|Over a week ago|
Highwoods Properties sees FY20 FFO $3.59-$3.68, consensus $3.58 » 17:1507/2807/28/20
Guidance excludes potential lost rental revenues and non-cash straight line rent credit losses due to COVID-19 Impact.
Highwoods Properties reports Q2 FFO 93c, consensus 89c » 17:1307/2807/28/20
Reports Q2 revenue…
Reports Q2 revenue $183.15M, consensus $184.98M.
|Over a month ago|
Highwoods Properties reports 99% of rent collected in June » 18:0607/0107/01/20
Highwoods Properties provided a business update. The company has signed a 138,000 square foot, long-term, full-building renewal with the Federal Bureau of Investigation in Tampa. chis was the Company's largest lease expiration remaining in 2020. Highwoods developed the FBI's Tampa Field Office as a build-to-suit in 2005. After collecting 99% of its contractually required rents for the months of April and May, the company has collected 99% of its contractually required rents for the month of June. The company further reported that all buildings and parking facilities have remained open for business. The company has sold Centrum and Colonnade, two office buildings in Memphis that encompass a total of 169,000 square feet, for $23.3M. These office properties are a combined 89% occupied and are projected to generate approximately $1.4M of cash net operating income and $1.7 million of GAAP net operating income in 2020. The company expects to record non-FFO gains of approximately $9.6 million in the third quarter of 2020 in connection with these sales.
Fly Intel: Top five analyst upgrades » 09:5906/2506/25/20
DD, AMP, HIW, FTV, ALL
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. DuPont (DD) upgraded to Outperform from Sector Perform at RBC Capital with analyst Arun Viswanathan citing the company's improving fundamentals from cost reduction measures and greater exposure to "early recovery" markets - auto, construction, and industrial - along with the diminished uncertainty about its PFAS water contamination liability. 2. Ameriprise (AMP) upgraded to Buy from Neutral at Goldman Sachs with analyst Alexander Blostein saying the stock's current multiple fails to reflect improving organic growth trends at both the company's Advice and Wealth Management and Asset Management as well as its "increasingly differentiated" capital return outlook relative to other large cap financials. 3. Highwoods Properties (HIW) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Vikram Malhotra saying he is upgrading the stock as a relative defensive call given its 95% exposure to the Sunbelt, with ongoing benefits of population migration. 4. Fortive (FTV) upgraded to Outperform from Neutral at Baird. 5. Allstate (ALL) upgraded to Neutral from Underperform at Credit Suisse with analyst Michael Zaremski saying he believes execution risk related to the company's transformation initiatives is more manageable during the current pandemic. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Highwoods Properties upgraded to Overweight from Equal Weight at Morgan Stanley » 19:0806/2406/24/20
Morgan Stanley analyst…
Morgan Stanley analyst Vikram Malhotra upgraded Highwoods Properties to Overweight from Equal Weight with a price target of $44, up from $40. Malhotra said he is upgrading the stock as a relative defensive call given its 95% exposure to the Sunbelt, with ongoing benefits of population migration. The analyst said he also likes the company's highly leased development pipeline, fairly modest lease expiration, and well covered dividend/strong balance sheet.
Highwoods collects 99% of contractually required rents for May » 16:1006/0106/01/20
Highwoods Properties provided an update on the financial impact of the COVID-19 pandemic. After collecting 99% of its contractually required rents for the month of April, the company has collected 99% of its contractually required rents for the month of May. To date, the company has agreed to grant temporary rent deferrals that represent 1.2% of its annualized rental revenues, including the deferrals disclosed in its Q1 earnings release on April 28. The company is not currently aware of any customer-specific facts or circumstances that indicate a likelihood of any material losses at this point during Q2. The company further reported that all buildings and parking facilities have remained open for business.
|Over a quarter ago|
Berkshires' Buffett ponders workers return to offices, WSJ says » 13:1305/0405/04/20
HPP, SLG, BXP, HIW, CLI, BRK.A, BRK.B
Berkshire Hathaway's (BRK.A, BRK.B) legendary leader Warren Buffett, said over the weekend,with so many people working remotely for health reasons, that the impact of the coronavirus may impact the way workers due their jobs, reports Chip Cutter of the Wall Street Journal. "The supply and demand for office space may change significantly. A lot of people have learned that they can work at home, or that there's other methods of conducting their business than they might have thought from what they were doing a couple of years ago. When change happens in the world, you adjust to it," said Warren Buffett. Publicly traded companies this information may relate to include, Boston Properties (BXP), SL Green (SLG) Hudson Pacific (HPP) Highwoods Properties (HIW), and Mack-Cali Realty (CLI). Reference Link
Highwoods Properties upgraded to Buy from Neutral at Mizuho » 06:4604/2804/28/20
Mizuho analyst Omotayo…
Mizuho analyst Omotayo Okusanya upgraded Highwoods Properties to Buy from Neutral with a price target of $45, down from $51. The analyst sees the company as a "solid growth at a reasonable price play" and estimates Highwoods has the least exposure to "non-core" income in the office real estate investment trust space.
Highwoods Properties upgraded to Buy from Neutral at Mizuho » 06:2304/2804/28/20
Mizuho analyst Omotayo…
Mizuho analyst Omotayo Okusanya upgraded Highwoods Properties to Buy from Neutral.
Highwoods Properties upgraded to Outperform at Baird » 08:5104/0604/06/20
As reported previously,…
As reported previously, Baird analyst Dave Rogers upgraded Highwoods Properties to Outperform from Neutral with a price target of $40, down from $53. He views the company as a top -quality management team across diversified metro areas that offers investors solid relative cash flow stability at a discount to his estimate of combined land value and hard costs related to restructuring its portfolio.