HIW
Highwoods Properties, Inc.25.64
-0.21-0.81%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.87BP/E (TTM)
22.30Basic EPS (TTM)
1.15Dividend Yield
0.08%Recent Filings
8-K
8-K
Highwoods launches $350M notes
Highwoods Realty Limited Partnership announced a $350 million public offering of 5.350% notes due January 15, 2033, on November 4, 2025, with closing expected November 14. The notes, underwritten by Wells Fargo Securities and others, fall under a 1996 indenture with U.S. Bank Trust as trustee. This bolsters the REIT's capital base. No use of proceeds disclosed.
10-Q
Q3 FY2025 results
Highwoods Properties posted Q3 revenues of $201.8M, down 1.2% y/y from $204.3M, while net income slipped to $13.7M from $15.5M, yielding diluted EPS of $0.12 versus $0.14; y/y operating income fell 3.7% (derived) amid a $8.8M impairment on Atlanta assets, yet YTD figures show revenue off 2.8% to $602.8M and EPS up 21.4% to $1.19, buoyed by $87.9M in property gains. Acquisitions of Raleigh's Advance Auto Parts Tower for $137.9M in Q1 and Charlotte's Legacy Union garage for $110.2M in Q3 drove growth, while dispositions including a Richmond building for $16.0M added momentum. Cash stood at $26.3M with $529.9M revolver availability; debt totals $3.4B at 4.44% weighted average rate, no maturities until 2027. Free cash flow not disclosed in the 10-Q. Yet competition in office leasing remains fierce.
8-K
Term loan maturity extended to 2029
Highwoods Properties extended its $200 million unsecured term loan maturity from May 2026 to January 2029, with optional two-year extensions if no defaults occur. The interest rate remains SOFR plus 95 basis points, tied to credit ratings from Moody's or S&P, and could adjust by 2.5 basis points based on greenhouse gas reduction goals. This bolsters liquidity while tying costs to sustainability efforts.
10-Q
Q2 FY2025 results
Highwoods Properties posted Q2 revenue of $200.6M, down 2.0% y/y from $204.7M due to dispositions and lower occupancy, yet the Advance Auto Parts Tower acquisition in Raleigh added $4.0M to offset some losses. Operating income swung to a $52.0M loss from a $56.4M gain y/y, driven by absent $35.0M disposition gains, while net income fell to $19.2M from $64.8M; diluted EPS dropped to $0.17 from $0.59, reconciling cleanly with 109,976 diluted shares. Free cash flow stood at $101.0M for H1 (derived from $162.9M operating cash minus $61.9M capex), supporting $21.2M cash and $602.9M revolver availability against $3.3B debt. The Raleigh buy for $137.9M boosted the portfolio, but Tampa dispositions trimmed exposure. Competition from remote work trends pressures leasing.
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