Analysts predict that Highwoods Properties Inc (NYSE:HIW) will report $180.16 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Highwoods Properties’ earnings, with estimates ranging from $173.93 million to $183.18 million. Highwoods Properties posted sales of $178.79 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, July 23rd.
On average, analysts expect that Highwoods Properties will report full-year sales of $724.46 million for the current year, with estimates ranging from $697.32 million to $740.13 million. For the next financial year, analysts forecast that the business will report sales of $756.50 million, with estimates ranging from $711.30 million to $771.96 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, April 23rd. The real estate investment trust reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.12). The company had revenue of $172.36 million during the quarter, compared to analyst estimates of $181.72 million. Highwoods Properties had a net margin of 20.42% and a return on equity of 6.59%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS.
Shares of Highwoods Properties stock opened at $41.30 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 3.05 and a beta of 0.90. The firm has a 50 day moving average of $43.85. Highwoods Properties has a fifty-two week low of $37.09 and a fifty-two week high of $52.00.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Monday, May 13th were paid a $0.475 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.90 dividend on an annualized basis and a yield of 4.60%. Highwoods Properties’s payout ratio is presently 55.07%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc boosted its position in shares of Highwoods Properties by 0.7% during the third quarter. Vanguard Group Inc now owns 15,331,831 shares of the real estate investment trust’s stock worth $724,584,000 after purchasing an additional 104,562 shares in the last quarter. BlackRock Inc. boosted its position in shares of Highwoods Properties by 1.0% during the first quarter. BlackRock Inc. now owns 14,262,498 shares of the real estate investment trust’s stock worth $667,198,000 after purchasing an additional 138,402 shares in the last quarter. FMR LLC boosted its position in shares of Highwoods Properties by 8.5% during the first quarter. FMR LLC now owns 4,785,085 shares of the real estate investment trust’s stock worth $223,846,000 after purchasing an additional 375,093 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Highwoods Properties by 1,084.1% during the first quarter. Victory Capital Management Inc. now owns 3,048,220 shares of the real estate investment trust’s stock worth $142,596,000 after purchasing an additional 2,790,799 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Highwoods Properties by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,601,574 shares of the real estate investment trust’s stock worth $61,965,000 after purchasing an additional 17,556 shares in the last quarter. 93.41% of the stock is currently owned by institutional investors.
Highwoods Properties Company Profile
Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that 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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