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The Zacks Analyst Blog BXP, Cousins, SL Green and Highwoods
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For Immediate Releases
Chicago, IL – January 26, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includeBXP Inc. (BXP - Free Report) , Cousins Properties (CUZ - Free Report) , SL Green (SLG - Free Report) and Highwoods Properties (HIW - Free Report) .
Here are highlights from Monday’s Analyst Blog:
How Are Office REITs Positioned in Q4 as Demand Gathers Steam?
Office REITs face a turning point as macro conditions improve. After several years of excess supply and weak leasing, demand began to recover in 2025, driven by stronger office-using employment and firms returning to higher-quality space. Interest-rate stability and moderating construction costs should help fundamentals, though regional variation and capital market dynamics will keep earnings and valuations under investor scrutiny.
Several office REITs are set to report in the coming weeks, offering clues about leasing velocity and rent growth. BXP Inc., Cousins Properties, SL Green and Highwoods Properties each have distinct exposures to gateway or Sun Belt markets. Their results will help investors separate market-wide trends from company-specific execution and capital strategies and forward guidance.
Office Real Estate Market Fundamentals in Q4
Cushman & Wakefield’s fourth-quarter 2025 report shows office demand gaining traction. National net absorption turned positive in the final six months of 2025, and Class A absorption was especially strong. Overall vacancy stabilized near 20.5%, which edged up 5 basis points (bps) from the prior quarter, marking an annualized increase of just 30 bps, the smallest rise seen since 2020, while asking rents ticked higher to about $38.37 per square foot. Sublease inventories have also materially declined, tightening effective available space across many major markets.
Construction activity is muted: the pipeline fell sharply, with less than 20 million square feet under construction and completions at cycle lows. The Cushman report notes the pipeline declined roughly 35% in 2025, and demolitions and conversions are removing older stock. This supply restraint, combined with concentrated demand in gateway and Sun Belt markets, is supporting a firmer leasing backdrop and recovery.
Looking ahead, per the Cushman report, vacancy appears near a peak as occupier demand accelerates, especially for quality assets, and sublease drawdowns continue. Debt and capital markets are warming, which could ease financing stress. Still, construction costs, policy uncertainty and selective repurposing of assets mean shrinkage in office inventories.
Let’s now check the above-mentioned REITs and how they are expected to report in the upcoming weeks.
How Are Office REITs Placed Ahead of Q4 Earnings?
BXP is the largest publicly traded U.S. office REIT, focused on high-quality workplaces in six major gateway markets. With more than five decades of experience, its fully integrated platform managed a 54.6-million-square-foot portfolio spanning 187 properties, including active development and redevelopment projects as of Sept. 30, 2025.
BXP’s focus on having a portfolio of premier office assets in a few select markets in the United States is expected to help the REIT benefit as the demand for such office assets remains strong. BXP also recently announced that it has completed asset dispositions worth net proceeds of more than $1 billion. This marks a major milestone in its strategic multi-year asset sales plan of $1.9 billion. Dispositions amounted to $845 million through the year ended 2025, and with two additional sales this month, the total crossed $1 billion through Jan. 14, 2026.
BXP is set to announce its fourth-quarter 2025 earnings on Jan. 27, after market close. The Zacks Consensus Estimate of $814.66 million for fourth-quarter revenues suggests a 2.06% year-over-year increase. The Zacks Consensus Estimate for the quarterly core FFO per share of $1.80 implies year-over-year growth of 0.6%. BXP currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cousins Properties’ portfolio of Class A office assets in high-growth Sun Belt markets is witnessing higher leasing activity due to tenants’ preference for premium office spaces with class-apart amenities.
With negligible new starts, limited ongoing construction activities and a growing emphasis on return-to-office mandates, Cousins’ development pipeline is well-poised to embrace this flight to quality opportunity. A diverse tenant base assures steady cash flows. Its capital-recycling efforts are encouraging, and a healthy balance sheet aids financial flexibility.
