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Highwoods Properties (HIW)

Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.

Company profile

Ticker
HIW
Exchange
NYSE
Website
www.highwoods.com
CEO
Theodore Klinck
Employees
Incorporated
Maryland
Location
North Carolina
Fiscal year end
Dec 31
Sector
Finance and Insurance > Other Financial Vehicles
Industry (SIC)
Real Estate Investment Trusts
Annaly Capital Management • AGNC Investment • VEREIT • Prologis • Vornado Realty • Vornado Realty Trust • Welltower • Healthpeak Properties • Erp Operating LTD Partnership • Equity Residential Properties Trust ...
Former names
HIGHWOODS PROPERTIES INC
SEC CIK
0000921082
Corporate docs
Subsidiaries
Highwoods Realty Limited Partnership • HRLP Fourth Avenue, LLC • HRLP Capitol Towers, L.P. • HRLP Fayetteville, L.P. ...
IRS number
561871668

HIW stock data

News

From Benzinga Pro
Benzinga's Top Ratings Upgrades, Downgrades For June 23, 2022
23 Jun 22
Upgrades
Credit Suisse Initiates Coverage On Highwoods Props with Neutral Rating, Announces Price Target of $34
23 Jun 22
Credit Suisse analyst Tayo Okusanya initiates coverage on Highwoods Props (NYSE:HIW) with a Neutral rating and announces Price Target of $34.
Stocks That Hit 52-Week Lows On Tuesday
14 Jun 22
On Tuesday, 951 companies hit new 52-week lows.
Stocks That Hit 52-Week Lows On Monday
13 Jun 22
Highwoods Announces $98M Of Non-Core Asset Sales
19 May 22

Press releases

From Benzinga Pro
Highwoods Recasts Term Loan
25 May 22
RALEIGH, N.C., May 25, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has executed a recast of its $200 million unsecured bank term loan by extending the maturity date from November 2022 to May 2026 and
Highwoods Announces $98M of Non-Core Asset Sales
19 May 22
RALEIGH, N.C., May 19, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has sold the FBI Tampa Field Office, a 138,000 square foot office building developed by Highwoods as a build-to-suit for the FBI in
Highwoods Selected as 2022 Green Lease Leader
18 May 22
RALEIGH, N.C., May 18, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has been selected as a 2022 Green Lease Leader today by The Institute for Market Transformation (IMT) and the U.S. Department of
Highwoods to Host Investor Day Thursday, May 12, 2022
10 May 22
Highwoods Announces Charlotte Market Expansion
9 May 22

Analyst ratings and price targets

Last 3 months
Current price
Average target
$40.00
Low target
$34.00
High target
$46.00
Credit Suisse
Initiated
Neutral
$34.00
23 Jun 22
Mizuho
Initiated
Neutral
$46.00
22 Apr 22

Calendar

26 Apr 22
26 Jun 22
31 Dec 22

Financial summary

Financial statements Chart HIW financial data
Quarter (USD) Dec 21 Sep 21 Jun 21 Mar 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 31.2M 31.2M 31.2M 31.2M 31.2M 31.2M
Cash burn (monthly) 3.23M 13.17M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 19M 77.39M n/a n/a n/a n/a
Cash remaining 12.2M -46.19M n/a n/a n/a n/a
Runway (months of cash) 3.8 -3.5 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

HIW insider ownership history Insider history
Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Mar 22 Gene H Anderson Common Stock Grant Acquire A No No 0 2,085 0 81,059
1 Mar 22 Charles Albert Anderson Common Stock Grant Acquire A No No 0 2,085 0 15,398
1 Mar 22 Brendan C Maiorana Common Stock Sale back to company Dispose D No No 0 506 0 37,754
1 Mar 22 Brendan C Maiorana Common Stock Payment of exercise Dispose F No No 0 1,107 0 38,260
1 Mar 22 Brendan C Maiorana Common Stock Grant Acquire A No No 0 20,064 0 39,367
1 Mar 22 Thomas P Anderson Common Stock Grant Acquire A No No 0 2,085 0 9,152
1 Mar 22 Anne H Lloyd Common Stock Grant Acquire A No No 0 2,085 0 9,725
Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

