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Highwoods Properties Inc.

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Shares of Highwoods have underperformed the industry it belongs to, in the past three months. Moreover, the trend in estimate revisions of current-year funds from operations (FFO) per share does not indicate a favorable outlook for the company. The company’s efforts to expand in high-growth markets, disposition of non-core assets and investing the proceeds for further expansion bode well for long-term growth. However, the significant exposure to office portfolio remains a concern due to rising supply as well as limited demand for additional office space. Moreover, the company’s assets are concentrated in a few markets, which make it vulnerable to economic and political doldrums prevalent in the area. In addition, rate hike remains a concern.

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