Wall Street analysts forecast that Highwoods Properties Inc (NYSE:HIW) will announce sales of $177.54 million for the current quarter, Zacks reports. Five analysts have issued estimates for Highwoods Properties’ earnings. The highest sales estimate is $180.50 million and the lowest is $175.41 million. Highwoods Properties reported sales of $169.41 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The business is scheduled to announce its next quarterly earnings report on Tuesday, April 24th.
On average, analysts expect that Highwoods Properties will report full-year sales of $177.54 million for the current fiscal year, with estimates ranging from $706.96 million to $729.34 million. For the next year, analysts forecast that the firm will report sales of $746.83 million per share, with estimates ranging from $726.85 million to $770.88 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Highwoods Properties.
Several research analysts have commented on the company. Zacks Investment Research downgraded Highwoods Properties from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Stifel Nicolaus cut their target price on Highwoods Properties from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. ValuEngine lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. SunTrust Banks set a $51.00 price objective on Highwoods Properties and gave the stock a “hold” rating in a research report on Monday, January 22nd. Finally, Edward Jones lowered Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $51.50.
Several hedge funds have recently bought and sold shares of the company. Hardman Johnston Global Advisors LLC increased its position in Highwoods Properties by 4.0% in the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 26,300 shares of the real estate investment trust’s stock valued at $1,370,000 after buying an additional 1,000 shares in the last quarter. Sei Investments Co. increased its position in Highwoods Properties by 0.9% in the 3rd quarter. Sei Investments Co. now owns 125,120 shares of the real estate investment trust’s stock valued at $6,517,000 after buying an additional 1,064 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in Highwoods Properties by 0.8% in the 4th quarter. Monarch Partners Asset Management LLC now owns 153,907 shares of the real estate investment trust’s stock valued at $7,835,000 after buying an additional 1,150 shares in the last quarter. Meadow Creek Investment Management LLC increased its position in Highwoods Properties by 20.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 1,264 shares in the last quarter. Finally, Aperio Group LLC increased its position in Highwoods Properties by 5.2% in the 3rd quarter. Aperio Group LLC now owns 25,612 shares of the real estate investment trust’s stock valued at $1,334,000 after buying an additional 1,273 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.
Highwoods Properties (NYSE:HIW) opened at $43.68 on Tuesday. The company has a market capitalization of $4,511.45, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.29 and a beta of 0.74. Highwoods Properties has a twelve month low of $41.83 and a twelve month high of $53.34. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be given a $0.4625 dividend. The ex-dividend date is Friday, February 16th. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 4.24%. Highwoods Properties’s dividend payout ratio (DPR) is 104.52%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Highwoods Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Highwoods Properties and related companies with MarketBeat.com's FREE daily email newsletter.