Highwoods Properties Inc (NYSE:HIW) Expected to Announce Earnings of $0.88 Per Share

Wall Street brokerages predict that Highwoods Properties Inc (NYSE:HIW) will announce earnings per share of $0.88 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Highwoods Properties’ earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.86. Highwoods Properties reported earnings per share of $0.87 during the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The firm is scheduled to issue its next earnings report after the market closes on Tuesday, July 28th.

On average, analysts expect that Highwoods Properties will report full year earnings of $3.58 per share for the current year, with EPS estimates ranging from $3.54 to $3.63. For the next financial year, analysts forecast that the business will report earnings of $3.60 per share, with EPS estimates ranging from $3.41 to $3.73. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Highwoods Properties.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.91. The business had revenue of $192.80 million for the quarter, compared to the consensus estimate of $192.55 million. Highwoods Properties had a net margin of 41.50% and a return on equity of 14.27%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS.

A number of research firms have issued reports on HIW. SunTrust Banks upped their target price on shares of Highwoods Properties from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Bank of America upgraded shares of Highwoods Properties from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $55.00 in a research report on Wednesday, March 4th. Robert W. Baird upgraded shares of Highwoods Properties from a “neutral” rating to an “outperform” rating and cut their target price for the company from $53.00 to $40.00 in a research report on Monday, April 6th. Mizuho upgraded shares of Highwoods Properties from a “neutral” rating to a “buy” rating and cut their target price for the company from $51.00 to $45.00 in a research report on Tuesday, April 28th. Finally, Stifel Nicolaus cut their price target on shares of Highwoods Properties from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.38.

Highwoods Properties stock traded up $0.52 during trading hours on Friday, reaching $37.70. 14,856 shares of the company’s stock traded hands, compared to its average volume of 1,127,903. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.48 and a current ratio of 1.48. Highwoods Properties has a fifty-two week low of $25.10 and a fifty-two week high of $52.76. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 2.13 and a beta of 1.00. The firm’s 50 day moving average is $37.70 and its 200-day moving average is $42.31.

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, May 18th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.09%. Highwoods Properties’s dividend payout ratio is 57.66%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp bought a new stake in Highwoods Properties during the 4th quarter worth approximately $29,000. Fifth Third Bancorp bought a new stake in Highwoods Properties during the 1st quarter worth approximately $178,000. Chicago Equity Partners LLC bought a new stake in Highwoods Properties during the 4th quarter worth approximately $247,000. Atria Investments LLC bought a new stake in Highwoods Properties during the 4th quarter worth approximately $268,000. Finally, M&T Bank Corp increased its stake in Highwoods Properties by 8.4% during the 4th quarter. M&T Bank Corp now owns 6,229 shares of the real estate investment trust’s stock worth $304,000 after purchasing an additional 482 shares in the last quarter. 95.55% of the stock is owned by institutional investors and hedge funds.

About Highwoods Properties

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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