Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at Jefferies Group cut their Q4 2017 earnings 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 prior estimate of $0.88. Jefferies Group also issued estimates for Highwoods Properties’ FY2018 earnings at $3.54 EPS.
HIW has been the topic of several other research reports. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. ValuEngine cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Janney Montgomery Scott started coverage on shares of Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Highwoods Properties has a consensus rating of “Hold” and an average price target of $55.00.
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Highwoods Properties (NYSE:HIW) opened at 51.99 on Wednesday. The firm has a market cap of $5.37 billion, a P/E ratio of 41.46 and a beta of 0.88. Highwoods Properties has a 1-year low of $45.83 and a 1-year high of $53.26. The stock has a 50 day moving average price of $51.35 and a 200-day moving average price of $50.81.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million for the quarter, compared to the consensus estimate of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Investors of record on Monday, August 14th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.76 annualized dividend and a yield of 3.39%. Highwoods Properties’s payout ratio is 141.94%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC lifted its holdings in Highwoods Properties by 3.7% in the second quarter. Lord Abbett & CO. LLC now owns 1,898,603 shares of the real estate investment trust’s stock valued at $96,278,000 after buying an additional 68,509 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Highwoods Properties in the second quarter valued at $408,000. Koch Industries Inc. acquired a new position in Highwoods Properties in the second quarter valued at $401,000. Verition Fund Management LLC lifted its holdings in Highwoods Properties by 45.4% in the second quarter. Verition Fund Management LLC now owns 8,891 shares of the real estate investment trust’s stock valued at $451,000 after buying an additional 2,775 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in Highwoods Properties by 1.1% in the second quarter. Ameritas Investment Partners Inc. now owns 30,530 shares of the real estate investment trust’s stock valued at $1,548,000 after buying an additional 323 shares during the period. Institutional investors and hedge funds own 98.12% of the company’s stock.
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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