Highwoods Pptys Inc Stock Price, News & Analysis

Highwoods Properties (NYSE:HIW) has completed the acquisition of Advance Auto Parts Tower in Raleigh's North Hills Best Business District for $138 million. The property is a 346,000 square foot, 20-story, LEED-gold certified, Class AA office tower that was delivered in 2020.

The building was 100% leased as of December 31, 2024, with a weighted average lease term of 8.2 years. The tower is adjacent to Highwoods-owned CAPTRUST Tower, which was 98.4% leased with a 6.3-year weighted average lease term.

The newly acquired property is projected to generate $11.0 million in cash net operating income and $11.9 million in GAAP net operating income during the first four quarters post-closing.

Highwoods Properties (NYSE:HIW) has agreed to acquire Advance Auto Parts Tower, a 20-story Class AA office tower in Raleigh's North Hills Best Business District (BBD). The 346,000 square foot, LEED-gold certified building is currently 100% leased with an average lease term of 8.2 years.

The tower, delivered in 2020, is adjacent to Highwoods-owned CAPTRUST Tower, a 16-story, 300,000 square foot building that was 98.4% leased with a 6.3-year average lease term as of December 31, 2024. The acquisition will be funded using proceeds from recent non-core asset sales in Tampa, maintaining a leverage-neutral position.

The transaction is expected to close within 30 days, with Highwoods placing $20.0 million in non-refundable earnest money deposits. The company expects the capital rotation to be neutral to near-term FFO while being immediately accretive to cash flows and improving portfolio quality.

Highwoods Properties (NYSE:HIW) has announced its fourth quarter and full year 2024 results. Investors can access the full report through the company's website. The results cover a comprehensive overview of financial performance, including earnings, revenue, and other key metrics for the specified periods.

Highwoods Properties (NYSE:HIW) has announced several key transactions in Q4 2024 and early 2025. The company completed the sale of non-core properties in Raleigh and Tampa for $166.4 million, including one office building in North Raleigh (170,000 sq ft) and three buildings in Tampa's Westshore submarket (616,000 sq ft). These properties were 88% occupied with projected 2025 GAAP net operating income of $13.6 million.

Additionally, HIW acquired fee simple title to the land underneath its Century Center assets for $50.6 million. The Century Center is a 12-building office park in Atlanta's Chamblee/N. Druid Hills submarket, spanning 1.7 million square feet with 13 acres of developable land.

The company also raised $51.3 million through the sale of 1.59 million shares of common stock at an average price of $32.71 per share in Q4 2024.

Highwoods Properties (NYSE:HIW) has announced its Board of Directors' declaration of quarterly dividends. The company will pay a cash dividend of $0.50 per share of common stock for Q4 2024, equivalent to an annualized dividend of $2.00 per share. The payment is scheduled for March 11, 2025, with a record date of February 18, 2025.

Additionally, holders of the company's 8 5/8% Series A Cumulative Redeemable Preferred Stock will receive a cash dividend of $21.5625 per share, payable on February 28, 2025, to shareholders of record as of February 18, 2025.

Highwoods Properties (NYSE:HIW) has scheduled its fourth quarter 2024 financial results release for Tuesday, February 11th, 2025, after market close. The company will host a conference call to discuss the results on Wednesday, February 12th, 2025, at 11:00 A.M. Eastern time.

Participants can join via phone using the following details: US/Canada callers should dial (833) 470-1428, while international callers should dial (404) 975-4839, both using access code 441734. A live webcast will be available on the company's website, and a replay will be accessible afterward.

National Health Investors (NYSE:NHI) has appointed Candice Todd to its Board of Directors, effective January 1, 2025. Todd previously served as Managing Director/Global Chief Financial Officer of Morgan Stanley Real Estate Investments from 2019 until February 2023. She brings extensive experience in real estate investment and finance, having worked at Morgan Stanley since 1994 in various roles. Todd currently serves on the Board of Directors at Highwoods Properties (NYSE:HIW) as a financial expert and audit committee member. NHI's CEO Eric Mendelson expects her expertise to contribute to the company's internal and external growth objectives.

Highwoods Properties, Inc. (NYSE:HIW) has announced its Board of Directors' declaration of dividends for Q3 2024. Common stockholders will receive a cash dividend of $0.50 per share, payable on December 10, 2024, to holders of record as of November 18, 2024. This equates to an annualized dividend of $2.00 per share.

Additionally, holders of the Company's 8 5/8% Series A Cumulative Redeemable Preferred Stock will receive a cash dividend of $21.5625 per share, payable on December 2, 2024, to holders of record as of November 15, 2024.

Highwoods Properties (NYSE:HIW) has reported no notable damage to its Florida properties following Hurricane Milton. The company conducted a thorough assessment of its buildings in Orlando and Tampa after the storm. Ted Klinck, President and CEO, expressed gratitude for the safety of all Highwoods employees in the affected areas and praised the team's preparation efforts. He also extended thoughts and prayers to those severely impacted by both Hurricane Helene and Hurricane Milton, acknowledging the need for community support in the aftermath of these natural disasters.