Jefferies Maintains a 'Buy' on Highwoods Properties Inc. (HIW); Q4 Review: Developments and Acquisitions Drive Earnings Growth

Jefferies maintains a 'Buy' on Highwoods Properties Inc. (NYSE: HIW) price target raised $1 to $35.

Analyst, Omotayo Okusanya, said, "Highwoods posted another FFO beat in 4Q11, and issued 2012 FFO per share guidance that was essentially in line with our estimate. Fundamentals are improving in HIW's markets, but meaningful growth will likely come from acquisitions and developments."

"We are maintaining our 2012 FFO per share estimate slightly of $2.70, which reflects 1) $100M of acquisitions in 2012 and 2) our view that leasing will exceed expectations at the recently acquired PPG Place in Pittsburgh, PA. We are introducing our 2013 FFO per share of $2.75 versus consensus of $2.69."

For an analyst ratings summary and ratings history on Highwoods Properties Inc. click here. For more ratings news on Highwoods Properties Inc. click here.

Shares of Highwoods Properties Inc. closed at $31.38 yesterday.

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