Highwoods Properties Inc (HIW) on Tuesday, reported a return to profitability in the fourth quarter, driven primarily by gains on property dispositions, while full-year earnings rose despite lower revenues.
For the three months ended December 31, 2025, the office reported funds from operations of $203.4 million, compared with $205.5 million a year earlier. Total operating expenses declined to $150.3 million, from $178.7 million in the prior-year quarter, reflecting lower property expenses and the absence of impairment charges recorded in 2024.
Highwoods posted net income of $29.7 million for the quarter, compared with a net loss of $3.2 million in the fourth quarter of 2024. Net income available to common stockholders was $28.7 million, versus a loss of $3.7 million a year earlier. Earnings per share were $0.26, compared with a loss of $0.03 per share in the prior-year period.
For the year ended December 31, 2025, funds from operations declined to $806.1 million, from $825.9 million in 2024. Total operating expenses fell to $605.4 million, compared with $637.7 million a year earlier.
Full-year net income increased to $162.7 million, from $104.3 million in 2024. Net income available to common stockholders rose to $157.3 million, compared with $99.8 million a year earlier. Earnings per share increased to $1.45, from $0.94 in the prior year.
HIW closed Tuesday's trading at $25.99 up $0.19 or 0.74 percent on the New York Stock Exchange.
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