Brokerages expect Highwoods Properties Inc (NYSE:HIW) to announce earnings of $0.90 per share for the current quarter, according to Zacks. Six analysts have provided estimates for Highwoods Properties’ earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.91. Highwoods Properties reported earnings of $0.86 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 4th.
According to Zacks, analysts expect that Highwoods Properties will report full year earnings of $3.32 per share for the current year, with EPS estimates ranging from $3.30 to $3.35. For the next fiscal year, analysts expect that the firm will post earnings of $3.59 per share, with EPS estimates ranging from $3.56 to $3.64. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.58). Highwoods Properties had a return on equity of 5.93% and a net margin of 17.85%. The firm had revenue of $187.50 million for the quarter, compared to the consensus estimate of $185.95 million. During the same quarter in the prior year, the company posted $0.86 EPS. The firm’s revenue was up 4.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of HIW. Victory Capital Management Inc. raised its stake in shares of Highwoods Properties by 45.0% during the second 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 purchasing an additional 1,372,377 shares in the last quarter. Heitman Real Estate Securities LLC acquired a new stake in Highwoods Properties in the second quarter worth about $37,783,000. Millennium Management LLC lifted its holdings in Highwoods Properties by 253.9% in the third quarter. Millennium Management LLC now owns 904,156 shares of the real estate investment trust’s stock worth $40,632,000 after purchasing an additional 648,645 shares during the period. Price T Rowe Associates Inc. MD increased 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 buying an additional 346,806 shares during the period. Finally, Bank of America Corp DE increased its stake in Highwoods Properties by 132.3% during the 2nd quarter. Bank of America Corp DE now owns 563,763 shares of the real estate investment trust’s stock valued at $23,284,000 after buying an additional 321,060 shares during the period. 94.70% of the stock is currently owned by institutional investors.
NYSE:HIW traded down $0.09 during mid-day trading on Wednesday, hitting $47.65. The stock had a trading volume of 253,330 shares, compared to its average volume of 592,509. 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 company has a 50 day simple moving average of $46.31 and a 200-day simple moving average of $44.46. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 5.68 and a beta of 0.80. Highwoods Properties has a 52 week low of $37.09 and a 52 week high of $48.74.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Monday, November 11th were paid a $0.475 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.90 annualized dividend and a dividend yield of 3.99%. Highwoods Properties’s payout ratio is 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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