Highwoods Properties, Inc. (NYSE:HIW) Expected to Post Quarterly Sales of $201.45 Million

Equities research analysts expect Highwoods Properties, Inc. (NYSE:HIWGet Rating) to report $201.45 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Highwoods Properties’ earnings. The lowest sales estimate is $200.60 million and the highest is $202.86 million. Highwoods Properties reported sales of $183.81 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.6%. The firm is expected to issue its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Highwoods Properties will report full-year sales of $803.44 million for the current fiscal year, with estimates ranging from $801.24 million to $806.08 million. For the next fiscal year, analysts anticipate that the company will post sales of $824.63 million, with estimates ranging from $815.79 million to $833.90 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Highwoods Properties.

Highwoods Properties (NYSE:HIWGet Rating) last issued its quarterly earnings results on Monday, February 7th. The real estate investment trust reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.47. Highwoods Properties had a net margin of 40.63% and a return on equity of 12.73%. The business had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $199.79 million. During the same period last year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis.

A number of brokerages have commented on HIW. TheStreet upgraded shares of Highwoods Properties from a “c+” rating to a “b-” rating in a research report on Tuesday, March 22nd. StockNews.com upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. Morgan Stanley dropped their price objective on Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, February 10th. Robert W. Baird raised Highwoods Properties from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $53.00 in a research note on Wednesday, January 12th. Finally, Jefferies Financial Group raised Highwoods Properties from a “hold” rating to a “buy” rating and increased their price objective for the company from $44.00 to $54.00 in a research note on Monday, January 10th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $49.40.

Shares of NYSE HIW opened at $42.99 on Wednesday. Highwoods Properties has a one year low of $40.85 and a one year high of $48.98. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $43.86 and its two-hundred day simple moving average is $44.61. The stock has a market capitalization of $4.51 billion, a P/E ratio of 14.47, a PEG ratio of 2.88 and a beta of 1.08.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Tuesday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, February 18th. Highwoods Properties’s payout ratio is 67.34%.

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC lifted its stake in Highwoods Properties by 99.2% in the third quarter. Hsbc Holdings PLC now owns 62,510 shares of the real estate investment trust’s stock worth $2,772,000 after acquiring an additional 31,123 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Highwoods Properties by 3.6% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 99,214 shares of the real estate investment trust’s stock valued at $4,424,000 after buying an additional 3,491 shares during the period. State of Michigan Retirement System lifted its position in Highwoods Properties by 1.1% during the fourth quarter. State of Michigan Retirement System now owns 26,401 shares of the real estate investment trust’s stock valued at $1,177,000 after buying an additional 300 shares during the period. Verdence Capital Advisors LLC purchased a new position in Highwoods Properties during the fourth quarter valued at $323,000. Finally, Nordea Investment Management AB lifted its position in Highwoods Properties by 99.3% during the third quarter. Nordea Investment Management AB now owns 303,270 shares of the real estate investment trust’s stock valued at $13,686,000 after buying an additional 151,094 shares during the period. 96.35% of the stock is owned by institutional investors.

About Highwoods Properties (Get Rating)

Highwoods Properties, Inc operates as a real estate investment trust, which engages in the operation, acquisition and development of office properties. It operates through the office, and other segments. Its markets includes Atlanta, Charlotte, Greensboro, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, and Tampa.

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