Highwoods Properties Inc (HIW) Expected to Post Quarterly Sales of $176.08 Million

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Wall Street brokerages predict that Highwoods Properties Inc (NYSE:HIW) will post sales of $176.08 million for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Highwoods Properties’ earnings. The highest sales estimate is $180.70 million and the lowest is $165.89 million. Highwoods Properties reported sales of $175.86 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.1%. The firm is expected to report its next earnings report on Tuesday, February 5th.

According to Zacks, analysts expect that Highwoods Properties will report full year sales of $706.71 million for the current financial year, with estimates ranging from $659.10 million to $719.34 million. For the next year, analysts anticipate that the firm will report sales of $732.96 million, with estimates ranging from $691.57 million to $746.60 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Highwoods Properties.

Highwoods Properties (NYSE:HIW) last issued its quarterly earnings data on Tuesday, October 23rd. The real estate investment trust reported $0.32 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.32. Highwoods Properties had a return on equity of 7.87% and a net margin of 24.37%. The business had revenue of $179.42 million during the quarter, compared to analysts’ expectations of $173.78 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was down .4% on a year-over-year basis.

Several research analysts recently commented on the company. Zacks Investment Research raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. ValuEngine raised Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Wood & Company reissued a “sell” rating on shares of Highwoods Properties in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Capital Advisors LLC lifted its holdings in Highwoods Properties by 17.4% during the 2nd quarter. Anchor Capital Advisors LLC now owns 8,675 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 1,285 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Highwoods Properties by 2.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 64,340 shares of the real estate investment trust’s stock valued at $3,041,000 after purchasing an additional 1,340 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Highwoods Properties by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 562,119 shares of the real estate investment trust’s stock valued at $26,566,000 after purchasing an additional 1,446 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Highwoods Properties by 1.1% in the 2nd quarter. New York State Teachers Retirement System now owns 142,533 shares of the real estate investment trust’s stock valued at $7,231,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Highwoods Properties by 10.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,600 shares of the real estate investment trust’s stock valued at $737,000 after purchasing an additional 1,500 shares during the last quarter. 92.02% of the stock is owned by institutional investors.

HIW traded down $0.07 on Wednesday, hitting $43.35. 642,916 shares of the company were exchanged, compared to its average volume of 597,720. Highwoods Properties has a twelve month low of $41.34 and a twelve month high of $52.58. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 3.05 and a beta of 0.80. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.13 and a quick ratio of 1.13.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th were issued a dividend of $0.4625 per share. This represents a $1.85 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend was Thursday, November 8th. Highwoods Properties’s dividend payout ratio (DPR) is 56.40%.

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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