The site is located less than one mile from Highwoods-owned Riverwood 100 and 200, which encompass 800,000 square feet and were 95% occupied on a combined basis at December 31, 2020. WebIn addition to serving as a Highwoods Board member, Mr. Evans is a director and member of the compensation committee of Goldman Sachs BDC (NYSE: GSBD). purchased 658.34K shares, valued at $15.27B, as of undefined. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, For more information about Highwoods Properties, please visit our website at www.highwoods.com. That said, Highwoods Properties'FFO payout ratio in 2022 was roughly 50%. Additionally, Carman is former chair of the Diocesan Finance Council for the Raleigh Catholic Diocese and is a member of the board for Haven House Services. per share (valued at -). Raleigh, NC 27601, Highwoods Properties, Inc. (HIW) DCF Excel Template, Your email address will not be published. In the middle, meanwhile, is the CRSP US REIT Index, which shows how much the 20 or so office REITs trail even in their own sector. AdvisorsJ.P. That's while the S&P 500 itself is up about 18%. A high interest rate is another concern for Highwoods. They acquired more office and industrial properties throughout the southeastern United States. And, on top of that, it has a top-20 tenant that is moving out (accounting for 0.84% of rents in 2022) that will reduce occupancy. That's pretty strong, noting that office REITs tend to have lower payout ratios because offices have higher ongoing costs than other property types. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. The owner of a well-known Sanford mall is more than $800,000 behind on its property taxes, Orlando Highwoods Properties, Inc. is a real estate investment trust (REIT). Ms. Carlton is a graduate of James Madison University with a BA in history and earned her law degree at Wake Forest University. What are the Porter's Five Forces of Fortinet, Inc. (FTNT). Because Galleria 75 will be classified as a development parcel, net operating income generated from the two existing buildings, which is estimated to be approximately $1.2 million annually, will not be included in the Companys calculation of FFO. open market buy trades and 0 open market sell trades of Highwoods Properties's stocks. The bridge facility, which is subject to definitive documentation and customary conditions, can be extended at the Companys option for an additional six-month period and will contain financial and other covenants that are similar to the covenants under the Companys revolving credit facility. Select an address below to search who owns that property on Highwoods Road and uncover many additional details. The top five shareholders own together 52.18% of the company's share outstanding. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The Motley Fool has no position in any of the stocks mentioned. Highwoods Properties, Inc. is a real estate investment trust (REIT) that operates mainly in the eastern part of the United States. Given the drop in the company's projected FFO, it seems like costs will rise faster than the REIT can increase rents as an offset. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. All in, it seems like there should be a lot to like about this office REIT. And the skyrocketing rates show no sign of letting up. WebAs a 35-year real estate veteran, Mike has extensive leadership experience in property management, asset management, leasing, acquisitions, dispositions, risk management, property tax, and enhanced life-cycle strategies for major capital expenditures. Included for comparison are two well-known REITs -- Vornado Realty Trustand SL Green Realty -- that are prominent owners of office space in New York City. WebBrendan Maiorana Executive Vice President and Chief Financial Officer Learn More Randy Roberson Senior Vice President, Development Learn More Mike Starchville Senior Vice President, Asset Management Learn More Jeff Miller Executive Vice President, General Counsel and Secretary Learn More Carman Liuzzo Senior Vice President, Investments An LLC addressed to Duy Khuong Ong was the buyer. Key Principal: Theodore J Klinck See more contacts. He is a former president of the American Real Estate and Urban Economics Association. Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. 12 But, even at the low end of 2023 guidance, the FFO payout ratio will only rise to around 55% or so. Prior to joining Highwoods, Mr. Maiorana spent 11 years in equity research at Wells Fargo Securities, starting as an associate equity research analyst. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. These are two examples of REITs that have demonstrated resilience and adaptability to maintain their viability while positioning themselves to adapt to changing demand in their specialized markets. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. As of Mar 31 2023, Highwoods Properties's biggest institutional seller is BROOKFIELD CORP /ON/. We recently rolled out updates to the our members account section of the website. The Company is posting $50 million of earnest money deposits that are non-refundable except in limited circumstances. It operates through the following geographical segments: Atlanta, Charlotte, Nashville, Orlando, Raleigh, Richmond, and Tampa. By 1997, Highwoods had begun expanding beyond their North Carolina roots and acquired properties in Tampa, Florida and Birmingham, Alabama. Down 41%, Should You Buy This Beaten-Down Growth Stock? *Average returns of all recommendations since inception. WebThe Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties in Atlanta's BBDs (best business districts). | Source: Prior to Highwoods, Carman spent four years with KPMG Peat Marwick and then Boddie-Noell Enterprises as Chief Accounting Officer. As of 31 Mar 23, 281 institutions are holding Highwoods Properties's shares, Conference CallToday, Monday, April 19, 2021, at 11:00 A.M. The Motley Fool has a disclosure policy. The company sold -1.12M shares of HIW, valued at -. BS, Architecture and MS, City Planning, Georgia