Jefferies Group Research Analysts Lower Earnings Estimates for Highwoods Properties, Inc. (HIW)

Highwoods Properties, Inc. (NYSE:HIW) – Analysts at Jefferies Group dropped their FY2018 earnings per share estimates for shares of Highwoods Properties in a research note issued to investors on Thursday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will earn $3.47 per share for the year, down from their prior estimate of $3.49. Jefferies Group also issued estimates for Highwoods Properties’ FY2019 earnings at $3.64 EPS.

Highwoods Properties (NYSE:HIW) last issued its earnings results 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. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The business had revenue of $180.19 million for the quarter, compared to the consensus estimate of $177.15 million. During the same period last year, the business posted $0.82 EPS. The company’s revenue was up 8.4% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on HIW. Janney Montgomery Scott started coverage on Highwoods Properties in a research note on Friday, September 8th. They issued a “neutral” rating on the stock. Bank of America raised their price target on Highwoods Properties from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. SunTrust Banks set a $52.00 price target on Highwoods Properties and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Finally, Edward Jones downgraded Highwoods Properties from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $54.80.

Highwoods Properties (NYSE HIW) traded down $0.33 during mid-day trading on Friday, hitting $50.18. The stock had a trading volume of 446,900 shares, compared to its average volume of 536,726. The stock has a market cap of $5,215.10, a P/E ratio of 14.94, a P/E/G ratio of 3.22 and a beta of 0.87. Highwoods Properties has a 52-week low of $48.42 and a 52-week high of $53.34. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.90.

A number of large investors have recently bought and sold shares of HIW. Legal & General Group Plc grew its position in shares of Highwoods Properties by 6.9% during the second quarter. Legal & General Group Plc now owns 338,537 shares of the real estate investment trust’s stock valued at $17,167,000 after purchasing an additional 21,833 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Highwoods Properties by 36.8% during the second quarter. JPMorgan Chase & Co. now owns 3,278,256 shares of the real estate investment trust’s stock valued at $166,240,000 after purchasing an additional 882,571 shares in the last quarter. Westpac Banking Corp grew its position in Highwoods Properties by 7.0% in the third quarter. Westpac Banking Corp now owns 53,780 shares of the real estate investment trust’s stock worth $2,801,000 after acquiring an additional 3,500 shares in the last quarter. Cbre Clarion Securities LLC grew its position in Highwoods Properties by 19.0% in the second quarter. Cbre Clarion Securities LLC now owns 143,700 shares of the real estate investment trust’s stock worth $7,287,000 after acquiring an additional 22,900 shares in the last quarter. Finally, Honeywell International Inc. grew its position in Highwoods Properties by 17.4% in the third quarter. Honeywell International Inc. now owns 47,142 shares of the real estate investment trust’s stock worth $2,456,000 after acquiring an additional 6,992 shares in the last quarter. 96.31% of the stock is currently owned by institutional investors and hedge funds.

In other Highwoods Properties news, Director Sherry A. Kellett sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $50.64, for a total transaction of $101,280.00. Following the sale, the director now directly owns 13,744 shares of the company’s stock, valued at $695,996.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sherry A. Kellett sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $51.70, for a total value of $51,700.00. Following the sale, the director now directly owns 11,744 shares in the company, valued at $607,164.80. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by company insiders.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th were issued a $0.44 dividend. The ex-dividend date was Monday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. Highwoods Properties’s dividend payout ratio is currently 119.73%.

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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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