Highwoods Properties, Inc. Q2 2025 Earnings Recap

Highwoods Properties delivered strong Q2 2025 results with $0.89 per share in FFO, driven by robust leasing activity and an optimistic outlook for occupancy and NOI growth.

Key Takeaways

• Achieved 923,000 square feet of leasing volume in Q2, including 371,000 square feet of new leases, supporting future occupancy gains.
• Increased the midpoint of 2025 FFO outlook by $0.02, now ranging between $3.37 to $3.45 per share, reflecting confidence in financial performance.
• 50% of the projected $25 million annual NOI upside from core assets is now secured with signed leases, with strong prospects for additional growth.
• Development pipeline shows over $10 million of potential NOI growth at GlenLake III and Granite Park Six, indicating strong future revenue opportunities.
• Positioned well for capital deployment opportunities, with a focus on rotating out of lower-growth properties into high-quality, capital-efficient assets.