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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
CEO
Theodore Klinck
Employees
Incorporated
Location
Fiscal year end
Former names
HIGHWOODS PROPERTIES INC
SEC CIK
Subsidiaries
Highwoods Realty Limited Partnership • HRLP Fourth Avenue, LLC • HRLP Capitol Towers, L.P. • HRLP Fayetteville, L.P. ...
IRS number
561871668

HIW stock data

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
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

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
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

Financial report summary

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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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