Highwoods Pptys Inc Stock Price, News & Analysis

Highwoods Properties, Inc. (NYSE: HIW) will announce its 2020 third quarter results on October 27th, after market close. A conference call is scheduled for October 28th, at 11:00 A.M. Eastern time. US/Canada callers can dial (800) 756-3565 to participate, and a live webcast will be available on the company's website. Highwoods is a real estate investment trust focused on office properties in key business districts across Atlanta, Charlotte, Nashville, and more, with membership in the S&P MidCap 400 Index.

Highwoods Properties, Inc. (NYSE: HIW) announced a cash tender offer for up to $150 million of its outstanding 3.20% Notes due 2021. The tender offer expires at midnight on August 26, 2020, unless extended. The Total Consideration for notes validly tendered by the Early Tender Deadline of August 12, 2020, includes an early tender premium of $30 per $1,000. Due to oversubscription, only approximately 67% of the notes will be accepted for purchase. The company will pay for the validly tendered notes on August 14, 2020. Wells Fargo Securities is managing the offer.

Highwoods Properties (NYSE: HIW) announced early results of its cash tender offer to purchase up to $150 million of its 3.20% Notes due 2021. As of the early tender deadline on August 12, 2020, $222.59 million in notes were validly tendered, exceeding the tender cap. The total consideration includes an early tender premium of $30 per $1,000 of notes accepted. The offer will expire on August 26, 2020, unless extended. Wells Fargo Securities is managing the offer, and payment for accepted notes is expected on August 14, 2020.

Highwoods Properties (NYSE: HIW) announced an increase in the principal amount of its outstanding 3.20% Notes due 2021 that it can purchase under its tender offer, raising the cap from $100 million to $150 million. This adjustment is subject to the conditions specified in the Offer to Purchase dated July 30, 2020. Wells Fargo Securities is the dealer manager for the Offer. Importantly, no recommendation is made regarding whether holders should tender their Notes, and the company emphasizes that this press release is strictly informational.

Highwoods Properties, Inc. (NYSE: HIW) has announced a $400 million offering of 2.600% unsecured notes, due February 1, 2031, priced to yield 2.645%. The offering will close on August 13, 2020. The proceeds will be used to finance a tender offer for existing 3.20% Notes due 2021, repay outstanding debts, and for general corporate purposes. Major financial institutions including Wells Fargo Securities and BofA Securities are managing the offering. The press release also highlights the company’s integration in commercial real estate, focusing on prime business districts.

Highwoods Properties (NYSE: HIW) announced a tender offer to purchase up to $100 million of its 3.20% Notes due in 2021. The offer, which commenced on July 30, 2020, allows holders to tender their notes until August 26, 2020, with an early tender deadline on August 12, 2020. The total consideration includes an early tender premium of $30.00 per $1,000 principal amount. Payments will cover accrued interest up until the settlement date, expected to be on August 14 or August 28 for tendered notes. The offer is subject to specific conditions outlined in the Offer to Purchase.

Highwoods Properties (NYSE: HIW) declared a quarterly cash dividend of $0.48 per share, totaling an annual dividend of $1.92. This dividend is payable on September 9, 2020, to shareholders on record by August 17, 2020. Additionally, a dividend of $21.5625 per share for the Series A Cumulative Redeemable Preferred Stock will be paid on August 31, 2020, to holders of record on August 17, 2020.

Highwoods Properties (NYSE: HIW) will announce its 2020 second quarter results on July 28, following market close. A conference call is scheduled for July 29 at 11:00 A.M. Eastern time. Investors can participate by calling (800) 756-3565 or accessing a live webcast via the company’s website. As a real estate investment trust (REIT), Highwoods focuses on owning, developing, acquiring, and managing properties in major business districts such as Atlanta, Charlotte, and Nashville.

Highwoods Properties (NYSE: HIW) announced a significant 138,000 sq. ft. lease renewal with the FBI in Tampa, marking its largest lease expiration in 2020. The company collected 99% of its rental income for June, following similar results in April and May. Highwoods is granting temporary rent deferrals representing 1.2% of its annualized rental revenues. Additionally, it sold two non-core office properties in Memphis for $23.3 million, projected to generate $1.4 million in cash net operating income for 2020 and expects non-FFO gains of $9.6 million in Q3.