FY2018 EPS Estimates for Highwoods Properties, Inc. Cut by SunTrust Banks (NYSE:HIW)

Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at SunTrust Banks decreased their FY2018 earnings estimates for shares of Highwoods Properties in a research report issued on Wednesday. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will earn $3.52 per share for the year, down from their previous forecast of $3.56. SunTrust Banks also issued estimates for Highwoods Properties’ FY2019 earnings at $3.67 EPS, FY2020 earnings at $3.83 EPS and FY2021 earnings at $3.95 EPS.

Highwoods Properties (NYSE:HIW) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 EPS for the quarter, beating the consensus estimate of $0.31 by $0.59. The company had revenue of $177.28 million during the quarter, compared to analysts’ expectations of $172.28 million. Highwoods Properties had a net margin of 18.79% and a return on equity of 5.96%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

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Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub raised shares of Highwoods Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $55.00 price target on shares of Highwoods Properties in a research note on Wednesday, April 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Highwoods Properties presently has a consensus rating of “Hold” and an average price target of $56.40.

Shares of Highwoods Properties (HIW) traded up 0.80% during mid-day trading on Monday, hitting $51.93. 405,696 shares of the company’s stock traded hands. The firm has a 50-day moving average of $51.07 and a 200 day moving average of $50.83. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $56.23. The company has a market cap of $5.36 billion, a PE ratio of 41.41 and a beta of 0.88.

Institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Highwoods Properties by 1.5% in the fourth quarter. Macquarie Group Ltd. now owns 1,547,142 shares of the real estate investment trust’s stock worth $78,920,000 after buying an additional 22,684 shares in the last quarter. Pensionfund Sabic increased its position in shares of Highwoods Properties by 7.5% in the first quarter. Pensionfund Sabic now owns 14,398 shares of the real estate investment trust’s stock worth $707,000 after buying an additional 1,000 shares in the last quarter. Copper Rock Capital Partners LLC increased its position in shares of Highwoods Properties by 2.0% in the first quarter. Copper Rock Capital Partners LLC now owns 468,136 shares of the real estate investment trust’s stock worth $22,990,000 after buying an additional 9,135 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Highwoods Properties by 8.4% in the first quarter. Capstone Asset Management Co. now owns 7,578 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 590 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in shares of Highwoods Properties by 3.6% in the first quarter. Louisiana State Employees Retirement System now owns 25,700 shares of the real estate investment trust’s stock worth $1,263,000 after buying an additional 900 shares in the last quarter. 97.90% of the stock is owned by institutional investors and hedge funds.

In related news, COO Theodore J. Klinck sold 10,000 shares of Highwoods Properties stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $52.51, for a total transaction of $525,100.00. Following the completion of the transaction, the chief operating officer now owns 63,194 shares of the company’s stock, valued at $3,318,316.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.90% of the stock is owned by company insiders.

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.

Earnings History and Estimates for Highwoods Properties (NYSE:HIW)

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