Tech. Prior to that, he spent four years at Ernst & Young LLP as a senior auditor. Mr. Anderson has had an extensive career in banking, finance, investment management and real estate. Marc Rapport has positions in Alexandria Real Estate Equities and Highwoods Properties. We are extremely fortunate to have Brendan become our new CFO. representing 3.26% of its total assets. WebHighwoods Properties (HIW) ownership report 2023. The company owns 278.51K shares of Highwoods Properties (HIW), SWOT Analysis. She holds a B.S. Source: FactSet. Carman leads the Companys Investment Group. Prior to joining Crescent, Brian held senior management and executive positions with Jacoby Development, Inc., Atlanta Beltline, Inc., AIG Global Real Estate, Atlantic Station, LLC and Central Atlanta Progress. Highwoods Properties reported funds from operations (FFO), which is like earnings for a REIT, of $4.03 in 2022, up from $3.86 in 2021. Armour Yards is a multi-building creative office project located between Atlantas Buckhead and Midtown submarkets and along the future Beltline extension. WebRALEIGH, N.C., April 20, 2023 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) announces its Board of Directors has declared a cash dividend of $0.50 currently valued at $404.12M. Two that I like right now are Highwoods Properties (HIW 0.21%) and Alexandria Real Estate Equities (ARE 0.11%). Ted has a strong focus on sourcing core, value-add and opportunistic real estate investments in high growth markets, particularly in the Sunbelt, and has overseen the closing of more than $15 billion worth of transactions over the last 10 years. We recently rolled out updates to the our members account section of the website. The Company 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. About Highwoods Properties Inc. Highwoods Properties, Inc. operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. 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 WebThe average household income in the Highwoods Road area is $145,996. These statements are distinguished by use of the words will, expect, intend, plan, anticipate and words of similar meaning. The building was 91% leased at December 31, 2020 with a current weighted average lease term of 5.8 years. Highwoods Properties, Inc. (HIW) is owned by institutional investors, mutual funds, and individual investors. *Average returns of all recommendations since inception. Previously, Mr. Anderson spent 27 years at Bank of America as President of Bank of America South Carolina and head of its Carolinas Business Banking group. Cost basis and return based on previous market day close. Highwoods Properties develops and owns high-end offices in what it calls the "best business districts" in such Sunbelt boom towns as Atlanta, Dallas, Nashville, Orlando, and Charlotte. They have been great to work with and we look forward to closing the transaction, Mr. Klinck added. City, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, Tampa and the Triad. Elevated rates imply high borrowing costs for the company, affecting its ability to purchase or develop real WebHighwoods Properties Leases 60,800 Square Feet at Highwoods Preserve to MetLife; 100% of the Preserve is Leased or Sold to Owner Occupants 11/01/2005 Highwoods Tickergate is an advanced stock research & comparison platform for informed data-driven investment decisions. And the skyrocketing rates show no sign of letting up. Ted Klinck, President and CEO, stated, The portfolio of properties from PAC fits perfectly with our existing BBD strategy and footprint. Ms. Carlton joined Highwoods in 2007. Non-Core AssetsThe mezzanine loan is part of the financing structure used by a third party to construct 8West, a 195,000 square foot, 9-story office building on the western side of the Georgia Tech campus in Midtown Atlanta. Just go in knowing that 2023 will not be a good year. A live, listen-only webcast and a subsequent replay can be accessed through the Companys website at www.highwoods.com under the Investors section. Source: Kantar Media, President, Chief Executive Officer & Director, First Tee - Triangle, Highwoods Properties, Inc., Highwoods Realty LP, Chief Operating Officer & Executive Vice President, Chief Financial Officer & Executive Vice President, Total Insider Purchases and Sales Reported to the SEC, Vanguard US Total Market Shares Index ETF, Vanguard Institutional Total Stock Market Index Trust. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. RALEIGH, N.C., Jan. 06, 2022 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) and Brand Properties, LLC have formed a joint venture to WebHighwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 It owns, develops, acquires, and operates office, retail, and industrial properties, with a primary focus on high-growth markets. Updated Nov 10, 2020, 3:24pm EST. 200 Founded In 1978 Website www.highwoods.com Organization Type Public CEO Theodore J. Klinck Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods Properties is a Sun Belt office landlord. Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust The Company can provide no assurances, however, that it will dispose of any assets on favorable terms, or at all, because the dispositions are subject to the negotiation and execution of sale agreements and would then be subject to the buyers completion of satisfactory due diligence and other customary closing conditions. Choosing a selection results in a full page refresh. WebHighwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust ("REIT") and a member of the S&P MidCap 400 Allman Spry Davis Leggett & Crumpler, P.A. WebHighwoods Properties is a real estate investment trust which owns, develops, acquires, leases and manages properties primarily in business districts. View who owns apple now - institutional shareholders, mutual fund holders, and insiders. ET, Highwoods will host a conference call to discuss the matters highlighted in this press release. The Company is a fully-integrated REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Kansas. Ted has 