Highwoods Properties, Inc. (NYSE:HIW) – Research analysts at SunTrust Banks reduced their FY2018 earnings per share (EPS) estimates for shares of Highwoods Properties in a report released on Wednesday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings of $3.52 per share for the year, down from their previous estimate 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 announced its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.90 earnings per share 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 the consensus estimate of $172.28 million. Highwoods Properties had a return on equity of 5.96% and a net margin of 18.79%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. TRADEMARK VIOLATION NOTICE: This story was first posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this story on another website, it was illegally stolen and republished in violation of U.S. and international copyright & trademark legislation. The original version of this story can be viewed at https://sportsperspectives.com/2017/08/10/suntrust-banks-analysts-decrease-earnings-estimates-for-highwoods-properties-inc-hiw-updated.html.
Several other research analysts also recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $55.00 target price on shares of Highwoods Properties in a report on Wednesday, April 19th. BidaskClub downgraded shares of Highwoods Properties from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.40.
Shares of Highwoods Properties (NYSE:HIW) opened at 51.21 on Monday. Highwoods Properties has a 52 week low of $45.83 and a 52 week high of $56.23. The firm has a market capitalization of $5.29 billion, a P/E ratio of 40.84 and a beta of 0.88. The stock’s 50 day moving average price is $51.05 and its 200 day moving average price is $50.83.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Texas Permanent School Fund increased its position in shares of Highwoods Properties by 1.2% in the second quarter. Texas Permanent School Fund now owns 74,485 shares of the real estate investment trust’s stock valued at $3,777,000 after buying an additional 877 shares during the period. World Asset Management Inc increased its position in shares of Highwoods Properties by 3.2% in the second quarter. World Asset Management Inc now owns 6,433 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 200 shares during the period. Moody Aldrich Partners LLC increased its position in shares of Highwoods Properties by 37.7% in the second quarter. Moody Aldrich Partners LLC now owns 12,135 shares of the real estate investment trust’s stock valued at $615,000 after buying an additional 3,320 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Highwoods Properties by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 4,503,381 shares of the real estate investment trust’s stock valued at $228,367,000 after buying an additional 230,723 shares during the period. Finally, Rothschild Asset Management Inc. increased its position in shares of Highwoods Properties by 177.1% in the second quarter. Rothschild Asset Management Inc. now owns 971,022 shares of the real estate investment trust’s stock valued at $49,240,000 after buying an additional 620,589 shares during the period. Hedge funds and other institutional investors own 97.90% of the company’s stock.
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 value of $525,100.00. Following the transaction, the chief operating officer now owns 63,194 shares in the company, valued at approximately $3,318,316.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.90% of the company’s stock.
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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