Equities analysts expect that Highwoods Properties Inc (NYSE:HIW) will post sales of $185.09 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Highwoods Properties’ earnings. The lowest sales estimate is $182.74 million and the highest is $186.70 million. Highwoods Properties reported sales of $179.42 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The firm is expected to announce its next earnings results on Tuesday, October 22nd.
According to Zacks, analysts expect that Highwoods Properties will report full-year sales of $728.25 million for the current year, with estimates ranging from $720.13 million to $733.90 million. For the next fiscal year, analysts expect that the business will report sales of $761.77 million, with estimates ranging from $754.57 million to $772.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Highwoods Properties.
Highwoods Properties (NYSE:HIW) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.47). Highwoods Properties had a return on equity of 6.13% and a net margin of 18.79%. The business had revenue of $184.10 million during the quarter, compared to analyst estimates of $180.20 million. During the same period in the previous year, the business posted $0.87 earnings per share. The firm’s quarterly revenue was up 3.0% on a year-over-year basis.
Shares of NYSE HIW traded up $0.46 during midday trading on Wednesday, hitting $44.13. The stock had a trading volume of 1,531,900 shares, compared to its average volume of 689,733. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 3.30 and a beta of 0.81. Highwoods Properties has a 1-year low of $37.09 and a 1-year high of $50.81. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $43.64 and a 200 day moving average price of $44.74.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Monday, August 12th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, August 9th. Highwoods Properties’s dividend payout ratio (DPR) is presently 55.07%.
A number of large investors have recently bought and sold shares of HIW. Victory Capital Management Inc. raised its position in 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 valued at $142,596,000 after buying an additional 2,790,799 shares during the period. Heitman Real Estate Securities LLC acquired a new position in Highwoods Properties during the second quarter valued at $37,783,000. FMR LLC raised its position in 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 valued at $223,846,000 after buying an additional 375,093 shares during the period. Price T Rowe Associates Inc. MD raised its position in Highwoods Properties by 26.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,681,827 shares of the real estate investment trust’s stock valued at $69,459,000 after buying an additional 346,806 shares during the period. Finally, Bank of America Corp DE raised its position in Highwoods Properties by 132.3% during the second quarter. Bank of America Corp DE now owns 563,763 shares of the real estate investment trust’s stock valued at $23,284,000 after buying an additional 321,060 shares during the period. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
About Highwoods Properties
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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