Highwoods Properties, Inc. (NYSE:HIW) Expected to Earn Q1 2023 Earnings of $0.97 Per Share

Highwoods Properties, Inc. (NYSE:HIW – Get Rating) – Equities researchers at Jefferies Financial Group reduced their Q1 2023 earnings estimates for Highwoods Properties in a research report issued on Thursday, April 14th. Jefferies Financial Group analyst P. Abramowitz now expects that the real estate investment trust will earn $0.97 per share for the quarter, down from their previous estimate of $0.98. Jefferies Financial Group has a “Buy” rating and a $54.00 price target on the stock. Jefferies Financial Group also issued estimates for Highwoods Properties’ Q3 2023 earnings at $1.01 EPS, FY2023 earnings at $4.00 EPS and FY2024 earnings at $4.26 EPS.

Highwoods Properties (NYSE:HIW – Get Rating) last announced its quarterly earnings results on Monday, February 7th. The real estate investment trust reported $1.19 earnings per share 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 firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $199.79 million. During the same period in the previous year, the company earned $0.87 earnings per share. Highwoods Properties’s quarterly revenue was up 12.9% compared to the same quarter last year.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley reduced their price target on shares of Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, February 10th. Robert W. Baird raised shares of Highwoods Properties from a “neutral” rating to an “outperform” rating and upped their target price for the company from $50.00 to $53.00 in a report on Wednesday, January 12th. TheStreet raised shares of Highwoods Properties from a “c+” rating to a “b-” rating in a report on Tuesday, March 22nd. Finally, StockNews.com raised shares of Highwoods Properties from a “hold” rating to a “buy” rating in a report on Friday, April 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $49.40.

Shares of HIW opened at $43.67 on Friday. Highwoods Properties has a 1-year low of $40.85 and a 1-year high of $48.98. The stock has a market cap of $4.58 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 2.90 and a beta of 1.08. 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 has a fifty day moving average price of $43.89 and a 200 day moving average price of $44.60.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, February 22nd were paid a dividend of $0.50 per share. The ex-dividend date was Friday, February 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.58%. Highwoods Properties’s dividend payout ratio (DPR) is 67.34%.

Institutional investors have recently modified their holdings of the company. AGF Investments LLC acquired a new position in shares of Highwoods Properties during the fourth quarter worth about $35,000. FourThought Financial LLC increased its stake in shares of Highwoods Properties by 361.0% during the third quarter. FourThought Financial LLC now owns 1,254 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 982 shares during the period. Covestor Ltd acquired a new position in shares of Highwoods Properties during the fourth quarter worth about $56,000. Quadrant Capital Group LLC increased its stake in shares of Highwoods Properties by 91.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,292 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 618 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of Highwoods Properties during the third quarter worth about $84,000. Institutional investors and hedge funds own 96.35% of the company’s stock.

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.

Read More