Highwoods Properties Inc. - HIW STOCK NEWS

Highwoods Properties, Inc. (NYSE:HIW) will announce its first-quarter 2022 financial results on April 26, 2022, after market close. A conference call is scheduled for April 27, 2022, at 11:00 A.M. Eastern time. For participants in the US and Canada, the call can be accessed at (800) 756-3565. Investors can also join a live webcast via the company's website. Highwoods, a REIT based in Raleigh, specializes in owning, developing, and managing properties in prime business districts across various cities including Atlanta and Nashville.

Highwoods Properties, Inc. (NYSE:HIW) has announced two significant leases in Tampa, totaling 183,000 square feet. The first is a 71,000 square foot lease at 5332 Avion, which is now 95% leased, marking the largest contiguous vacant space within the company’s portfolio. The second is a 112,000 square foot lease at One Independence, fully covering the company’s two largest lease expirations for 2022 with no downtime. CEO Ted Klinck emphasized that these leases ensure steady cash flow and mitigate lease rollover risks.

Highwoods Properties, Inc. (NYSE:HIW) has announced its fourth quarter and full year 2021 financial results. The company, headquartered in Raleigh, is a prominent real estate investment trust (REIT), focusing on acquiring, developing, and managing properties in major business districts across cities like Atlanta, Charlotte, and Nashville. Highwoods is listed on the S&P MidCap 400 Index, highlighting its market significance. For comprehensive details, the full report can be accessed through the investors section of their website.

Highwoods Properties, Inc. (NYSE:HIW) has declared a cash dividend of $0.50 per share for the quarter ending December 31, 2021, leading to an annualized dividend of $2.00 per share. This dividend will be payable on March 15, 2022, to shareholders recorded by February 22, 2022.

Additionally, a dividend of $21.5625 per share for the Company’s 8 5/8% Series A Cumulative Redeemable Preferred Stock has been announced, payable on February 28, 2022, to holders recorded by February 15, 2022.

Highwoods Properties, Inc. (NYSE:HIW) announces it will release its fourth quarter and full year 2021 results on February 8, 2022, after market close. A conference call is scheduled for February 9, 2022, at 11:00 A.M. Eastern time. US/Canada callers can dial (800) 756-3565 or join the webcast on the company's website. The company also outlined its 2022 financial release schedule with quarterly releases set after market close and subsequent calls at 11:00 A.M. Eastern time.

Highwoods Properties (NYSE:HIW) has announced a joint venture with Brand Properties to construct a 135,000 square foot office building at 2827 Peachtree in Atlanta's Buckhead district. The project involves a total investment of $79 million, with 62% of the space pre-leased. Highwoods owns a 50% interest in the venture. Construction is set to begin in Q1 2022, aiming for completion by Q3 2023. The development pipeline for Highwoods has now expanded to $283 million across 615,000 square feet, achieving 49% pre-leasing.

Highwoods Properties, Inc. (NYSE: HIW) sold non-core assets totaling $353 million since announcing its acquisition of office assets from Preferred Apartment Communities. Recent sales include two office buildings in Richmond for $20.8 million and Progress Center in Raleigh for $35 million. The sold properties had a combined occupancy of 76% and were expected to generate $2.7 million in net operating income in 2021. The company anticipates recognizing $92.9 million in gains from these transactions by year-end 2021, supporting its strategy to improve portfolio quality and cash flow.

Highwoods Properties (NYSE: HIW) announces the construction of GlenLake III in Raleigh, comprising 218,000 square feet, including 205,000 square feet of office space and 13,000 square feet of retail. The anticipated investment totals $94.4 million, with construction beginning Q4 2021 and completion expected by Q3 2023. 16% of the office space is already leased to McKim & Creed for their headquarters. This project aligns with Highwoods' strategy to enhance workplace environments and responds to the strong demand for quality office space in GlenLake.

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.