifty-two week high of $53.34. 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 capitalization of $4,920.84, a price-to-earnings ratio of 32.52, a PEG ratio of 2.96 and a beta of 0.87.
In related news, Director Sherry A. Kellett sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $51.70, for a total value of $51,700.00. Following the completion of the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $607,164.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sherry A. Kellett sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the completion of the transaction, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new position in Highwoods Properties in the 2nd quarter worth approximately $207,000. Parametrica Management Ltd acquired a new position in Highwoods Properties in the 3rd quarter worth approximately $288,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Highwoods Properties by 10.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,737 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 537 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Highwoods Properties during the 2nd quarter valued at $295,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of Highwoods Properties during the 2nd quarter valued at $311,000. 96.55% of the stock is owned by hedge funds and other institutional investors.
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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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