Capital One Financial Corp. Brokers Raise Earnings Estimates for Highwoods Properties Inc. (HIW)
Highwoods Properties Inc. (NYSE:HIW) – Stock analysts at Capital One Financial Corp. boosted their Q2 2017 earnings estimates for Highwoods Properties in a research note issued on Tuesday. Capital One Financial Corp. analyst T. Lesnick now expects that the brokerage will post earnings per share of $0.88 for the quarter, up from their previous estimate of $0.87. Capital One Financial Corp. currently has a “Equal Weight” rating on the stock. Capital One Financial Corp. also issued estimates for Highwoods Properties’ FY2017 earnings at $3.45 EPS.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Highwoods Properties had a return on equity of 5.22% and a net margin of 78.77%. The company had revenue of $166.86 million for the quarter, compared to the consensus estimate of $164.24 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis.
HIW has been the topic of several other reports. BTIG Research initiated coverage on Highwoods Properties in a research report on Thursday, August 25th. They issued a “neutral” rating on the stock. Oppenheimer Holdings Inc. increased their target price on Highwoods Properties from $55.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 3rd. Citigroup Inc. increased their target price on Highwoods Properties from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, July 7th. SunTrust Banks Inc. increased their target price on Highwoods Properties from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Finally, Wood & Company reaffirmed a “buy” rating and issued a $62.00 target price on shares of Highwoods Properties in a research report on Thursday, August 4th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $52.20.
Highwoods Properties (NYSE:HIW) traded up 0.27% during midday trading on Thursday, reaching $52.24. The company’s stock had a trading volume of 30,580 shares. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 9.76 and a beta of 0.98. The company has a 50 day moving average price of $52.53 and a 200 day moving average price of $50.31. Highwoods Properties has a 1-year low of $38.08 and a 1-year high of $56.23.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 7th. Stockholders of record on Monday, August 15th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.70 annualized dividend and a dividend yield of 3.26%. Highwoods Properties’s dividend payout ratio is presently 31.89%.
In other news, SVP Jeffrey Douglas Miller sold 4,214 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $52.52, for a total transaction of $221,319.28. Following the completion of the sale, the senior vice president now directly owns 70,329 shares in the company, valued at $3,693,679.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. purchased a new position in Highwoods Properties during the second quarter worth approximately $112,728,000. FMR LLC increased its position in Highwoods Properties by 38.0% in the second quarter. FMR LLC now owns 3,287,827 shares of the real estate investment trust’s stock worth $173,596,000 after buying an additional 904,794 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Highwoods Properties during the first quarter worth approximately $38,821,000. Norges Bank purchased a new position in Highwoods Properties during the fourth quarter worth approximately $34,708,000. Finally, Goldman Sachs Group Inc. increased its position in Highwoods Properties by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 4,852,392 shares of the real estate investment trust’s stock worth $231,993,000 after buying an additional 731,364 shares during the period.
About Highwoods Properties
Highwoods Properties, Inc is a real estate investment trust. The Company provides leasing, management, development, construction and other customer-related services for its properties and for third-parties. The Company is engaged in the business of operation, acquisition and development of real estate properties.
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