Highwoods Properties, Inc. (HIW) Forecasted to Post Q1 2018 Earnings of $0.83 Per Share
Highwoods Properties, Inc. (NYSE:HIW) – Investment analysts at Capital One Financial Corp. decreased their Q1 2018 earnings per share (EPS) estimates for shares of Highwoods Properties in a report issued on Wednesday. Capital One Financial Corp. analyst C. Lucas now expects that the real estate investment trust will earn $0.83 per share for the quarter, down from their prior forecast of $0.87. Capital One Financial Corp. also issued estimates for Highwoods Properties’ FY2018 earnings at $3.50 EPS.
Highwoods Properties (NYSE:HIW) last announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, topping the consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million for the quarter, compared to analysts’ expectations of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. COPYRIGHT VIOLATION NOTICE: This news story was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/20/highwoods-properties-inc-hiw-forecasted-to-post-q1-2018-earnings-of-0-83-per-share.html.
HIW has been the subject of a number of other research reports. Bank of America Corporation upped their target price on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 3rd. BidaskClub raised Highwoods Properties from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Finally, Janney Montgomery Scott started coverage on Highwoods Properties in a report on Friday, September 8th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.50.
Shares of Highwoods Properties (NYSE HIW) traded down 0.99% during mid-day trading on Friday, hitting $51.80. The stock had a trading volume of 300,793 shares. The stock has a 50 day moving average price of $52.29 and a 200 day moving average price of $51.25. The firm has a market cap of $5.35 billion, a PE ratio of 41.31 and a beta of 0.89. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $53.34.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.36%. Highwoods Properties’s payout ratio is presently 141.94%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC increased its holdings in Highwoods Properties by 3.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,898,603 shares of the real estate investment trust’s stock worth $96,278,000 after purchasing an additional 68,509 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Highwoods Properties in the 2nd quarter worth about $408,000. Koch Industries Inc. acquired a new position in Highwoods Properties in the 2nd quarter worth about $401,000. Verition Fund Management LLC increased its holdings in Highwoods Properties by 45.4% in the 2nd quarter. Verition Fund Management LLC now owns 8,891 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 2,775 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in Highwoods Properties by 1.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 30,530 shares of the real estate investment trust’s stock worth $1,548,000 after purchasing an additional 323 shares in the last quarter. 97.93% of the stock is owned by institutional investors and hedge funds.
About Highwoods Properties
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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