Wall Street brokerages expect Highwoods Properties Inc (NYSE:HIW) to report $177.66 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Highwoods Properties’ earnings. The lowest sales estimate is $176.17 million and the highest is $178.94 million. Highwoods Properties reported sales of $180.19 million in the same quarter last year, which would suggest a negative year over year growth rate of 1.4%. The business is scheduled to report its next earnings results after the market closes on Tuesday, October 23rd.
According to Zacks, analysts expect that Highwoods Properties will report full-year sales of $716.93 million for the current year, with estimates ranging from $713.30 million to $724.00 million. For the next year, analysts forecast that the firm will post sales of $743.09 million, with estimates ranging from $728.97 million to $754.88 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Highwoods Properties.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, July 24th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.37). The business had revenue of $178.79 million during the quarter, compared to the consensus estimate of $178.37 million. Highwoods Properties had a net margin of 27.68% and a return on equity of 8.96%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS.
In other Highwoods Properties news, CFO Mark F. Mulhern sold 14,141 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $49.96, for a total value of $706,484.36. Following the completion of the sale, the chief financial officer now owns 81,780 shares of the company’s stock, valued at approximately $4,085,728.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Several institutional investors have recently modified their holdings of HIW. First Hawaiian Bank bought a new stake in shares of Highwoods Properties during the 3rd quarter worth approximately $185,000. Advisors Asset Management Inc. lifted its holdings in shares of Highwoods Properties by 213.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 26,649 shares of the real estate investment trust’s stock worth $189,000 after acquiring an additional 18,141 shares during the period. Wealthstreet Investment Advisors LLC bought a new stake in shares of Highwoods Properties during the 2nd quarter worth approximately $203,000. Brown Advisory Inc. bought a new stake in shares of Highwoods Properties during the 2nd quarter worth approximately $206,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Highwoods Properties during the 2nd quarter worth approximately $220,000. 92.42% of the stock is owned by institutional investors.
NYSE HIW opened at $45.07 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 4.62 and a beta of 0.73. Highwoods Properties has a 12-month low of $41.34 and a 12-month high of $53.09.
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 fullyintegrated 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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