Highwoods Properties Inc (NYSE:HIW) – Investment analysts at Jefferies Group cut their FY2018 earnings per share (EPS) estimates for shares of Highwoods Properties in a research note issued on Tuesday. Jefferies Group analyst J. Petersen now anticipates that the real estate investment trust will post earnings of $3.45 per share for the year, down from their previous estimate of $3.47. Jefferies Group also issued estimates for Highwoods Properties’ FY2019 earnings at $3.62 EPS.
Other equities analysts have also issued reports about the company. SunTrust Banks set a $52.00 target price on Highwoods Properties and gave the stock a “hold” rating in a research report on Tuesday, October 24th. ValuEngine upgraded Highwoods Properties from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Edward Jones cut Highwoods Properties from a “buy” rating to a “hold” rating in a report on Monday, November 6th. Finally, Bank of America lifted their price objective on Highwoods Properties from $57.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Highwoods Properties currently has a consensus rating of “Hold” and an average price target of $54.80.
Highwoods Properties (NYSE:HIW) last posted its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.54. The company had revenue of $180.19 million during the quarter, compared to analyst estimates of $177.15 million. Highwoods Properties had a return on equity of 7.09% and a net margin of 22.02%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 EPS.
In other news, Director Sherry A. Kellett sold 2,000 shares of Highwoods Properties 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 transaction, the director now owns 13,744 shares in the company, valued at approximately $695,996.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sherry A. Kellett sold 1,000 shares of Highwoods Properties 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 transaction, the director now owns 11,744 shares in the company, valued at approximately $607,164.80. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HIW. Schwab Charles Investment Management Inc. lifted its stake in Highwoods Properties by 5.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,083,372 shares of the real estate investment trust’s stock valued at $55,155,000 after acquiring an additional 52,988 shares in the last quarter. Bank of Montreal Can lifted its stake in Highwoods Properties by 1.2% in the 4th quarter. Bank of Montreal Can now owns 784,753 shares of the real estate investment trust’s stock valued at $39,951,000 after acquiring an additional 9,120 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Highwoods Properties by 6.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 52,200 shares of the real estate investment trust’s stock valued at $2,658,000 after acquiring an additional 3,000 shares in the last quarter. Aurora Investment Counsel bought a new stake in Highwoods Properties in the 4th quarter valued at approximately $2,069,000. Finally, Public Employees Retirement System of Ohio lifted its stake in Highwoods Properties by 1.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 162,667 shares of the real estate investment trust’s stock valued at $8,473,000 after acquiring an additional 2,709 shares in the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.
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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.
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