Latest news with #HighwoodsProperties
Business Insider
6 days ago
- Business
- Business Insider
Wells Fargo Sticks to Their Hold Rating for Highwoods Properties (HIW)
Wells Fargo analyst Blaine Heck maintained a Hold rating on Highwoods Properties on August 7 and set a price target of $36.00. The company's shares closed last Friday at $28.69. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Heck covers the Real Estate sector, focusing on stocks such as Rexford Industrial Realty, Eastgroup Properties, and Highwoods Properties. According to TipRanks, Heck has an average return of -1.0% and a 45.92% success rate on recommended stocks. In addition to Wells Fargo, Highwoods Properties also received a Hold from Truist Financial's Michael Lewis in a report issued on July 30. However, on August 1, TR | OpenAI – 4o upgraded Highwoods Properties (NYSE: HIW) to a Buy. The company has a one-year high of $36.78 and a one-year low of $24.19. Currently, Highwoods Properties has an average volume of 968.1K.
Yahoo
03-06-2025
- Business
- Yahoo
Highwoods Provides Quarter-to-Date Second Generation Leasing Update
Highwoods Properties, Inc. HIW announced that it has signed more than 750,000 square feet of second-generation leases from the beginning of the second quarter through June 2, 2025. These includes more than 300,000 square feet of new leases. Per Ted Klinck, president & CEO of HIW, 'New users and existing customers continue to value our commute-worthy portfolio in BBD locations. The healthy volume of leases executed in the first five months of the year and pipeline of future prospects positions us to grow occupancy late in 2025 and thereafter.' Highwoods is seeing a recovery in demand for its high-quality, well-placed office properties as highlighted by a rebound in new leasing volume. With an increasing number of organizations emphasizing return-to-office mandates, the demand for high-quality office spaces is picking up, propelling leasing activity. During the first quarter of 2025, the company signed approximately 691,000 square feet of second-generation leases. This includes new leases spanning nearly 244,000 square feet. Highwoods' well-diversified tenant base, efforts to expand in the high-growth markets and balance sheet strength are its key growth drivers. However, competition from other players is likely to limit its pricing power and hurt profitability. High interest expenses add to its woes. Over the past three months, shares of this Zacks Rank #3 (Hold) company have gained 8.4% against the industry's decline of 1.3%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader REIT sector are VICI Properties VICI and W.P. Carey WPC, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for VICI's 2025 FFO per share has moved one cent northward to $2.34 over the past two months. The consensus estimate for WPC's 2025 FFO per share has been revised upward by 1% to $4.88 over the past month. Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Highwoods Properties, Inc. (HIW) : Free Stock Analysis Report W.P. Carey Inc. (WPC) : Free Stock Analysis Report VICI Properties Inc. (VICI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Journals
22-04-2025
- Business
- Business Journals
Highwoods lists downtown Raleigh parking lot for sale
By submitting your information you are agreeing to our Privacy Policy and User Agreement . Join the Triangle Business Journal to unlock even more insights! Highwoods Properties is looking to cash in on a prime piece of Downtown Raleigh real estate. Story Highlights Highwoods Properties lists Downtown Raleigh parking lot for sale. Property valued at $11.33 million, zoned for 40-story mixed-use development. Highwoods sees potential for residential building amid changing market conditions. Highwoods Properties has put one of its Downtown Raleigh properties up for sale in light of the shifting real estate market. Highwoods (NYSE: HIW) is listing its surface parking lot at 301 S. Wilmington St. across from the PNC Plaza building. There is no listing price, but Skip Hill, senior vice president and Raleigh market leader for Highwoods, said the commercial real estate firm is hoping to get "eight figures" for it. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events Highwoods acquired the property in 2017 for $1.88 million from Charlotte-based Beacon Properties. The lot is now assessed for $11.33 million. The 0.68-acre parking lot is profitable, bringing in a net operating income of $367,045 in 2024, according to the listing for the property. Foundry Commercial is the listing broker firm for Highwoods. Despite its profitability, Hill said the company thinks it's a prime spot for a residential building, especially since city officials are pushing for more residential units downtown. The company's plan was to develop the lot into an office building, but that was before the pandemic. Now, the downtown area has an abundance of available office space. The property is zoned for up to 40 stories of mixed-use development. Hill said it would be a great location for a high-rise residential building. The lot has 56 parking spaces and offers both daily and monthly rental options. Daily is $5 an hour while monthly is $140. Ten percent of the revenue comes from monthly subscriptions. The parking lot joins a handful of downtown properties on the market. Three parcels at the corner of North Harrington and West Lane streets are up for sale for $15 million while four parcels that would have been the next tower in Bloc83 are also on the market. And after a roller coaster of a process for the original Char-Grill property on Hillsborough Street, the site is back on the market.
Yahoo
01-04-2025
- Business
- Yahoo
MidPoint affiliate acquires Penn Avenue site in East Liberty for 43-unit affordable senior complex
A gateway corner of the East Liberty business district has a new owner with early plans for a new affordable housing development. Real estate records reveal that North Carolina-based Highwoods Properties has sold the open lot at 6135 to 6145 Penn Ave., a plot for which the neighborhood commercial buildings were razed years ago to make way for a new office and retail development that lately has been used for little more than some remaining and temporary Black Lives Matter memorials. The buyer is Royal Lofts Pittsburgh LLC, which is an affiliate of MidPoint Group of Companies, Inc., which specializes in affordable housing development and is currently building the $65 million City's Edge mixed-use project near PPG Paints Arena in Uptown. Nate Boe, principal of MidPoint, confirmed the land buy. Click here to read more from our partners at the Pittsburgh Business Times. Download the FREE WPXI News app for breaking news alerts. Follow Channel 11 News on Facebook and Twitter. | Watch WPXI NOW