Cousins Properties is scheduled to release its fourth-quarter 2025 earnings on Feb. 5, after market close. Currently, the Zacks Consensus Estimate for CUZ’s quarterly revenues is pegged at $248.65 million, indicating a 12.91% increase year over year. The Zacks Consensus Estimate for the quarterly FFO per share of 71 cents suggests year-over-year growth of 2.9%. CUZ has a Zacks Rank #3.
SL Green is a New York–focused office REIT with the largest exposure to Manhattan office assets. The company operates an integrated platform that invests across owned properties, debt, and preferred equity, with interests covering roughly 30.7 million square feet across 53 buildings as of Sept. 30, 2025.
SL Green’s high-quality portfolio is well-poised for growth, given tenants’ solid demand for premier office spaces. However, it faces intense competition from developers, owners and operators of office properties and other commercial real estate. To attract and retain tenants, the company is offering rent concessions on its leased properties, impacting its revenue growth.
SL Green is set to announce its fourth-quarter 2025 earnings results on Jan. 28, after market close. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $147.03 million, indicating a 5.32% year-over-year rise. However, the consensus mark for FFO per share of $1.10 indicates a 24.14% decrease year over year. SLG currently has a Zacks Rank #5 (Strong Sell).
Highwoods Properties is a Raleigh-based, office REIT with a strong Sun Belt focus. The company owns, develops, and operates office assets primarily in top business districts across markets such as Atlanta, Charlotte, Dallas, Nashville, Raleigh and Tampa, benefiting from long-term regional growth trends.
Highwoods Properties’ portfolio of premier office properties in high-growth Sun Belt markets is well-poised to capitalize on tenants’ growing preference for office spaces with class-apart amenities. However, competition from other players is likely to limit its pricing power and hurt profitability.
Highwoods is set to announce its fourth-quarter 2025 earnings results on Feb. 10, after market close. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $208.23 million, suggesting a 1.31% year-over-year rise. The Zacks Consensus Estimate for the quarterly FFO per share is expected to remain flat year over year at 85 cents. HIW has a Zacks Rank #4 (Sell).
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Previewreports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog BXP, Cousins, SL Green and Highwoods
For Immediate Releases
Chicago, IL – January 26, 2026 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includeBXP Inc. (BXP - Free Report) , Cousins Properties (CUZ - Free Report) , SL Green (SLG - Free Report) and Highwoods Properties (HIW - Free Report) .
Here are highlights from Monday’s Analyst Blog:
How Are Office REITs Positioned in Q4 as Demand Gathers Steam?
Office REITs face a turning point as macro conditions improve. After several years of excess supply and weak leasing, demand began to recover in 2025, driven by stronger office-using employment and firms returning to higher-quality space. Interest-rate stability and moderating construction costs should help fundamentals, though regional variation and capital market dynamics will keep earnings and valuations under investor scrutiny.
Several office REITs are set to report in the coming weeks, offering clues about leasing velocity and rent growth. BXP Inc., Cousins Properties, SL Green and Highwoods Properties each have distinct exposures to gateway or Sun Belt markets. Their results will help investors separate market-wide trends from company-specific execution and capital strategies and forward guidance.
Office Real Estate Market Fundamentals in Q4
Cushman & Wakefield’s fourth-quarter 2025 report shows office demand gaining traction. National net absorption turned positive in the final six months of 2025, and Class A absorption was especially strong. Overall vacancy stabilized near 20.5%, which edged up 5 basis points (bps) from the prior quarter, marking an annualized increase of just 30 bps, the smallest rise seen since 2020, while asking rents ticked higher to about $38.37 per square foot. Sublease inventories have also materially declined, tightening effective available space across many major markets.
Construction activity is muted: the pipeline fell sharply, with less than 20 million square feet under construction and completions at cycle lows. The Cushman report notes the pipeline declined roughly 35% in 2025, and demolitions and conversions are removing older stock. This supply restraint, combined with concentrated demand in gateway and Sun Belt markets, is supporting a firmer leasing backdrop and recovery.
Looking ahead, per the Cushman report, vacancy appears near a peak as occupier demand accelerates, especially for quality assets, and sublease drawdowns continue. Debt and capital markets are warming, which could ease financing stress. Still, construction costs, policy uncertainty and selective repurposing of assets mean shrinkage in office inventories.