HIW institutional ownership history Ownership history
97.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 311 323 -3.7%
Opened positions 31 46 -32.6%
Closed positions 43 21 +104.8%
Increased positions 128 134 -4.5%
Reduced positions 115 102 +12.7%
13F shares Current Prev Q Change
Total value 4.71B 4.59B +2.7%
Total shares 102.96M 102.81M +0.1%
Total puts 1.9K 0 NEW
Total calls 25.9K 18.4K +40.8%
Total put/call ratio 0.1 – –
Largest owners Shares Value Change
Vanguard 15.83M $724.04M +4.6%
CNS Cohen & Steers 15.63M $714.94M +2.7%
BLK Blackrock 11.78M $538.81M -5.8%
STT State Street 6.34M $290.16M +14.0%
FMR 5.14M $234.98M +4.3%
GS Goldman Sachs 2.19M $99.97M -36.4%
NTRS Northern Trust 2.09M $95.44M +30.9%
DSECF Daiwa Securities 2.05M $93.99M -0.6%
Dimensional Fund Advisors 1.82M $83.28M -1.1%
Geode Capital Management 1.63M $74.58M -12.5%
Largest transactions Shares Bought/sold Change
GS Goldman Sachs 2.19M -1.25M -36.4%
Norges Bank 0 -1.06M EXIT
MS Morgan Stanley 1.25M +801.5K +179.0%
STT State Street 6.34M +781.48K +14.0%
TROW T. Rowe Price 58.17K -732.74K -92.6%
BLK Blackrock 11.78M -723.45K -5.8%
Vanguard 15.83M +699.1K +4.6%
Jacobs Levy Equity Management 774.96K +672.84K +658.8%
BAM Brookfield Asset Management 1.36M -651.6K -32.4%
Cbre Clarion Securities 641.98K +641.98K NEW
Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

