Highwoods Properties Inc (HIW) Expected to Announce Quarterly Sales of $181.46 Million

Wall Street brokerages forecast that Highwoods Properties Inc (NYSE:HIW) will post sales of $181.46 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Highwoods Properties’ earnings, with the highest sales estimate coming in at $182.78 million and the lowest estimate coming in at $179.60 million. Highwoods Properties posted sales of $180.44 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.6%. The business is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Highwoods Properties will report full year sales of $739.25 million for the current year, with estimates ranging from $732.17 million to $752.22 million. For the next year, analysts anticipate that the company will post sales of $767.84 million, with estimates ranging from $746.26 million to $793.83 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Highwoods Properties.

Highwoods Properties (NYSE:HIW) last released its earnings results on Tuesday, February 5th. The real estate investment trust reported $0.86 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.86. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $176.79 million. Highwoods Properties had a net margin of 23.69% and a return on equity of 7.68%. The company’s quarterly revenue was up 952.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.84 earnings per share.

A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. ValuEngine cut shares of Highwoods Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Capital One Financial upgraded shares of Highwoods Properties from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Highwoods Properties presently has a consensus rating of “Hold” and an average target price of $53.00.

HIW opened at $44.99 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.97 and a beta of 1.01. Highwoods Properties has a twelve month low of $37.09 and a twelve month high of $52.00.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Monday, May 13th will be paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Friday, May 10th. Highwoods Properties’s payout ratio is currently 55.07%.

Hedge funds have recently made changes to their positions in the stock. State of Tennessee Treasury Department lifted its stake in shares of Highwoods Properties by 14.7% during the 4th quarter. State of Tennessee Treasury Department now owns 219,537 shares of the real estate investment trust’s stock valued at $8,494,000 after buying an additional 28,180 shares in the last quarter. Hill Winds Capital LP purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at approximately $3,869,000. Strs Ohio lifted its stake in shares of Highwoods Properties by 8.0% during the 4th quarter. Strs Ohio now owns 161,641 shares of the real estate investment trust’s stock valued at $6,253,000 after buying an additional 12,007 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Highwoods Properties during the 4th quarter valued at approximately $962,000. Finally, Pensionfund DSM Netherlands lifted its stake in shares of Highwoods Properties by 29.2% during the 4th quarter. Pensionfund DSM Netherlands now owns 39,802 shares of the real estate investment trust’s stock valued at $1,540,000 after buying an additional 9,000 shares in the last quarter. Institutional investors own 94.25% 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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Earnings History and Estimates for Highwoods Properties (NYSE:HIW)

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