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Highwoods (HIW) to Develop Mars Petcare's U.S. Headquarters
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Highwoods Properties, Inc. (HIW - Free Report) , the Raleigh, NC-based real estate investment trust (“REIT”) has made the announcement that it has been selected by Mars Petcare for developing the latter’s U.S. headquarters at Ovation in the Cool Springs district of Franklin, TN. It is one of Nashville’s BBDs (Best Business Districts). It is a good opportunity for Highwoods to work with one of the world’s leading pet care providers. Notably, the REIT is the largest landlord/office developer in the greater Nashville area. Also, the addition of the Mars Petcare project has raised the development pipeline of Highwoods to 2.1 million square feet, representing an investment of around $645 million that is 81% pre-leased on a dollar-weighted basis.
Highwoods owns, manages, leases and develops office, industrial and retail properties. The REIT will develop two connected office buildings, comprising an area of 224,000 square feet. The estimated investment amount for this project is likely to be $96 million. Construction for this project is slated to start in the third-quarter 2017 and is likely to be completed in the second-quarter 2019.
Ovation will be a mixed-use development project, covering an area of 145 acres. Highwoods is the owner of the office part of Ovation, whereas Thomas Land & Development is responsible for developing the non-office part of Ovation.
Currently, Highwoods carries a Zacks Rank #4 (Sell).
The shares of Highwoods outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past one year. During that time frame, the shares of the company increased 21.7%, whereas the industry gained 16.6%.
Over the past 30 days, Ashford Hospitality Prime’s funds from operations (FFO) per share for first-quarter 2017 moved up 10.8% to 41 cents.
Over the past 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 moved up 5% to $1.06.
Hudson Pacific Properties’ first-quarter 2017 FFO per share estimates remained unchanged at 48 cents, over the past 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Highwoods (HIW) to Develop Mars Petcare's U.S. Headquarters
Highwoods Properties, Inc. (HIW - Free Report) , the Raleigh, NC-based real estate investment trust (“REIT”) has made the announcement that it has been selected by Mars Petcare for developing the latter’s U.S. headquarters at Ovation in the Cool Springs district of Franklin, TN. It is one of Nashville’s BBDs (Best Business Districts). It is a good opportunity for Highwoods to work with one of the world’s leading pet care providers. Notably, the REIT is the largest landlord/office developer in the greater Nashville area. Also, the addition of the Mars Petcare project has raised the development pipeline of Highwoods to 2.1 million square feet, representing an investment of around $645 million that is 81% pre-leased on a dollar-weighted basis.
Investors interested in the REIT and Equity Trust – Other industry may consider stocks like Ashford Hospitality Prime, Inc. , CoreSite Realty Corporation (COR - Free Report) and Hudson Pacific Properties, Inc. (HPP - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Highwoods owns, manages, leases and develops office, industrial and retail properties. The REIT will develop two connected office buildings, comprising an area of 224,000 square feet. The estimated investment amount for this project is likely to be $96 million. Construction for this project is slated to start in the third-quarter 2017 and is likely to be completed in the second-quarter 2019.
Ovation will be a mixed-use development project, covering an area of 145 acres. Highwoods is the owner of the office part of Ovation, whereas Thomas Land & Development is responsible for developing the non-office part of Ovation.
Currently, Highwoods carries a Zacks Rank #4 (Sell).
The shares of Highwoods outperformed the Zacks categorized REIT and Equity Trust – Other industry over the past one year. During that time frame, the shares of the company increased 21.7%, whereas the industry gained 16.6%.
Over the past 30 days, Ashford Hospitality Prime’s funds from operations (FFO) per share for first-quarter 2017 moved up 10.8% to 41 cents.
Over the past 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 moved up 5% to $1.06.
Hudson Pacific Properties’ first-quarter 2017 FFO per share estimates remained unchanged at 48 cents, over the past 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Everything You Need to Know About Snapchat BEFORE It Goes Public
You may be curious about the buzz surrounding Snap Inc.'s IPO on March 2. With the company expected to be valued around $22 billion, it is expected to be the largest IPO since 2014. But should you snap up this tech stock on Day 1?
In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges. You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months.
Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>