Jefferies Group Weighs in on Highwoods Properties, Inc.’s Q4 2017 Earnings (HIW)
Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at Jefferies Group dropped their Q4 2017 earnings estimates for Highwoods Properties in a report issued on Monday. Jefferies Group analyst J. Petersen now expects that the real estate investment trust will post earnings per share of $0.82 for the quarter, down from their prior forecast of $0.85. Jefferies Group also issued estimates for Highwoods Properties’ FY2018 earnings at $3.49 EPS.
Highwoods Properties (NYSE:HIW) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.86 EPS for the quarter, beating the consensus estimate of $0.32 by $0.54. The business had revenue of $180.19 million for the quarter, compared to analysts’ expectations of $177.15 million. Highwoods Properties had a net margin of 22.02% and a return on equity of 7.09%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS.
Several other equities research analysts have also recently commented on HIW. BidaskClub cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Janney Montgomery Scott began coverage on shares of Highwoods Properties in a research report on Friday, September 8th. They set a “neutral” rating on the stock. Bank of America boosted their price target on shares of Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 3rd. SunTrust Banks set a $52.00 price target on shares of Highwoods Properties and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, Edward Jones cut shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Highwoods Properties has an average rating of “Hold” and an average target price of $54.80.
Shares of Highwoods Properties (NYSE:HIW) opened at $50.50 on Tuesday. The company has a market cap of $5,264.66, a price-to-earnings ratio of 15.09, a P/E/G ratio of 3.30 and a beta of 0.87. Highwoods Properties has a 52-week low of $47.97 and a 52-week high of $53.34. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.20 and a quick ratio of 1.20.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th were issued a $0.44 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.49%. Highwoods Properties’s payout ratio is 119.73%.
Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in Highwoods Properties by 1.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 162,667 shares of the real estate investment trust’s stock valued at $8,473,000 after buying an additional 2,709 shares during the last quarter. Independent Advisor Alliance grew its stake in Highwoods Properties by 27.8% in the 3rd quarter. Independent Advisor Alliance now owns 11,028 shares of the real estate investment trust’s stock valued at $582,000 after buying an additional 2,400 shares during the last quarter. Eii Capital Management Inc. acquired a new position in Highwoods Properties in the 3rd quarter valued at about $1,991,000. California Public Employees Retirement System grew its stake in Highwoods Properties by 3.6% in the 3rd quarter. California Public Employees Retirement System now owns 178,590 shares of the real estate investment trust’s stock valued at $9,303,000 after buying an additional 6,194 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Highwoods Properties by 5.4% in the 3rd quarter. Asset Management One Co. Ltd. now owns 256,924 shares of the real estate investment trust’s stock valued at $13,360,000 after buying an additional 13,063 shares during the last quarter. 96.56% of the stock is currently owned by institutional investors.
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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.
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