DA Davidson Comments on Highwoods Properties Inc’s Q1 2018 Earnings (HIW)
Highwoods Properties Inc (NYSE:HIW) – Analysts at DA Davidson dropped their Q1 2018 earnings per share (EPS) estimates for shares of Highwoods Properties in a research note issued to investors on Wednesday. DA Davidson analyst B. Oxford now anticipates that the real estate investment trust will post earnings of $0.82 per share for the quarter, down from their prior forecast of $0.83. DA Davidson also issued estimates for Highwoods Properties’ Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.44 EPS, Q1 2019 earnings at $0.89 EPS and FY2019 earnings at $3.61 EPS.
Several other research firms have also issued reports on HIW. SunTrust Banks set a $51.00 price target on Highwoods Properties and gave the stock a “hold” rating in a research report on Monday, January 22nd. Stifel Nicolaus reduced their price target on Highwoods Properties from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Thursday, January 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $51.50.
A number of hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its holdings in Highwoods Properties by 1.1% during the second quarter. Ameritas Investment Partners Inc. now owns 30,530 shares of the real estate investment trust’s stock worth $1,548,000 after acquiring an additional 323 shares in the last quarter. Hardman Johnston Global Advisors LLC lifted its holdings in Highwoods Properties by 4.0% during the third quarter. Hardman Johnston Global Advisors LLC now owns 26,300 shares of the real estate investment trust’s stock worth $1,370,000 after acquiring an additional 1,000 shares in the last quarter. Sei Investments Co. lifted its holdings in Highwoods Properties by 0.9% during the third quarter. Sei Investments Co. now owns 125,120 shares of the real estate investment trust’s stock worth $6,517,000 after acquiring an additional 1,064 shares in the last quarter. Monarch Partners Asset Management LLC raised its stake in shares of Highwoods Properties by 0.8% in the 4th quarter. Monarch Partners Asset Management LLC now owns 153,907 shares of the real estate investment trust’s stock valued at $7,835,000 after purchasing an additional 1,150 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Highwoods Properties by 5.2% in the 3rd quarter. Aperio Group LLC now owns 25,612 shares of the real estate investment trust’s stock valued at $1,334,000 after purchasing an additional 1,273 shares during the period. Hedge funds and other institutional investors own 96.59% of the company’s stock.
In other Highwoods Properties news, Director Sherry A. Kellett sold 2,000 shares of Highwoods Properties stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the transaction, the director now directly owns 13,744 shares in the company, valued at $695,996.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Sherry A. Kellett sold 1,000 shares of Highwoods Properties stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $51.70, for a total value of $51,700.00. Following the transaction, the director now owns 11,744 shares in the company, valued at $607,164.80. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.4625 per share. The ex-dividend date of this dividend is Friday, February 16th. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a yield of 4.23%. Highwoods Properties’s payout ratio is currently 99.44%.
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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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