?
Management Discussion
  • Rental and other revenues were $22.6 million, or 12.3%, higher in the first quarter of 2022 as compared to 2021 primarily due to the acquisition of real estate assets from PAC, development properties placed in service and higher same property revenues, which increased rental and other revenues by $16.6 million, $8.6 million and $5.8 million, respectively. Same property rental and other revenues were higher primarily due to higher average GAAP rents per rentable square foot, higher average occupancy and higher cost recovery and parking income. These increases were partially offset by lost revenue of $8.5 million from property dispositions. We expect rental and other revenues to be higher for the remainder of 2022 as compared to 2021 for similar reasons.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: Anne, assessment, Asurion, attention, audit, aware, Bachelor, Brand, breach, Buckhead, carrying, chair, commercially, committee, component, composed, conduct, confidential, cyber, cyberattack, cybersecurity, department, devoted, differentiated, disaster, enable, enterprise, face, feedback, function, Hunt, independent, Institute, lead, Lloyd, long, monitor, multiple, November, overseeing, Peachtree, personal, policy, posed, possession, program, public, remediation, resiliency, responding, responsible, restore, Ryan, Science, simulation, technology, test, threat, training, Truist, verifying
Removed: accelerated, accelerating, answer, applicable, application, applied, Armour, assistance, assumption, bankruptcy, bridge, capable, Code, commission, concession, consistently, creative, deemed, developed, difficulty, dispose, document, execution, exiting, expedient, extended, file, focused, global, Greensboro, material, method, mezzanine, party, penalty, practical, precluded, prepaid, prepayment, private, provision, question, reached, recently, recognition, recording, removal, replaced, rotation, spread, swap, treated, treatment, ultimately, unamortized
From filing 10-Q 2022 Q1
Financial reports
View all
10-Q
2022 Q1
Quarterly report
26 Apr 22
10-K
2021 FY
Annual report
7 Feb 22
10-Q
2021 Q3
Quarterly report
26 Oct 21
10-Q
2021 Q2
Quarterly report
27 Jul 21
10-Q
2021 Q1
Quarterly report
27 Apr 21
10-K
2020 FY
Annual report
9 Feb 21
10-Q
2020 Q3
Quarterly report
27 Oct 20
10-Q
2020 Q2
Quarterly report
28 Jul 20
10-Q
2020 Q1
Quarterly report
28 Apr 20
10-K
2019 FY
Annual report
4 Feb 20
Current reports
View all
8-K
Entry into a Material Definitive Agreement
25 May 22
8-K
Submission of Matters to a Vote of Security Holders
10 May 22
8-K
Highwoods Closes Acquisition of Office Assets from
30 Jul 21
8-K
Departure of Directors or Certain Officers
11 May 21
8-K
Highwoods Agrees to Acquire Office Assets from
19 Apr 21
8-K
Entry into a Material Definitive Agreement
19 Mar 21
8-K
Departure of Directors or Certain Officers
16 Nov 20
8-K
Highwoods Announces Early Results of Tender Offer for Up to $150,000,000 of Outstanding 3.20% Notes due 2021
13 Aug 20
8-K
Highwoods Announces Tender Offer for Up to $100,000,000 Outstanding 3.20% Notes due 2021
31 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
12 May 20
Registration and prospectus
View all
S-8
Registration of securities for employees
9 Feb 22
S-8
Registration of securities for employees
19 Jun 20
424B5
Prospectus supplement for primary offering
5 Feb 20
S-3ASR
Automatic shelf registration
4 Feb 20
424B5
Prospectus supplement for primary offering
6 Feb 18
424B2
Prospectus for primary offering
7 Feb 17
S-3ASR
Automatic shelf registration
6 Feb 17
424B2
Prospectus for primary offering
9 Feb 16
S-8
Registration of securities for employees
12 May 15
424B3
Prospectus supplement
6 May 14
Proxies
View all
DEFA14A
Additional proxy soliciting materials
31 Mar 22
DEF 14A
Definitive proxy
31 Mar 22
DEFA14A
Additional proxy soliciting materials
26 Mar 21
DEF 14A
Definitive proxy
26 Mar 21
DEFA14A
Additional proxy soliciting materials
23 Apr 20
DEFA14A
Additional proxy soliciting materials
27 Mar 20
DEF 14A
Definitive proxy
27 Mar 20
DEFA14A
Additional proxy soliciting materials
29 Mar 19
DEF 14A
Definitive proxy
29 Mar 19
DEF 14A
Definitive proxy
29 Mar 18
Other
View all
EFFECT
Notice of effectiveness
1 May 14
CORRESP
Correspondence with SEC
29 Apr 14
CORRESP
Correspondence with SEC
16 Apr 14
UPLOAD
Letter from SEC
23 Feb 14
UPLOAD
Letter from SEC
16 May 13
CORRESP
Correspondence with SEC
30 Apr 13
UPLOAD
Letter from SEC
21 Apr 13
UPLOAD
Letter from SEC
10 Apr 12
CORRESP
Correspondence with SEC
22 Mar 12
UPLOAD
Letter from SEC
12 Mar 12
Ownership
View all
4
HIGHWOODS PROPERTIES / Brian M Leary ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / Jeffrey Douglas Miller ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / Theodore J Klinck ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / David L Gadis ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / Thomas P Anderson ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / ANNE H LLOYD ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / David John Hartzell ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / Carlos E Evans ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / GENE H ANDERSON ownership change
2 Mar 22
4
HIGHWOODS PROPERTIES / Charles Albert Anderson ownership change
2 Mar 22

Transcripts

View all
2022 Q1
Earnings call transcript
27 Apr 22
2021 Q4
Earnings call transcript
9 Feb 22
2021 Q3
Earnings call transcript
27 Oct 21
2021 Q2
Earnings call transcript
29 Jul 21
2021 Q1
Earnings call transcript
2 May 21
2020 Q4
Earnings call transcript
10 Feb 21
2020 Q3
Earnings call transcript
28 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
29 Apr 20
2019 Q4
Earnings call transcript
5 Feb 20

Reddit threads

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