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.
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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