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Last $42.33 USD
Change Today +0.40 / 0.95%
Volume 736.1K
As of 8:04 PM 07/31/15 All times are local (Market data is delayed by at least 15 minutes).

highwoods properties inc (HIW) Snapshot

Previous Close
Day High
Day Low
52 Week High
02/3/15 - $48.34
52 Week Low
09/25/14 - $38.42
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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highwoods properties inc (HIW) Details

Highwoods Properties, Inc. is a real estate investment trust. The trust engages in leasing, management, development, construction, and other customer-related services for its properties and for third parties. It invests in the real estate markets of United States. The trust’s portfolio includes office, industrial, and retail properties. Highwoods Properties was founded in 1978 and is based in Raleigh, North Carolina.

432 Employees
Last Reported Date: 02/10/15
Founded in 1978

highwoods properties inc (HIW) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $756.7K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $112.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $442.3K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $332.0K
Chief Investment Officer and Senior Vice Pres...
Total Annual Compensation: $325.8K
Compensation as of Fiscal Year 2014.

highwoods properties inc (HIW) Key Developments

Highwoods Properties Inc. Amends Unsecured Bank Term Loan

Highwoods Properties Inc. amended $225.0 million, seven-year unsecured bank term loan, which was scheduled to mature in January 2019. The company increased the borrowed amount to $350.0 million and used the $125.0 million of incremental new proceeds to repay amounts outstanding under $475.0 million unsecured revolving credit facility. The amended term loan is now scheduled to mature in June 2020 and the interest rate, based on current credit ratings, was reduced from LIBOR plus 175 basis points to LIBOR plus 110 basis points. The financial and other covenants under the amended term loan are unchanged.

Highwoods Properties Seeks Acquisitions

Highwoods Properties Inc. (NYSE:HIW) is looking for acquisitions. Ed Fritsch, President and Chief Executive Officer of Highwoods Properties, said, "We are pleased to recast and extend this unsecured bank term loan and appreciate the continued confidence shown in Highwoods by our participating lending partners. We proactively decided to increase the size of the new term loan, further strengthening our ability to capitalize on development and acquisition opportunities."

Highwoods Properties Inc. to Develop 12-Story Tower in Cumberland Galleria

Highwoods Properties Inc. is starting construction on a 12-story tower in the Cumberland Galleria and already reached agreements with two firms, Bennett Thrasher LLP and Holder Construction, to lease the building. Highwoods will invest $105 million in the project, which marks the long-planned second tower in Riverwood. Highwoods acquired the Riverwood 100 tower in 2011 and has since brought it to 94% occupied. Riverwood 200 would be the second project to get underway before year's end, most likely breaking ground in the third quarter. The catalyst is SunTrust Park, a ballpark for the Atlanta Braves that would be surrounded by office buildings, stores, restaurants, and at least one hotel. Comcast Corp. is already set to anchor a new 9-story building in SunTrust Park, which will open in April 2017. The developers want to complete the project by mid-2017. Already almost 40% leased, Riverwood 200 could get rents starting at $37 a foot. Architect Cooper Carry is designing the building, the same firm that is working on the more than 2 million-square-foot State Farm Insurance Co. campus in Dunwoody.


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Industry Average

Valuation HIW Industry Range
Price/Earnings 34.6x
Price/Sales 6.4x
Price/Book 2.6x
Price/Cash Flow 12.6x
TEV/Sales 2.7x

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