Highwoods Properties, Inc. reported Funds From Operations (FFO) of $0.85 per share for the fourth quarter of 2024, meeting the average estimate of analysts. The company's net income for the quarter was $39.335 million.
For the full year 2024, Highwoods reported net income of $107.452 million. The company's portfolio occupancy stood at 89.9% leased as of December 31, 2024, reflecting its focus on Best Business Districts (BBDs) in the Sunbelt region.
The development pipeline, comprising 1.6 million square feet, was 49% leased at the end of 2024. This pipeline is expected to be a significant driver of future cash flow growth as projects deliver and stabilize.
The company's strategic focus on high-quality office properties in Sunbelt markets, where it derives 95% of its net operating income, continues to shape its performance. The average year built for its portfolio is 2003, with a weighted average lease term of 5.7 years.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.