Highwoods Properties Inc (NYSE:HIW) – Equities researchers at DA Davidson decreased their Q1 2018 earnings per share estimates for shares of Highwoods Properties in a report released on Wednesday. DA Davidson analyst B. Oxford now expects that the real estate investment trust will earn $0.82 per share for the quarter, down from their previous forecast of $0.83. DA Davidson also issued estimates for Highwoods Properties’ Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $0.87 EPS, Q4 2018 earnings at $0.88 EPS, FY2018 earnings at $3.44 EPS, Q1 2019 earnings at $0.89 EPS and FY2019 earnings at $3.61 EPS.
Other analysts have also issued research reports about the stock. Stifel Nicolaus lowered their target price on shares of Highwoods Properties from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday. ValuEngine lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. SunTrust Banks set a $52.00 price target on shares of Highwoods Properties and gave the company a “hold” rating in a report on Tuesday, October 24th. Finally, Edward Jones lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Highwoods Properties has a consensus rating of “Hold” and an average target price of $51.50.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Tuesday, February 20th will be issued a $0.4625 dividend. This is a positive change from Highwoods Properties’s previous quarterly dividend of $0.44. This represents a $1.85 annualized dividend and a dividend yield of 4.32%. Highwoods Properties’s payout ratio is 99.44%.
In other news, Director Sherry A. Kellett sold 1,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $51.70, for a total value of $51,700.00. Following the completion of the transaction, the director now owns 11,744 shares of the company’s stock, valued at approximately $607,164.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sherry A. Kellett sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $50.64, for a total transaction of $101,280.00. Following the completion of the transaction, the director now directly owns 13,744 shares of the company’s stock, valued at approximately $695,996.16. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Wealthstreet Investment Advisors LLC acquired a new position in Highwoods Properties in the 4th quarter worth $204,000. Tudor Investment Corp ET AL acquired a new position in Highwoods Properties in the 2nd quarter worth $207,000. Public Employees Retirement Association of Colorado boosted its stake in Highwoods Properties by 74.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 5,574 shares of the real estate investment trust’s stock worth $284,000 after purchasing an additional 2,375 shares during the period. Parametrica Management Ltd acquired a new position in Highwoods Properties in the 3rd quarter worth $288,000. Finally, Janus Henderson Group PLC acquired a new position in Highwoods Properties in the 2nd quarter worth $295,000. 96.59% of the stock is 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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