26 years of extensive real estate experience, and prior to joining Goddard Investment, he spent 16 years with Morgan Stanley Real Estate, including its predecessor companies Lend Lease and Equitable Real Estate. We are very appreciative of the entire team at PAC who have worked so collaboratively alongside us on this transaction. If you have an existing account, please opt to reset your password before logging in. Potential bargains are there for those willing to take on the risk at current, lower prices. The company purchased 882.64K stocks of HIW, A copy of the report can be accessed by clicking on the link below and on the Companys website at www.highwoods.com. Factors that could cause actual results to differ materially from Highwoods' current expectations include, among others, the following: closing of the planned acquisition of a portfolio of office assets from PAC may not occur on the terms described in this press release or at all; buyers may not be available and pricing may not be adequate with respect to the planned dispositions of non-core assets; comparable sales data on which we based our expectations with respect to the sales price of the non-core assets may not reflect current market trends; anticipated G&A expense savings may not be realized; the financial condition of our customers could deteriorate; development activity by our competitors in our existing markets could result in excessive supply of properties relative to customer demand; development, acquisition, reinvestment, disposition or joint venture projects may not be completed as quickly or on as favorable terms as anticipated; we may not be able to lease or re-lease second generation space quickly or on as favorable terms as old leases; our markets may suffer declines in economic growth; we may not be able to lease our newly constructed buildings as quickly or on as favorable terms as originally anticipated; unanticipated increases in interest rates could increase our debt service costs; unanticipated increases in operating expenses could negatively impact our NOI; we may not be able to meet our liquidity requirements or obtain capital on favorable terms to fund our working capital needs and growth initiatives or to repay or refinance outstanding debt upon maturity; the Company could lose key executive officers; and others detailed in the Companys 2020 Annual Report on Form 10-K and subsequent SEC reports. For more information about Highwoods, please visit our website at www.highwoods.com. The acquisition, which is subject to customary closing conditions, is scheduled to close during the third quarter of 2021. An LLC addressed to Duy Khuong Change value during other periods is calculated as the difference between the last trade and the most recent settle. The top 10 institutional shareholders own together 60.79% of the company. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the BBDs of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa. Prior to Highwoods, Randy served as a senior project manager at Clancy & Theys Construction Company and as vice president at Benchmark Construction Corporation. Ms. Lloyd was elected to the board in January 2018. There are some very notable drivers here that investors are worried about. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. RALEIGH, N.C., July 27, 2021 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) announced Mark Mulhern, 61, will retire as Chief Financial The good news Highwoods Properties reported funds from operations (FFO), which is like earnings for a REIT, of $4.03 in 2022, up from $3.86 in 2021. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. If you have an existing account, please opt to reset your password before logging in. Previously, he was principal and chief investment officer with Goddard Investment Group in Atlanta. 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 (NYSE: HIW) sold the property at 5000 Falls of Neuse Road for $11 million, according to Wake County deed records. Data may be intentionally delayed pursuant to supplier requirements. The Company expects to return its balance sheet metrics to current levels by mid-2022. The chart above shows how Alexandria and Highwoods share prices have performed in the past five years. Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Invest better with The Motley Fool. Highwoods Properties's largest sold out institutional shareholder by shares sold is BROOKFIELD CORP /ON/, This high-quality portfolio gives us entry into two new BBDs that have long been on our wish list, nearly doubles our presence in Charlotte to 1.6 million square feet and further strengthens our market share in Raleigh. valued at $26.93B. Brendan joined Highwoods in 2016 and spent the previous 11 years in Equity Research at Wells Fargo Securities, starting as an Associate Equity Research Analyst. ET(800) 756-3565 or www.highwoods.com_________________________________________. Previously, he was a partner with DLA Piper US LLP and Alston & Bird LLP. MBA, University of North Carolina at Chapel Hill. As of 31 Mar 23, Highwoods Properties is held by 95.90% institutional shareholders, Access your saved properties and searches via your dashboard. CAPTRUST Tower Raleigh (North Hills)CAPTRUST Tower is a 16-story, Class A office tower located in the heart of Raleighs vibrant mixed-use North Hills submarket, a new BBD for Highwoods. Cost basis and return based on previous market day close. As of Mar 31 2023, Highwoods Properties's largest institutional buyer is FRANKLIN RESOURCES INC. Mr. Anderson serves on the Board of Directors Triumph Savings Bank (NASDAQ:TBK). So financing costs are going up, which is not a good thing. Highwoods Properties, Inc. operates as a real estate investment trust, which engages in the operation, acquisition and development of rental office properties. 100% customizable, institutional-grade data, easy to use. As of Mar 2023, VANGUARD GROUP INC holds 16.78M shares of Highwoods Properties (HIW), compromising 15.60% of the company, valued at $389.15B. 2023 (a -10.99% decrease).