Let’s now check the above-mentioned REITs and how they are expected to report in the upcoming weeks.
How Are Office REITs Placed Ahead of Q4 Earnings?
BXP is the largest publicly traded U.S. office REIT, focused on high-quality workplaces in six major gateway markets. With more than five decades of experience, its fully integrated platform managed a 54.6-million-square-foot portfolio spanning 187 properties, including active development and redevelopment projects as of Sept. 30, 2025.
BXP’s focus on having a portfolio of premier office assets in a few select markets in the United States is expected to help the REIT benefit as the demand for such office assets remains strong. BXP also recently announced that it has completed asset dispositions worth net proceeds of more than $1 billion. This marks a major milestone in its strategic multi-year asset sales plan of $1.9 billion. Dispositions amounted to $845 million through the year ended 2025, and with two additional sales this month, the total crossed $1 billion through Jan. 14, 2026.
BXP is set to announce its fourth-quarter 2025 earnings on Jan. 27, after market close. The Zacks Consensus Estimate of $814.66 million for fourth-quarter revenues suggests a 2.06% year-over-year increase. The Zacks Consensus Estimate for the quarterly core FFO per share of $1.80 implies year-over-year growth of 0.6%. BXP currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BXP, Inc. price-eps-surprise | BXP, Inc. Quote
Cousins Properties’ portfolio of Class A office assets in high-growth Sun Belt markets is witnessing higher leasing activity due to tenants’ preference for premium office spaces with class-apart amenities.
With negligible new starts, limited ongoing construction activities and a growing emphasis on return-to-office mandates, Cousins’ development pipeline is well-poised to embrace this flight to quality opportunity. A diverse tenant base assures steady cash flows. Its capital-recycling efforts are encouraging, and a healthy balance sheet aids financial flexibility.
Cousins Properties is scheduled to release its fourth-quarter 2025 earnings on Feb. 5, after market close. Currently, the Zacks Consensus Estimate for CUZ’s quarterly revenues is pegged at $248.65 million, indicating a 12.91% increase year over year. The Zacks Consensus Estimate for the quarterly FFO per share of 71 cents suggests year-over-year growth of 2.9%. CUZ has a Zacks Rank #3.
Cousins Properties Incorporated price-eps-surprise | Cousins Properties Incorporated Quote
SL Green is a New York–focused office REIT with the largest exposure to Manhattan office assets. The company operates an integrated platform that invests across owned properties, debt, and preferred equity, with interests covering roughly 30.7 million square feet across 53 buildings as of Sept. 30, 2025.
SL Green’s high-quality portfolio is well-poised for growth, given tenants’ solid demand for premier office spaces. However, it faces intense competition from developers, owners and operators of office properties and other commercial real estate. To attract and retain tenants, the company is offering rent concessions on its leased properties, impacting its revenue growth.
SL Green is set to announce its fourth-quarter 2025 earnings results on Jan. 28, after market close. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $147.03 million, indicating a 5.32% year-over-year rise. However, the consensus mark for FFO per share of $1.10 indicates a 24.14% decrease year over year. SLG currently has a Zacks Rank #5 (Strong Sell).
SL Green Realty Corporation price-eps-surprise | SL Green Realty Corporation Quote
Highwoods Properties is a Raleigh-based, office REIT with a strong Sun Belt focus. The company owns, develops, and operates office assets primarily in top business districts across markets such as Atlanta, Charlotte, Dallas, Nashville, Raleigh and Tampa, benefiting from long-term regional growth trends.
Highwoods Properties’ portfolio of premier office properties in high-growth Sun Belt markets is well-poised to capitalize on tenants’ growing preference for office spaces with class-apart amenities. However, competition from other players is likely to limit its pricing power and hurt profitability.
Highwoods is set to announce its fourth-quarter 2025 earnings results on Feb. 10, after market close. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $208.23 million, suggesting a 1.31% year-over-year rise. The Zacks Consensus Estimate for the quarterly FFO per share is expected to remain flat year over year at 85 cents. HIW has a Zacks Rank #4 (Sell).
Highwoods Properties, Inc. price-eps-surprise | Highwoods Properties, Inc. Quote
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Previewreports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.