Wall Street analysts expect that Highwoods Properties Inc (NYSE:HIW) will report sales of $191.50 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Highwoods Properties’ earnings, with the lowest sales estimate coming in at $186.62 million and the highest estimate coming in at $195.93 million. Highwoods Properties reported sales of $181.39 million during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The firm is scheduled to issue its next earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that Highwoods Properties will report full-year sales of $735.38 million for the current fiscal year, with estimates ranging from $723.67 million to $743.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $769.92 million, with estimates ranging from $762.21 million to $785.13 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.58). The company had revenue of $187.50 million for the quarter, compared to analysts’ expectations of $185.95 million. Highwoods Properties had a net margin of 17.85% and a return on equity of 5.93%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share.
Hedge funds have recently added to or reduced their stakes in the business. WINTON GROUP Ltd lifted its position in Highwoods Properties by 19.6% during the second quarter. WINTON GROUP Ltd now owns 66,960 shares of the real estate investment trust’s stock valued at $2,765,000 after purchasing an additional 10,953 shares during the last quarter. Swiss National Bank lifted its position in Highwoods Properties by 2.2% during the second quarter. Swiss National Bank now owns 192,702 shares of the real estate investment trust’s stock valued at $7,959,000 after purchasing an additional 4,100 shares during the last quarter. 6 Meridian lifted its position in Highwoods Properties by 2.3% during the second quarter. 6 Meridian now owns 11,483 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 260 shares during the last quarter. Eaton Vance Management lifted its position in Highwoods Properties by 8.9% during the second quarter. Eaton Vance Management now owns 23,833 shares of the real estate investment trust’s stock valued at $984,000 after purchasing an additional 1,949 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in Highwoods Properties by 107.7% during the third quarter. Great Lakes Advisors LLC now owns 300,608 shares of the real estate investment trust’s stock valued at $13,510,000 after purchasing an additional 155,874 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.
HIW traded up $0.17 during trading on Wednesday, hitting $46.73. 367,603 shares of the company traded hands, compared to its average volume of 819,024. The company has a market cap of $4.77 billion, a PE ratio of 13.54, a P/E/G ratio of 5.27 and a beta of 0.79. The stock’s 50-day simple moving average is $45.11 and its two-hundred day simple moving average is $44.17. Highwoods Properties has a 1 year low of $37.09 and a 1 year high of $47.33. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 11th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.90 annualized dividend and a yield of 4.07%. Highwoods Properties’s dividend payout ratio (DPR) is currently 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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