Highwoods Properties Inc (HIW) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 12, 2016.
Many Wall Street Analysts have commented on Highwoods Properties Inc. Highwoods Properties Inc was Downgraded by Jefferies to ” Hold” on Apr 22, 2016. Highwoods Properties Inc was Downgraded by Sun Trust Rbsn Humphrey to ” Neutral” on Mar 17, 2016.
On the company’s financial health, Highwoods Properties Inc reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.79. The company had revenue of $164.90 million for the quarter, compared to analysts expectations of $165.74 million. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.
Highwoods Properties Inc closed down -0.16 points or -0.33% at $48.69 with 3,29,303 shares getting traded on Tuesday. Post opening the session at $49.04, the shares hit an intraday low of $48.49 and an intraday high of $49.04 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
In a different news, on May 11, 2016, Mark F Mulhern (SVP/CFO) sold 12,124 shares at $48.75 per share price. According to the SEC, on May 11, 2016, Theodore J Klinck (EVP/COO & Investment Officer) sold 12,397 shares at $48.86 per share price. On Mar 21, 2016, Edward J Fritsch (President & CEO) sold 29,323 shares at $47.10 per share price, according to the Form-4 filing with the securities and exchange commission.
Highwoods Properties Inc. is a real estate investment trust. The Company is engaged in the business of operation acquisition and development of real estate properties. It provides leasing management development construction and other customer-related services for its properties and for third parties. The Company operates office industrial retail and residential properties. The Company conducts its activities through Highwoods Realty Limited Partnership. The Company’s portfolio consists of office properties in Raleigh Atlanta Tampa Nashville Memphis Pittsburgh Richmond and Orlando; office and industrial properties in Greensboro and retail and office properties in Kansas City. The Company holds an interest of approximately 31.2 million rentable square feet of in-service properties 1.7 million rentable square feet of properties under development and approximately 500 acres of development land.