Highwoods ( (HIW) ) has released its Q4 earnings. Here is a breakdown of the information Highwoods presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Highwoods Properties, Inc. is a real estate investment trust (REIT) based in Raleigh, specializing in owning, developing, acquiring, leasing, and managing office properties in major business districts across the Sun Belt region of the United States.
Highwoods reported a net loss of $0.03 per share for the fourth quarter of 2024, yet achieved a funds from operations (FFO) of $0.85 per share. For the full year, the company reported net income of $0.94 per share and FFO of $3.61 per share. The company also highlighted its robust leasing activity, boasting a record-setting volume of second-generation leases for the year.
Key financial metrics for the fourth quarter included a net loss attributable to a non-cash impairment charge on a property in Pittsburgh, while FFO saw a slight decline compared to the same period in 2023. The company executed $166 million in property sales, streamlining its portfolio by shedding non-core properties and focusing on core assets. Highwoods also completed significant leasing transactions, including 1.3 million square feet of second-generation leases and a noteworthy development pipeline worth $514 million.
Looking ahead, Highwoods has projected its 2025 FFO to range between $3.26 and $3.44 per share. The company is optimistic about its growth potential, driven by high occupancy targets, a robust development pipeline, and strategic investment opportunities. Management anticipates that these efforts will enhance portfolio quality and strengthen cash flows moving forward.
