Highwoods Pptys Inc Stock Price, News & Analysis

Highwoods Properties (NYSE:HIW) has finalized the sale of two office buildings in Atlanta for a total of $68.6 million. The properties sold include 5405 Windward Parkway (248,000 sq. ft.) for $48.0 million and 50 Glenlake (145,000 sq. ft.) for $20.6 million. The company anticipates closing three additional non-core offices, totaling 366,000 sq. ft., for $65.5 million by year-end. These properties represent a collective 78% occupancy and were expected to generate approximately $7.8 million in net operating income for 2021. This marks a significant step in Highwoods' strategy to enhance its balance sheet and portfolio quality.

Highwoods Properties, Inc. (NYSE:HIW) has declared a cash dividend of $0.50 per share for the quarter ending September 30, 2021, corresponding to an annualized dividend of $2.00 per share. This dividend will be payable on December 7, 2021, to all shareholders of record by November 15, 2021. Additionally, the Board announced a dividend of $21.5625 per share for the 8 5/8% Series A Preferred Stock, payable on November 30, 2021, to holders of record by November 15, 2021.

Highwoods Properties, Inc. (NYSE:HIW) announced its third quarter 2021 results on October 26, 2021. The company is a publicly-traded real estate investment trust (REIT) specializing in property management and development across key business districts in major cities. For full details, investors can access the release on their website. Highwoods is a member of the S&P MidCap 400 Index and operates primarily in cities like Atlanta, Charlotte, and Nashville.

Highwoods Properties has acquired the remaining 77 acres of development land at Ovation in Franklin, TN, for $57.8 million, giving the company total ownership of the 145-acre mixed-use project. This strategic acquisition allows Highwoods to re-imagine Ovation’s master plan, initially approved for 1.4 million square feet of office space and over 400,000 square feet of retail, among other developments. Highwoods plans to collaborate with the City of Franklin to enhance this property, aiming to create a premier live-work-play environment.

Highwoods Properties (NYSE:HIW) has sold two non-core office buildings totaling 443,000 square feet for $119.7 million. The sold properties include Stony Point VI in Richmond for $52.2 million and Crescent Center in Memphis for $67.5 million, which were 80% occupied and projected to generate $6.5 million in annual cash net operating income. The company expects non-FFO gains of $37.3 million in Q3 2021 from these sales. These transactions are part of a broader strategy to dispose of $500-$600 million in non-core assets by mid-2022.

Highwoods Properties, Inc. (NYSE:HIW) is set to release its third quarter 2021 results on October 26, after market close. A conference call will occur the following day, October 27, at 11:00 A.M. Eastern time. U.S. and Canadian callers can join by dialing (800) 756-3565. A live webcast will be available on the Company's website, with a replay accessible afterwards. Highwoods is a publicly traded real estate investment trust specializing in office properties across key business districts in various cities.

Highwoods Properties, Inc. (NYSE:HIW) has acquired a portfolio of office assets from Preferred Apartment Communities, Inc. (NYSE:APTS) for a total investment of $683 million. This includes $28 million for building improvements and $4 million in transaction costs. The portfolio consists of four Class A office buildings in Charlotte and Raleigh, totaling 1.63 million square feet, and a mixed-use redevelopment site in Atlanta. The properties are 94% occupied, projected to generate $38.3 million in cash net operating income, with financing partly through a $200 million bridge loan.

Highwoods Properties (NYSE:HIW) announced its second quarter 2021 results on July 27, 2021. As a publicly-traded real estate investment trust (REIT), the company focuses on owning, developing, and managing properties in key business districts across major U.S. cities including Atlanta, Charlotte, and Nashville. Investors can access detailed financial results and insights through the company's investor section. The press release highlights Highwoods' strategic focus and position in the S&P MidCap 400 Index.

Highwoods Properties, Inc. (NYSE:HIW) announces the retirement of CFO Mark Mulhern, effective January 1, 2022, with Brendan Maiorana appointed as his successor. Mulhern's decade-long tenure is recognized for strong strategic leadership. Maiorana, previously Executive VP of Finance, has been integral in financial stewardship. Additionally, Sara Carlton is promoted to Vice President and Associate General Counsel, and Ryan Hunt to Vice President and Chief Information Officer. Highwoods is a publicly traded REIT focused on office properties in major business districts across the southeastern U.S.