Analysts expect that Highwoods Properties Inc (NYSE:HIW) will post earnings per share (EPS) of $0.82 for the current quarter, according to Zacks. Five analysts have provided estimates for Highwoods Properties’ earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.81. Highwoods Properties reported earnings of $0.80 per share during the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The business is expected to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Highwoods Properties will report full-year earnings of $3.43 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.48. For the next financial year, analysts expect that the company will post earnings of $3.57 per share, with EPS estimates ranging from $3.50 to $3.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Highwoods Properties.
HIW has been the subject of several recent research reports. SunTrust Banks set a $51.00 target price on shares of Highwoods Properties and gave the company a “hold” rating in a research note on Monday, January 22nd. Stifel Nicolaus lowered their target price on shares of Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Edward Jones lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Zacks Investment Research lowered shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Finally, ValuEngine upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Highwoods Properties has an average rating of “Hold” and a consensus price target of $51.50.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.4625 per share. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, February 16th. This represents a $1.85 annualized dividend and a yield of 4.24%. Highwoods Properties’s payout ratio is presently 99.44%.
In other news, Director Sherry A. Kellett sold 1,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $51.70, for a total transaction of $51,700.00. Following the completion of the transaction, the director now owns 11,744 shares in the company, valued at $607,164.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sherry A. Kellett sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the transaction, the director now owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Aurora Investment Counsel bought a new position in shares of Highwoods Properties during the fourth quarter worth about $2,069,000. Westpac Banking Corp grew its position in shares of Highwoods Properties by 7.0% during the third quarter. Westpac Banking Corp now owns 53,780 shares of the real estate investment trust’s stock worth $2,801,000 after acquiring an additional 3,500 shares during the last quarter. Legal & General Group Plc grew its position in shares of Highwoods Properties by 9.7% during the third quarter. Legal & General Group Plc now owns 371,232 shares of the real estate investment trust’s stock worth $19,338,000 after acquiring an additional 32,695 shares during the last quarter. Bank of Montreal Can grew its position in shares of Highwoods Properties by 1.2% during the fourth quarter. Bank of Montreal Can now owns 784,753 shares of the real estate investment trust’s stock worth $39,951,000 after acquiring an additional 9,120 shares during the last quarter. Finally, Honeywell International Inc. grew its position in shares of Highwoods Properties by 17.4% during the third quarter. Honeywell International Inc. now owns 47,142 shares of the real estate investment trust’s stock worth $2,456,000 after acquiring an additional 6,992 shares during the last quarter. Institutional investors and hedge funds own 96.21% of the company’s stock.
About Highwoods Properties
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.
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