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

Brokerages expect Highwoods Properties Inc (NYSE:HIW) to announce $185.09 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Highwoods Properties’ earnings, with the highest sales estimate coming in at $186.70 million and the lowest estimate coming in at $182.74 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 firm is expected to announce its next earnings report on Tuesday, October 22nd.

According to Zacks, analysts expect that Highwoods Properties will report full year sales of $728.25 million for the current financial year, with estimates ranging from $720.13 million to $733.90 million. For the next year, analysts expect that the company will post sales of $761.77 million, with estimates ranging from $754.57 million to $772.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Highwoods Properties.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.47). Highwoods Properties had a return on equity of 6.13% and a net margin of 18.79%. The business had revenue of $184.10 million during the quarter, compared to analysts’ expectations of $180.20 million. During the same period in the previous year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis.

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

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Highwoods Properties by 1.0% during the 1st quarter. BlackRock Inc. now owns 14,262,498 shares of the real estate investment trust’s stock valued at $667,198,000 after acquiring an additional 138,402 shares during the period. FMR LLC lifted its stake in Highwoods Properties by 8.5% during the 1st quarter. FMR LLC now owns 4,785,085 shares of the real estate investment trust’s stock valued at $223,846,000 after acquiring an additional 375,093 shares during the period. Victory Capital Management Inc. lifted its stake in Highwoods Properties by 45.0% during the 2nd quarter. Victory Capital Management Inc. now owns 4,420,597 shares of the real estate investment trust’s stock valued at $182,571,000 after acquiring an additional 1,372,377 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Highwoods Properties by 26.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,681,827 shares of the real estate investment trust’s stock valued at $69,459,000 after acquiring an additional 346,806 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Highwoods Properties by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,601,574 shares of the real estate investment trust’s stock valued at $61,965,000 after acquiring an additional 17,556 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Shares of Highwoods Properties stock traded up $0.62 on Wednesday, reaching $43.67. The stock had a trading volume of 2,637,100 shares, compared to its average volume of 745,838. The company has a 50 day moving average price of $43.64 and a 200 day moving average price of $44.74. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.99. Highwoods Properties has a 1 year low of $37.09 and a 1 year high of $50.81. The stock has a market capitalization of $4.47 billion, a P/E ratio of 12.66, a P/E/G ratio of 3.30 and a beta of 0.81.

The business also recently announced 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 yield of 4.35%. The ex-dividend date of this dividend is Friday, August 9th. Highwoods Properties’s dividend payout ratio is presently 55.07%.

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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