Capital One Financial Corp. Comments on Highwoods Properties Inc.’s FY2016 Earnings (HIW)
Highwoods Properties Inc. (NYSE:HIW) – Investment analysts at Capital One Financial Corp. lifted their FY2016 earnings per share (EPS) estimates for shares of Highwoods Properties in a report released on Friday. Capital One Financial Corp. analyst T. Lesnick now forecasts that the firm will earn $3.28 per share for the year, up from their previous forecast of $3.27. Capital One Financial Corp. also issued estimates for Highwoods Properties’ Q4 2016 earnings at $0.82 EPS and FY2018 earnings at $3.62 EPS.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings results on Tuesday, October 25th. The real estate investment trust reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. Highwoods Properties had a net margin of 78.81% and a return on equity of 4.97%. The business had revenue of $166.30 million for the quarter, compared to analysts’ expectations of $169.05 million. During the same period in the prior year, the firm earned $0.77 earnings per share. Highwoods Properties’s revenue was up 10.3% compared to the same quarter last year.
Several other analysts have also recently weighed in on HIW. Wood & Company reiterated a “buy” rating and issued a $62.00 price objective on shares of Highwoods Properties in a research note on Thursday, August 4th. Zacks Investment Research upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research note on Wednesday, October 5th. Stifel Nicolaus upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $53.50 to $55.00 in a research note on Thursday, October 27th. They noted that the move was a valuation call. BTIG Research started coverage on shares of Highwoods Properties in a research note on Thursday, August 25th. They issued a “neutral” rating for the company. Finally, Oppenheimer Holdings Inc. lifted their price objective on shares of Highwoods Properties from $55.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 3rd. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.11.
Shares of Highwoods Properties (NYSE:HIW) opened at 46.78 on Monday. Highwoods Properties has a 1-year low of $38.08 and a 1-year high of $56.23. The stock’s 50 day moving average is $49.64 and its 200 day moving average is $50.76. The company has a market capitalization of $4.69 billion, a PE ratio of 9.02 and a beta of 0.92.
Several large investors have recently made changes to their positions in the stock. Security Capital Research & Management Inc. bought a new stake in shares of Highwoods Properties during the second quarter valued at about $110,000. Canada Pension Plan Investment Board raised its stake in shares of Highwoods Properties by 36.8% in the third quarter. Canada Pension Plan Investment Board now owns 2,600 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 700 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in shares of Highwoods Properties during the second quarter valued at about $162,000. BB&T Securities LLC bought a new stake in shares of Highwoods Properties during the third quarter valued at about $203,000. Finally, Cadence Capital Management LLC bought a new stake in shares of Highwoods Properties during the second quarter valued at about $234,000.
In related news, SVP Jeffrey Douglas Miller sold 4,214 shares of Highwoods Properties stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.52, for a total transaction of $221,319.28. Following the sale, the senior vice president now directly owns 70,329 shares of the company’s stock, valued at approximately $3,693,679.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Monday, November 14th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Wednesday, November 9th. Highwoods Properties’s dividend payout ratio (DPR) is presently 31.84%.
Highwoods Properties Company Profile
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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