Zacks: Brokerages Anticipate Highwoods Properties Inc (HIW) to Post $0.81 Earnings Per Share

Equities analysts expect that Highwoods Properties Inc (NYSE:HIW) will post earnings of $0.81 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Highwoods Properties’ earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.72. Highwoods Properties reported earnings per share of $0.85 in the same quarter last year, which would suggest a negative year over year growth rate of 4.7%. The firm is scheduled to issue its next earnings report on Tuesday, April 23rd.

According to Zacks, analysts expect that Highwoods Properties will report full-year earnings of $3.44 per share for the current fiscal year, with EPS estimates ranging from $3.33 to $3.53. For the next year, analysts anticipate that the company will report earnings of $3.60 per share, with EPS estimates ranging from $3.51 to $3.69. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Highwoods Properties.

Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.86. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $176.79 million. Highwoods Properties had a net margin of 23.69% and a return on equity of 7.68%. Highwoods Properties’s quarterly revenue was up 952.5% on a year-over-year basis. During the same period last year, the company posted $0.84 earnings per share.

HIW has been the topic of a number of research reports. ValuEngine raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. Janney Montgomery Scott raised shares of Highwoods Properties from a “neutral” rating to a “buy” rating in a research report on Thursday, December 20th. Zacks Investment Research downgraded shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Capital One Financial raised shares of Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $53.00.

In other news, Director Carlos E. Evans bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was purchased at an average cost of $38.31 per share, for a total transaction of $383,100.00. Following the purchase, the director now directly owns 21,247 shares in the company, valued at approximately $813,972.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Capital Investment Advisory Services LLC acquired a new position in Highwoods Properties during the fourth quarter worth $27,000. Oregon Public Employees Retirement Fund raised its position in Highwoods Properties by 3,769.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,576,850 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,536,094 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in shares of Highwoods Properties during the third quarter worth $153,000. Lasalle Investment Management Securities LLC purchased a new stake in shares of Highwoods Properties during the fourth quarter worth $153,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Highwoods Properties during the fourth quarter worth $229,000. Institutional investors own 91.12% of the company’s stock.

HIW traded up $0.21 during trading on Tuesday, hitting $45.42. 622,166 shares of the company traded hands, compared to its average volume of 742,814. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 3.03 and a beta of 0.99. Highwoods Properties has a 1 year low of $37.09 and a 1 year high of $52.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.20.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 19th were paid a $0.475 dividend. This is a boost from Highwoods Properties’s previous quarterly dividend of $0.46. This represents a $1.90 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, February 15th. Highwoods Properties’s payout ratio is currently 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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