The REIT sector ( XLRE ), particularly office REITs have seen suppressed valuations for the last couple of years as high interest rates have plagued the sector.Contributing 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 enjoys dividend inves ...

Core Viewpoint - Highwoods Properties, Inc. is set to release its third quarter 2024 results on October 22nd, followed by a conference call on October 23rd at 11:00 A.M. Eastern time [1]. Company Overview - Highwoods Properties, Inc. is a publicly-traded, fully-integrated office 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 [3]. - The company emphasizes creating environments that foster collaboration and innovation, aiming to deliver greater value to customers and stakeholders [3]. Conference Call Details - For US/Canada callers, the conference call can be accessed by dialing (833) 470-1428 with access code 628980, while international callers should use (404) 975-4839 with the same passcode [2]. - A live webcast of the call will be available on the company's website, and a replay will also be accessible post-call [2].

Core Insights - Highwoods Properties, Inc. has reported that its properties in Florida, Georgia, North Carolina, and Tennessee have not sustained any notable damage following a thorough assessment [1] - The President and CEO, Ted Klinck, expressed gratitude for the safety of all employees and commended the team's preparation for the hurricane [2] Company Overview - Highwoods Properties, Inc. is a publicly-traded real estate investment trust (REIT) that focuses 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 [2] - The company emphasizes its role in creating work environments that foster collaboration and innovation among its tenants, thereby delivering greater value to customers and stakeholders [2]

Highwoods Properties (HIW) is well-poised to capitalize on tenants' growing preference for premium office spaces with class-apart amenities. An aggressive capital-recycling program bodes well. However, competition from other industry players is likely to limit its pricing power and hurt profitability. In September 2024, Highwoods announced that the company has signed 738,000 square feet of secondgeneration leases since July 1, 2024, including new leases spanning more than 400,000 square feet. Shares of HIW ...

2nd Gen Leasing Activity Continues to be Strong 738,000 SF of Leases Signed to Date in Third Quarter Includes over 400,000 SF of New Leases RALEIGH, N.C., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) announced it has signed 738,000 square feet of second generation leases since July 1, 2024, including over 400,000 square feet of new leases. Included in the quarterly activity is a long-term lease for 104,000 square feet at Two Alliance Center in Atlanta's Buckhead BBD with a new cu ...

Shares of Highwoods Properties (HIW) have rallied 31.9% year to date, outperforming the industry's growth of 2.3%. This office real estate investment trust (REIT) is well-positioned to benefit from the growing demand for its premier office properties concentrated in high-growth Sun Belt markets. Its disciplined capital-recycling program and accretive development projects are other tailwinds. A healthy balance sheet position augurs well for long-term growth. Later in July 2024, HIW reported second-quarter 20 ...

Core Viewpoint - Highwoods Properties Inc. (HIW) reported a strong second quarter in 2024, with an increase in funds from operations (FFO) per share and an optimistic outlook for the remainder of the year, despite some challenges in rental revenues and rising interest expenses [19][10][6]. Financial Performance - HIW's FFO per share for the second quarter of 2024 was 98 cents, exceeding the Zacks Consensus Estimate of 90 cents and up from 94 cents in the prior year [19]. - The company raised its 2024 FFO per share guidance to a range of $3.54-$3.62, compared to the previous range of $3.46-$3.61 [10]. - Same-property cash net operating income (NOI) increased by 3.3% year-over-year to $140.8 million [7]. Leasing Activity - The development pipeline totals $506 million at HIW's share, with 45% pre-leased [1]. - During the second quarter, HIW signed 61,000 square feet of first-generation leases and completed 909,000 square feet of second-generation leasing activity, including 352,000 square feet of new leases [1][15]. - The average in-place cash rent increased by 4.8% per square foot compared to the prior year [7]. Balance Sheet and Expenses - HIW's rental property and other expenses were $64.6 million, down 2.6% year-over-year, while interest expenses rose to $35.9 million, an increase of 5.4% [8]. - The company ended the second quarter with $27 million in cash and cash equivalents, up from $16.4 million at the end of the first quarter [9]. - The net debt-to-adjusted EBITDAre ratio improved to 5.8 from 6.09 at the end of the first quarter [17]. Market Outlook - The average occupancy rate is expected to remain stable between 87% and 89% [3]. - HIW's balance sheet is described as being in excellent shape, with low leverage and no debt maturities until mid-2026, positioning the company for future growth opportunities [7].

The reported revenue represents a surprise of -1.96% over the Zacks Consensus Estimate of $208.83 million. With the consensus EPS estimate being $0.90, the EPS surprise was +8.89%. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Occupancy: 88.5% versus 88.5% estimated by two analysts on average. Rental and other revenues- Lease termi ...

Core Viewpoint - Highwoods Properties reported a quarterly FFO of $0.98 per share, exceeding the Zacks Consensus Estimate of $0.90 per share, indicating a positive performance trend in the real estate investment trust sector [7]. Financial Performance - Highwoods Properties generated revenues of $204.74 million for the quarter ended June 2024, which was 1.96% below the Zacks Consensus Estimate and a decrease from $207.29 million in the same quarter last year [2]. - The company has surpassed consensus revenue estimates twice in the last four quarters [2][8]. - The current consensus FFO estimate for the upcoming quarter is $0.90 on revenues of $207.78 million, and for the current fiscal year, it is $3.56 on revenues of $836.97 million [5]. Stock Performance - Highwoods Properties shares have increased approximately 22.6% since the beginning of the year, outperforming the S&P 500's gain of 16.7% [3]. - The stock currently holds a Zacks Rank of 3 (Hold), suggesting it is expected to perform in line with the market in the near future [11]. Industry Context - The REIT and Equity Trust - Other industry is currently ranked in the top 39% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [12]. - The performance of Highwoods Properties may be influenced by the overall industry outlook, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [12].

Company Overview - Highwoods Properties, Inc. is a publicly-traded real estate investment trust (REIT) listed on NYSE under the ticker HIW [2] - The company is headquartered in Raleigh and focuses on owning, developing, acquiring, leasing, and managing properties primarily in the best business districts (BBDs) of major cities including Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa [2] Business Strategy - Highwoods is engaged in the work-placemaking business, aiming to create environments and experiences that enable collaboration among the best talent [2] - The company believes that fostering such environments can deliver greater value to customers, their teams, and stakeholders [2] Financial Results - Highwoods Properties has released its second quarter 2024 results, which can be accessed through the investors section of their website [1]