This paper studies the channel estimation for wideband multiple-input multiple-output (MIMO) systems equipped with hybrid analog/digital transceivers operating in the millimeter-wave (mmWave) or terahertz (THz) bands. By exploiting the low-rank property of the concatenated channel matrix of the delay taps, we formulate the channel estimation problem as a low-rank matrix sensing (LRMS) problem and solve it using a low-complexity generalized conditional gradient-alternating minimization (GCG-ALTMIN) algorithm. This LRMS-based solution can accommodate different precoder/combiner and training structures. In addition, it does not require knowledge about the array responses at the transceivers, in contrast to most existing solutions allowing low training overhead. Furthermore, a preconditioned conjugate gradient (PCG) algorithm-based implementation and a low-rank matrix completion (LRMC) formulation are proposed to further reduce the computational complexity. In order to enhance the channel estimation performance for fat and tall channel matrices, we introduce a matrix reshaping approach that can preserve the channel rank by exploiting the shift-invariance property of uniform arrays. We also introduce a spectrum denoising (SD) approach for further improving the performance when the array responses are known and the number of paths is small. These approaches can effectively enhance the performance at a given training overhead. Simulation results suggest that the proposed solutions can achieve higher channel estimation accuracy and reduce the computational complexity as compared to several representative channel estimation schemes.