Workforce and Employee Demographics - The total cost of the workforce in 2024 was approximately $61 million, with an average annual turnover rate of 14%[41] - Approximately 71% of employees work in division offices, primarily involved in property management and maintenance[41] - The average tenure of employees was ten years, with an average age of 49 years[40] - The average annual turnover rate for the company was 16%, significantly lower than the national industry average of 25%[40] - As of December 31, 2024, 37% of the company's employees were female and 29% were persons of color[54] - In 2024, 57% of new hires were female and 39% were persons of color[54] - About 33% of employees are highly specialized trade professionals, with an average age of 52 years, indicating a potential future shortage of skilled workers[42] Employee Compensation and Benefits - Nearly 50% of employees are eligible for an annual bonus ranging from 5% to 20% of their base salary[45] - Approximately 8% of employees are eligible for long-term equity incentive compensation, providing them with a stake in the company's success[46] - Over 94% of employees participate in the 401(k) retirement savings plan, which includes a competitive match on contributions[47] - The company has established a development cash incentive plan, with payouts generally ranging from $1,000 to $10,000 based on project performance[48] Company Strategy and Operations - The company aims to generate attractive and sustainable returns by developing and owning high-quality office buildings in best business districts (BBDs)[31] - The company focuses on owning and managing properties in dynamic and vibrant BBDs to enhance customer talent attraction and retention[30] - The company maintains a conservative and flexible balance sheet with access to ample liquidity and multiple sources of capital[33] - The company has established a corporate resiliency team to refine its long-term resiliency strategy and track progress towards sustainability goals[35] Diversity and Inclusion Initiatives - The company has a diversity and inclusion program called "Heart of Highwoods" aimed at creating opportunities for all in the commercial real estate industry[55] - The diversity and inclusion program, "Heart of Highwoods," aims to create opportunities for all individuals in the commercial real estate industry[55] Health and Safety Programs - The company has a robust health and safety program to mitigate workplace risks and promote employee well-being[51] - The company has a robust health and safety program, including training on OSHA compliance and emergency response procedures[51] Partnerships and Community Engagement - The company has partnered with local trade schools to implement an apprenticeship program to address the expected shortage of skilled trade professionals[43] - The company has implemented an apprenticeship program in partnership with local trade schools to address the shortage of skilled trade professionals[43] Revenue Sources - As of December 31, 2024, Bank of America and Asurion accounted for 3.8% and 3.5% of the company's annualized GAAP revenues, respectively[50]

Core Insights - Highwoods Properties, Inc. has announced significant investment and financing transactions that were completed in Q4 2024 and early 2025 [1] Group 1: Asset Dispositions - The company sold non-core buildings in Raleigh and Tampa for total gross proceeds of $166.4 million, with $21.4 million from Q4 2024 and the remainder in early 2025 [2] - The sold properties include one office building of 170,000 square feet in North Raleigh and three buildings totaling 616,000 square feet in Tampa, which are 88% occupied and expected to generate $13.6 million in GAAP net operating income and $13.0 million in cash net operating income in 2025 [2] Group 2: Land Acquisition - In Q4 2024, the company acquired the fee simple title to the land beneath its Century Center assets for $50.6 million, consolidating ownership of the buildings and land for long-term flexibility [3] Group 3: Equity Raise - The company sold 1.59 million shares of common stock at an average gross sales price of $32.71 per share, raising net proceeds of $51.3 million [4] Group 4: Management Commentary - The President and CEO highlighted that the recent asset sales reflect the company's strategy of divesting non-core assets to reinvest in higher-quality buildings, with nearly $220 million in proceeds enhancing the balance sheet and providing capital for future growth opportunities in 2025 [5]

Core Viewpoint - Highwoods Properties, Inc. is set to release its fourth quarter 2024 results on February 11, 2025, with a conference call scheduled for February 12, 2025, at 11:00 A.M. Eastern time [2]. Company Overview - Highwoods Properties, Inc. is a publicly-traded real estate investment trust (REIT) headquartered in Raleigh, focusing on owning, developing, acquiring, leasing, and managing properties in major business districts across several cities including Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa [4]. - The company emphasizes creating environments that foster collaboration and innovation, aiming to deliver greater value to customers and stakeholders [4]. Conference Call Details - The conference call for the fourth quarter results can be accessed by US/Canada callers at (833) 470-1428 with access code 441734, and international callers can dial (404) 975-4839 using the same passcode [3]. - A live webcast of the call will be available on the company's website, along with a replay after the event [3].

