Highwoods Properties (NYSE: HIW) reported Q4 EPS of ($0.03), $0.18 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $205.53 million versus the consensus estimate of $204.24 million.

OUTLOOK

2025 Outlook
For 2025, the Company expects FFO per share to be in the range of $3.26 to $3.44. This outlook reflects management’s view of current and future market conditions, including assumptions such as rental rates, occupancy levels, operating and general and administrative expenses, weighted average diluted shares outstanding and interest rates. The Company’s 2025 FFO outlook does not include any effects related to potential dispositions and acquisitions that occur after the date of this release. Factors that could cause actual results to differ materially from Highwoods current expectations are discussed below and are also detailed in the Company’s 2024 Annual Report on Form 10-K and subsequent SEC reports.
Management’s outlook for 2025 includes the impact of the sale of $166.4 million of non-core assets in November 2024 and February 2025, the acquisition of fee simple title to the land underneath the Company’s Century Center assets for $50.6 million in the fourth quarter of 2024 and the sale of 1.59 million shares of common stock at an average gross sales price of $32.71 per share for net proceeds of $51.3 million in the fourth quarter of 2024. On a combined basis, these activities are projected to reduce 2025 FFO by approximately $0.10 per share. The 2025 outlook does not assume reinvestment of the dry powder created by these activities.

For earnings history and earnings-related data on Highwoods Properties (HIW) click here.