Highwoods Properties Inc (HIW) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.82 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.80. The company posted revenue of $166.86 million in the period, compared to analysts expectations of $164.22 million. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.
Many Wall Street Analysts have commented on Highwoods Properties Inc. Highwoods Properties Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on May 12, 2016.
Highwoods Properties Inc opened for trading at $55.01 and hit $56.23 on the upside on Friday, eventually ending the session at $55.72, with a gain of 1.16% or 0.64 points. The heightened volatility saw the trading volume jump to 6,02,183 shares. Company has a market cap of $5,428 M.
In a different news, on Jul 1, 2016, Edward J Fritsch (President & CEO) sold 85,822 shares at $52.29 per share price. According to the SEC, on Jun 30, 2016, Jeffrey Douglas Miller (SVP/General Counsel & Sec.) sold 12,000 shares at $51.60 per share price. On May 27, 2016, Sherry A Kellett (director) sold 7,600 shares at $47.32 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.