Highwoods Properties (HIW) is well-poised to benefit from the rising demand for its highly amenitized office properties, aggressive capital-recycling initiatives and solid balance sheet strength.Analysts seem positive about this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for HIW’s 2024 funds from operations (FFO) per share has moved marginally northward over the past month to $3.62.Shares of this office-based real estate investment trust (REIT) company have gained 22% in the past six months c ...

Heading into 2025, the U.S. real estate market is poised for a transformative period of growth and change. Supported by a resilient economy, easing financial conditions and advancements in technology, new opportunities are anticipated across various real estate sectors.This draws our attention to REITs that cater to different asset categories, like Alpine Income Property Trust, Inc. (PINE) , Regency Centers Corporation (REG) , SL Green Realty Corp. (SLG) and Highwoods Properties, Inc. (HIW) .Why 2025 Will b ...

Highwoods Properties (HIW) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a cha ...

Highwoods Properties (NYSE: HIW ) may not offer a lot of dividend growth, but the REIT is the type of steady-eddy stock income investors may consider attractive as a result of theirContributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone to do their own due diligence. I'm a Navy veteran who ...

Core Insights - Highwoods Properties (HIW) shares have increased by 37.9% year to date, significantly outperforming the industry growth of 3.1% [1] - The company reported third-quarter 2024 funds from operations (FFO) per share of 90 cents, exceeding the Zacks Consensus Estimate of 88 cents but lower than the previous year's 93 cents [1][2] Financial Performance - The quarterly results showed strong leasing activity and rent growth, driven by rising demand for premium office spaces, although higher interest expenses had a negative impact [2] - The Zacks Consensus Estimate for HIW's 2024 FFO per share has been revised slightly upward to $3.61 over the past month [2] Market Position and Demand - Highwoods' portfolio is concentrated in high-growth Sun Belt markets, which are expected to experience above-average job growth, supporting long-term rent growth [3] - The average in-place cash rent grew by 3.9% per square foot year over year during the third quarter of 2024 [3] Leasing Activity - The company signed 906,000 square feet of second-generation leases in the third quarter, including 530,000 square feet of new leases [4] - Highwoods also signed 61,000 square feet of first-generation leases during the same period [4] Future Outlook - Future demand for office space is anticipated to be driven by inbound migration and significant investments from office occupiers in the Sun Belt regions [5] - The company has a diversified tenant base and is witnessing an increasing number of tenants returning to offices, which is expected to support market fundamentals [5] Capital Strategy - Highwoods follows a disciplined capital-recycling strategy, disposing of non-core assets and reinvesting in premium acquisitions and development projects [6] - The company completed dispositions worth $84 million from the beginning of the year through September 30, 2024, with an additional $150 million expected in 2024 [6] Financial Health - The company maintains a healthy balance sheet with no consolidated debt maturities until the second quarter of 2026, holding approximately $23.7 million in cash and $644.9 million in unused capacity under its revolving credit facility as of September 30, 2024 [7] - Highwoods generated 83.3% unencumbered net operating income (NOI) at the company's share, with investment-grade ratings from S&P and Moody's allowing access to favorable debt market rates [8]

Highwoods Properties Inc. (HIW) reported third-quarter 2024 funds from operations (FFO) per share of 90 cents, which beat the Zacks Consensus Estimate of 88 cents. However, the figure was lower than the prior-year quarter’s 93 cents.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Quarterly results reflect healthy leasing activity with rent growth amid rising demand for highly amenitized premium office spaces. However, higher interest expenses undermine the results to an extent. HIW ...

For the quarter ended September 2024, Highwoods Properties (HIW) reported revenue of $204.32 million, down 1.3% over the same period last year. EPS came in at $0.90, compared to $0.21 in the year-ago quarter.The reported revenue represents a surprise of -0.49% over the Zacks Consensus Estimate of $205.32 million. With the consensus EPS estimate being $0.88, the EPS surprise was +2.27%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to ...