Highwoods Announces $250M Common Stock Repurchase Program

Highwoods Properties (NYSE:HIW) announced a new $250 million common stock repurchase program authorized by its Board of Directors on April 22, 2026.

Rhea-AI Summary

Highwoods Properties (NYSE:HIW) announced a new $250 million common stock repurchase program authorized by its Board of Directors on April 22, 2026. The company expects to fund repurchases on a leverage-neutral basis using net proceeds from sales of non-core assets.

Repurchases may occur in the open market or via privately negotiated transactions, have no expiration date, and may be suspended, modified or discontinued at any time without obligation to repurchase a specific amount.

Positive

• $250 million authorized common stock repurchase program
• Plan intends to be leverage-neutral using non-core asset sale proceeds
• Repurchases may include open-market and privately negotiated transactions
• No expiration date gives the Board long-term flexibility

Negative

• Repurchases not guaranteed; company has no obligation to buy shares
• Funding depends on net proceeds from non-core asset sales
• Program may be suspended, modified, or discontinued at any time

Argus Apr 23 session

-0.34% close to close Open Argus

Details

News Market Reaction – HIW

In the Apr 23 session, HIW declined 0.34%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement introduces a new $250 million common stock repurchase program, funded on a leverag...

Analysis

This announcement introduces a new $250 million common stock repurchase program, funded on a leverage‑neutral basis via non-core asset sales and with no set expiration. It follows earlier steps like JV investments and an at‑the‑market equity program under an active Form S-3ASR. Investors may watch actual buyback execution relative to existing issuance capacity, as well as forthcoming earnings updates, to gauge how capital allocation choices affect per‑share metrics and balance sheet flexibility.

Key Figures

Buyback authorization: $250 million ATM program size: $300,000,000 Quarterly dividend: $0.50 +5 more

Buyback authorization

$250 million

New common stock repurchase program announced Apr 22, 2026

ATM program size

$300,000,000

At-the-market common stock offering capacity per Feb 11, 2026 424B5

Quarterly dividend

$0.50

Common dividend per share declared Jan 29, 2026 (annualized $2.00)

Annualized dividend

$2.00

Annualized common dividend per share from Jan 29, 2026 declaration

JV investment Bloc83

$210.5M

Expected 100% JV investment in Bloc83 per Jan 12, 2026 release

JV investment Terraces

$109.3M

Expected 100% JV investment in The Terraces per Jan 12, 2026 release

Institutional stake

12,354,822 shares (11.24%)

Cohen & Steers beneficial ownership as of Dec 31, 2025

Short interest

6.12%

Reported short interest as percent of float; days to cover 4.86

Historical Context

5 past events · Latest: Mar 24

5 events

1. Mar 24

   Earnings date notice

   24h Move

   +0.3%

   Announced Q1 2026 results release date and follow-up conference call.

2. Feb 10

   Earnings release

   24h Move

   -10.2%

   Reported availability of Q4 and full-year 2025 results on investor site.

3. Jan 29

   Dividend declaration

   24h Move

   -0.1%

   Declared quarterly common and preferred dividends for March 2026 payment.

4. Jan 12

   Investment activity

   24h Move

   -0.0%

   Announced two JV office acquisitions with detailed NOI outlook and funding plan.

5. Jan 06

   Earnings date notice

   24h Move

   -0.7%

   Scheduled Q4 2025 results release and earnings call with access details.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

stock repurchase program, block trades, at the market, forward sale agreements, +4 more

8 terms

stock repurchase program financial

"authorized the repurchase of up to $250 million of outstanding shares of common stock under a new stock repurchase program"

A stock repurchase program is when a company buys back its own shares from the market. This can make each remaining share more valuable and shows that the company believes its stock is a good investment. It’s like a business treating its shares like a limited resource, hoping to boost confidence and share prices.

block trades financial

"privately negotiated transactions (which may include block trades)"

A block trade is a single, large buy or sell of shares or bonds arranged privately between big traders rather than piecemeal on the public market. Think of it like buying a whole shipment at once instead of many small shopping trips; it lets large holders move big positions with less immediate disruption but can signal strong buying or selling pressure and cause price swings once the trade is known, so investors watch block trades for clues about market sentiment and liquidity.

at the market financial

"through an at-the-market program using multiple sales agents, forward sale agreements"

“At the market” describes a method companies use to sell newly issued shares directly into the open market at whatever the current trading price is, usually through a broker who places shares in small amounts over time. Investors care because it can reduce each existing shareholder’s ownership percentage and increase the number of shares outstanding, while giving the company a flexible, quick way to raise cash — like adding single seats to a train instead of buying a whole new carriage.

forward sale agreements financial

"The program also allows the company to use forward sale agreements, under which counterparties"

A forward sale agreement is a deal where two parties agree today to sell and buy an asset at a set price on a future date. It’s like promising to sell your car to a friend next month at today's price, regardless of how the car's value changes. These agreements help businesses lock in prices and reduce uncertainty about future costs or income.

warrants financial

"may sell warrants with strike prices above the hedge establishment price, receiving warrant premiums"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

automatic shelf registration statement regulatory

"issued under the company’s automatic shelf registration statement on Form S-3 and related prospectus"

An automatic shelf registration statement is a pre-approved filing that companies submit to securities regulators, allowing them to sell new shares or bonds quickly and efficiently when needed. It acts like a standing permit, enabling the company to raise money without going through a lengthy approval process each time, which can be helpful for responding promptly to market opportunities or needs. For investors, it provides transparency about the company's ability to raise funds and signals planning flexibility.

