Zacks: Brokerages Expect Highwoods Properties Inc (NYSE:HIW) Will Announce Quarterly Sales of $185.09 Million

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 analysts have commented on the stock. Zacks Investment Research raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, TheStreet lowered shares of Highwoods Properties from a “b-” rating to a “c+” rating in a research report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Buy”.

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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