Q4 2017 EPS Estimates for Highwoods Properties, Inc. (HIW) Decreased by Jefferies Group
Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at Jefferies Group lowered their Q4 2017 earnings per share (EPS) estimates for shares of Highwoods Properties in a note issued to investors on Monday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will earn $0.85 per share for the quarter, down from their previous forecast of $0.88. Jefferies Group also issued estimates for Highwoods Properties’ FY2018 earnings at $3.54 EPS.
HIW has been the topic of a number of other research reports. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. ValuEngine downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Janney Montgomery Scott began coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.00.
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Shares of Highwoods Properties (NYSE:HIW) traded down 0.04% on Wednesday, hitting $51.88. 11,669 shares of the stock traded hands. Highwoods Properties has a 52-week low of $45.83 and a 52-week high of $53.26. The stock has a market cap of $5.36 billion, a P/E ratio of 41.37 and a beta of 0.88. The stock’s 50 day moving average price is $51.35 and its 200 day moving average price is $50.81.
Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.59. The firm had revenue of $177.28 million for the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 6th. Stockholders of record on Monday, August 14th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, August 10th. Highwoods Properties’s payout ratio is currently 141.94%.
Several institutional investors have recently modified their holdings of HIW. BlackRock Inc. grew its position in shares of Highwoods Properties by 4,514.0% in the 1st quarter. BlackRock Inc. now owns 11,832,053 shares of the real estate investment trust’s stock worth $581,309,000 after buying an additional 11,575,615 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Highwoods Properties by 38.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,185,036 shares of the real estate investment trust’s stock worth $212,222,000 after buying an additional 1,160,930 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Highwoods Properties by 36.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock worth $166,240,000 after buying an additional 882,571 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Highwoods Properties by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 16,087,977 shares of the real estate investment trust’s stock worth $790,402,000 after buying an additional 749,245 shares during the last quarter. Finally, Rothschild Asset Management Inc. grew its position in shares of Highwoods Properties by 177.1% in the 2nd quarter. Rothschild Asset Management Inc. now owns 971,022 shares of the real estate investment trust’s stock worth $49,240,000 after buying an additional 620,589 shares during the last quarter. 98.12% of the stock is currently owned by hedge funds and other institutional investors.
Highwoods Properties Company Profile
Highwoods Properties, Inc is an office real estate investment trust (REIT). The Company’s primary business is the operation, acquisition and development of office properties. The Company’s segments include Office and Other. The Company 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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