According to Zacks, “Highwoods is likely to witness decent demand and rent growth for its BBD-located Class A office properties given a healthy economy and job-market gains. In first-quarter 2019, the sudden lease termination with Laser Spine Institute at the company’s Avion Park facility overweighed an otherwise decent quarter, suggested by impressive leasing and occupancy. Yet, strong interest from potential tenants has raised optimism about backfilling the property. Further, the company remains focused to sell non-core assets and recycle sale proceeds in development projects. However, the dilutive impact on earnings from such asset dispositions cannot by bypassed in the near term. Also, an extensive development pipeline exposes the company to several risks, including higher development costs. Shares of the company have underperformed the industry, over the past three months.”
HIW has been the topic of a number of other research reports. TheStreet cut Highwoods Properties from a b- rating to a c+ rating in a research note on Monday, May 13th. Capital One Financial raised Highwoods Properties from an equal weight rating to an overweight rating in a research note on Tuesday, January 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $51.60.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.12). The company had revenue of $172.36 million during the quarter, compared to analysts’ expectations of $181.72 million. Highwoods Properties had a return on equity of 6.59% and a net margin of 20.42%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 EPS. As a group, equities analysts forecast that Highwoods Properties will post 3.34 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 13th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.90 dividend on an annualized basis and a yield of 4.34%. Highwoods Properties’s dividend payout ratio is currently 55.07%.
A number of institutional investors and hedge funds have recently modified their holdings of HIW. Daiwa SB Investments Ltd. grew its stake in Highwoods Properties by 47.9% during the 1st quarter. Daiwa SB Investments Ltd. now owns 710 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 230 shares in the last quarter. Employees Retirement System of Texas grew its stake in Highwoods Properties by 0.3% during the 4th quarter. Employees Retirement System of Texas now owns 139,460 shares of the real estate investment trust’s stock valued at $5,396,000 after acquiring an additional 350 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Highwoods Properties by 0.8% during the 1st quarter. State of Alaska Department of Revenue now owns 44,525 shares of the real estate investment trust’s stock valued at $2,081,000 after acquiring an additional 375 shares in the last quarter. Utah Retirement Systems grew its stake in Highwoods Properties by 1.5% during the 4th quarter. Utah Retirement Systems now owns 26,319 shares of the real estate investment trust’s stock valued at $1,018,000 after acquiring an additional 400 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in Highwoods Properties by 30.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $77,000 after acquiring an additional 440 shares in the last quarter. 91.94% of the stock is currently owned by hedge funds and other institutional investors.
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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