Analysts forecast that Highwoods Properties Inc (NYSE:HIW) will report sales of $185.09 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Highwoods Properties’ earnings, with estimates ranging from $182.74 million to $186.70 million. Highwoods Properties posted sales of $179.42 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The business is scheduled to issue its next earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that Highwoods Properties will report full-year sales of $728.25 million for the current fiscal year, with estimates ranging from $720.13 million to $733.90 million. For the next financial year, analysts expect that the business will report sales of $761.77 million, with estimates ranging from $754.57 million to $772.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Highwoods Properties.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.47). The firm had revenue of $184.10 million for the quarter, compared to analysts’ expectations of $180.20 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 6.13%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share.
Several institutional investors have recently made changes to their positions in the stock. Daiwa SB Investments Ltd. lifted its holdings in shares of Highwoods Properties by 47.9% in the 1st quarter. Daiwa SB Investments Ltd. now owns 710 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 230 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Highwoods Properties by 104.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 822 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 420 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Highwoods Properties by 110.1% during the 1st quarter. Quadrant Capital Group LLC now owns 912 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 478 shares during the last quarter. Private Capital Group LLC lifted its position in shares of Highwoods Properties by 261.2% during the 1st quarter. Private Capital Group LLC now owns 1,062 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 768 shares during the last quarter. Finally, Pearl River Capital LLC lifted its position in shares of Highwoods Properties by 236.9% during the 2nd quarter. Pearl River Capital LLC now owns 1,469 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 1,033 shares during the last quarter. 92.00% of the stock is owned by hedge funds and other institutional investors.
Shares of HIW stock traded up $0.46 during mid-day trading on Wednesday, hitting $44.13. 1,531,900 shares of the stock traded hands, compared to its average volume of 689,733. The stock has a market cap of $4.47 billion, a P/E ratio of 12.79, a P/E/G ratio of 3.30 and a beta of 0.81. The stock’s fifty day moving average is $43.64 and its two-hundred day moving average is $44.74. Highwoods Properties has a 52-week low of $37.09 and a 52-week high of $50.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.09 and a quick ratio of 1.09.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Monday, August 12th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, August 9th. Highwoods Properties’s payout ratio is 55.07%.
Highwoods Properties Company Profile
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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