Zacks: Brokerages Expect Highwoods Properties, Inc. (NYSE:HIW) Will Announce Earnings of $0.98 Per Share

Posted by on May 23rd, 2022

Wall Street analysts predict that Highwoods Properties, Inc. (NYSE:HIW – Get Rating) will report earnings per share of $0.98 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Highwoods Properties’ earnings, with the lowest EPS estimate coming in at $0.97 and the highest estimate coming in at $0.99. Highwoods Properties posted earnings per share of $0.93 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The firm is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Highwoods Properties will report full year earnings of $3.90 per share for the current financial year, with EPS estimates ranging from $3.84 to $3.96. For the next financial year, analysts expect that the company will post earnings of $3.95 per share, with EPS estimates ranging from $3.90 to $3.98. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Highwoods Properties.

Highwoods Properties (NYSE:HIW – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Highwoods Properties had a return on equity of 11.99% and a net margin of 37.75%. During the same period in the prior year, the business posted $0.91 EPS.

Several analysts have recently weighed in on the company. Mizuho assumed coverage on Highwoods Properties in a research note on Friday, April 22nd. They set a “neutral” rating and a $46.00 target price for the company. StockNews.com lowered shares of Highwoods Properties from a “buy” rating to a “hold” rating in a report on Saturday, April 16th. TheStreet upgraded Highwoods Properties from a “c+” rating to a “b-” rating in a research note on Tuesday, March 22nd. Finally, Morgan Stanley cut their price objective on Highwoods Properties from $52.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, February 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Highwoods Properties presently has a consensus rating of “Buy” and an average target price of $49.60.

Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in shares of Highwoods Properties by 157.1% during the first quarter. Parallel Advisors LLC now owns 599 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 366 shares during the period. AGF Investments LLC acquired a new stake in Highwoods Properties during the fourth quarter valued at approximately $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Highwoods Properties in the first quarter worth approximately $37,000. FourThought Financial LLC increased its holdings in shares of Highwoods Properties by 361.0% in the third quarter. FourThought Financial LLC now owns 1,254 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 982 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in Highwoods Properties during the 4th quarter worth about $56,000. 98.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of HIW stock traded up $0.07 during trading hours on Friday, reaching $38.19. The company had a trading volume of 791,295 shares, compared to its average volume of 707,986. The stock’s fifty day simple moving average is $42.71 and its 200 day simple moving average is $43.85. Highwoods Properties has a twelve month low of $37.19 and a twelve month high of $48.98. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $4.02 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Investors of record on Monday, May 23rd will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, May 20th. This represents a $2.00 annualized dividend and a yield of 5.24%. Highwoods Properties’s dividend payout ratio (DPR) is 70.67%.

About Highwoods Properties (Get Rating)

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. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

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