form s-3 regulatory

"automatic shelf registration statement on Form S-3 and related prospectus supplement"

Form S-3 is a legal document companies use to register their stock sales with the government, making it easier and faster for them to raise money by selling shares to investors. It’s like having a pre-approved shopping list that lets a company quickly sell new shares when they need funds, without going through a lengthy approval process each time.

restricted stock financial

"shares of restricted stock, consisting of time-based units that vest annually each March 1"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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RALEIGH, N.C., April 22, 2026 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) today announced that the Company’s Board of Directors has authorized the repurchase of up to $250 million of outstanding shares of common stock under a new stock repurchase program. The Company anticipates funding any stock repurchases on a leverage-neutral basis using the net proceeds from the sale of non-core assets.

The Company may purchase shares of common stock from time to time in amounts and at prices determined by the Company in its discretion. Shares of common stock may be repurchased in the open market or in privately negotiated transactions (which may include block trades). The common stock repurchase program does not have an expiration date, does not obligate the Company to repurchase any dollar amount or number of shares and may be suspended, modified or discontinued at any time without prior notice.

About Highwoods
Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (“REIT”) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. Our vision is to be a leader in the evolution of commercial real estate for the benefit of our customers, our communities and those who invest with us. Our mission is to create environments and experiences that inspire our teammates and our customers to achieve more together. We are in the work-placemaking business and believe that by creating exceptional environments and experiences, we can deliver greater value to our customers, their teammates and, in turn, our shareholders. For more information about Highwoods, please visit our website at www.highwoods.com.

Forward-Looking Statements
Some of the information in this press release may contain forward-looking statements. Such statements include, in particular, statements about the common stock repurchase program and our plans, strategies and prospects such as the following: the expected financial and operational results and the related assumptions underlying our expected results; the planned sales of non-core assets and expected pricing and impact with respect to such sales, including the tax impact of such sales; the anticipated total investment, projected leasing activity, estimated replacement cost and expected net operating income of acquired properties and properties to be developed; and expected future leverage of the Company. You can identify forward-looking statements by our use of forward-looking terminology such as “may,” “will,” “expect,” “anticipate,” “estimate,” “continue” or other similar words. Although we believe that our plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, we cannot assure you that our plans, intentions or expectations will be achieved.

Factors that could cause our actual results to differ materially from Highwoods’ current expectations include, among others, the following: the financial condition of our customers could deteriorate; our assumptions regarding potential losses related to customer financial difficulties could prove incorrect; counterparties under our debt instruments, particularly our revolving credit facility, may attempt to avoid their obligations thereunder, which, if successful, would reduce our available liquidity; we may not be able to lease or re-lease second generation space, defined as previously occupied space that becomes available for lease, quickly or on as favorable terms as old leases; we may not be able to lease newly constructed buildings as quickly or on as favorable terms as originally anticipated; we may not be able to complete development, acquisition, reinvestment, disposition or joint venture projects as quickly or on as favorable terms as anticipated; development activity in our existing markets could result in an excessive supply relative to customer demand; our markets may suffer declines in economic and/or office employment growth; increases in interest rates could increase our debt service costs; increases in operating expenses could negatively impact our operating results; natural disasters and climate change could have an adverse impact on our cash flow and operating results; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or repay or refinance outstanding debt upon maturity; and the Company could lose key executive officers.

This list of risks and uncertainties, however, is not intended to be exhaustive. You should also review the other cautionary statements we make in “Risk Factors” set forth in our 2025 Annual Report on Form 10-K. Given these uncertainties, you should not place undue reliance on forward-looking statements. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements to reflect any future events or circumstances or to reflect the occurrence of unanticipated events.

Contact:	Brendan Maiorana Executive Vice President and Chief Financial Officer brendan.maiorana@highwoods.com 919-872-4924

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Highwoods (HIW) announce about the $250 million stock repurchase on April 22, 2026?

Direct answer: Highwoods announced a Board-authorized $250 million common stock repurchase program on April 22, 2026. Context: According to Highwoods, the company expects to fund repurchases on a leverage-neutral basis using net proceeds from sales of non-core assets.

How will Highwoods (HIW) fund the $250M repurchase program and what does leverage-neutral mean?

Direct answer: Highwoods plans to fund repurchases using net proceeds from sales of non-core assets, aiming for leverage-neutral treatment. Context: According to Highwoods, this means buybacks are expected to avoid increasing net leverage by using asset-sale proceeds rather than new debt.

Can Highwoods (HIW) be required to repurchase shares under the new $250M program?

Direct answer: No, the company has no obligation to repurchase any dollar amount or number of shares under the program. Context: According to Highwoods, the program may also be suspended, modified or discontinued at any time without prior notice.

How will Highwoods (HIW) execute share repurchases under the $250M program?

Direct answer: Repurchases may occur in the open market or in privately negotiated transactions, including block trades. Context: According to Highwoods, purchases will be made at amounts and prices determined at the company's discretion over time.

Does the Highwoods (HIW) repurchase program have an expiration date or limits on timing?

Direct answer: The repurchase program does not have an expiration date and has no set timing commitments. Context: According to Highwoods, the Board retained discretion to suspend, modify or discontinue purchases and is not obligated to repurchase shares.