Q3 2018 Earnings Forecast for Highwoods Properties, Inc. (HIW) Issued By SunTrust Banks
Highwoods Properties, Inc. (NYSE:HIW) – Investment analysts at SunTrust Banks reduced their Q3 2018 earnings estimates for shares of Highwoods Properties in a research report issued to clients and investors on Wednesday, April 25th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings of $0.86 per share for the quarter, down from their previous estimate of $0.87. SunTrust Banks currently has a “Buy” rating and a $51.00 target price on the stock. SunTrust Banks also issued estimates for Highwoods Properties’ Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $0.88 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $0.90 EPS, FY2021 earnings at $3.79 EPS and FY2022 earnings at $4.05 EPS.
Highwoods Properties (NYSE:HIW) last released its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.28). Highwoods Properties had a net margin of 25.90% and a return on equity of 8.40%. The business had revenue of $175.86 million during the quarter, compared to analysts’ expectations of $177.14 million.
Highwoods Properties stock opened at $44.60 on Friday. Highwoods Properties has a 1-year low of $41.34 and a 1-year high of $53.34. The company has a market capitalization of $4,474.02, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 4.22 and a beta of 0.74. The company has a quick ratio of 1.40, a current ratio of 1.47 and a debt-to-equity ratio of 0.95.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.15%. Highwoods Properties’s dividend payout ratio (DPR) is currently 56.40%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB purchased a new position in shares of Highwoods Properties during the 4th quarter valued at $225,000. Envestnet Asset Management Inc. grew its position in shares of Highwoods Properties by 632.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 21,393 shares of the real estate investment trust’s stock valued at $1,089,000 after purchasing an additional 18,471 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Highwoods Properties during the 4th quarter valued at $3,326,000. Jump Trading LLC purchased a new position in shares of Highwoods Properties during the 4th quarter valued at $442,000. Finally, BB&T Securities LLC purchased a new position in shares of Highwoods Properties during the 4th quarter valued at $200,000. Hedge funds and other institutional investors own 96.54% of the company’s stock.
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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