Highwoods Properties(HIW)
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Highwoods Properties(HIW) - 2023 Q1 - Quarterly Report
2023-04-25 20:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from [ ] to [ ] HIGHWOODS PROPERTIES, INC. (Exact name of registrant as specified in its charter) Maryland 001-13100 56-1871668 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) HIGHWOODS REALTY LIMITED PARTNERSHIP (State or other jurisdiction o ...
Highwoods Properties(HIW) - 2022 Q4 - Earnings Call Presentation
2023-02-22 20:11
2827 Peachtree* 2025 Stabilization 135K Square Feet $40M Investment 75% Leased $12M Investment Four Morrocroft 2024 Stabilization 18K Square Feet 100% Leased DEVELOPMENT PIPELINE HIW | 4Q22 DEVELOPMENT PIPELINE HIW | 4Q22 IN-PROCESS DEVELOPMENT 2023 2024 2025 2026 2027 2028 GL III 2827* GP6* Four Morrocroft MTE* 2827* 23Springs * GP6* GL III MTE* 23Springs * $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 2023 2024 2025 2026 2027 2028 Development Development Compl ...
Highwoods Properties(HIW) - 2022 Q4 - Earnings Call Transcript
2023-02-08 22:27
Highwoods Properties, Inc. (NYSE:HIW) Q4 2022 Earnings Conference Call February 8, 2023 11:00 AM ET Company Participants Hannah True - Investor Relations Ted Klinck - Chief Executive Officer Brian Leary - Chief Operating Officer Brendan Maiorana - Chief Financial Officer Conference Call Participants Camille Bonnel - Bank of America Blaine Heck - Wells Fargo Georgi Dinkov - Mizuho Rob Stevenson - Janney Dave Rodgers - Baird Dylan Burzinski - Green Street Peter Abramowitz - Jefferies Operator Good morning an ...
Highwoods Properties(HIW) - 2022 Q4 - Annual Report
2023-02-07 21:05
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 HIGHWOODS REALTY LIMITED PARTNERSHIP (Exact name of registrant as specified in its charter) North Carolina 000-21731 56-1869557 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 150 Fayetteville Street, Suite 1400 Raleigh ...
Highwoods Properties(HIW) - 2022 Q3 - Earnings Call Transcript
2022-10-26 20:58
Highwoods Properties, Inc. (NYSE:HIW) Q3 2022 Earnings Conference Call October 26, 2022 11:00 AM ET Company Participants Hannah True – Investor Relations Ted Klinck – Chief Executive Officer Brian Leary – Chief Operating Officer Brendan Maiorana – Chief Financial Officer Conference Call Participants Blaine Heck – Wells Fargo Jeff Spector – Bank of America Michael Griffin – Citi Rob Stevenson – Janney Montgomery Scott Ronald Kamdem – Morgan Stanley Dave Rodgers – Baird Tom Catherwood – BTIG Operator Greeting ...
Highwoods Properties(HIW) - 2022 Q2 - Earnings Call Transcript
2022-07-28 02:30
Highwoods Properties, Inc. (NYSE:HIW) Q2 2022 Earnings Conference Call July 27, 2022 11:00 AM ET Company Participants Hannah True - Investor Relations Ted Klinck - Chief Executive Officer Brian Leary - Chief Operating Officer Brendan Maiorana - Chief Financial Officer Conference Call Participants Jamie Feldman - Bank of America Rob Stevenson - Janney Montgomery Scott Michael Griffin - Citi Blaine Heck - Wells Fargo David Rodgers - Baird Tayo Okusanya - Credit Suisse Daniel Ismail - Green Street Advisors Op ...
Highwoods Properties(HIW) - 2022 Q1 - Earnings Call Transcript
2022-04-27 19:50
Highwoods Properties, Inc. (NYSE:HIW) Q1 2022 Earnings Conference Call April 27, 2022 11:00 AM ET Company Participants Hannah True - Manager of Finance and Corporate Strategy Ted Klinck - President and CEO Brian Leary - COO Brendan Maiorana - CFO Conference Call Participants Vikram Malhotra - Mizuho Securities Blaine Heck - Wells Fargo Rob Stevenson - Janney Montgomery Scott Manny Korchman - Citigroup Ronald Kamdem - Morgan Stanley Michael Lewis - Truist Securities Operator Good morning. And welcome to ...
Highwoods Properties (HIW) Investor Presentation - Slideshow
2022-03-23 14:21
| Highwoods . QUALITY. RESILIENCY. GROWTH. SAFE HARBOR 2 Some of the information in this presentation may contain forward-looking statements. Such statements include, in particular, statements about our plans, strategies and prospects such as the following: the planned sales of non-core assets and expected pricing and impact with respect to such sales, including the tax impact of such sales; the expected financial and operational results and the related assumptions underlying our expected results, including ...
Highwoods Properties(HIW) - 2021 Q4 - Earnings Call Transcript
2022-02-09 20:54
Financial Data and Key Metrics Changes - The company reported FFO of $1.06 per share for Q4 2021, including $0.09 from land sale gains, with a full-year FFO of $3.77 per share, exceeding the high-end of the revised outlook by $0.01 [12][39] - Same property cash NOI growth was 3.2% for the quarter and 5.5% for the year, with year-end occupancy reaching 91.2% [13][29] - The company achieved a debt-to-EBITDA ratio of 5.4x, down from 5.6x at the end of Q3 2021 [15][41] Business Line Data and Key Metrics Changes - The company acquired $800 million in high-quality office buildings and completed $356 million in office development, with a 92% lease rate [9][24] - The development pipeline stands at $283 million, with 51% pre-leased [17] - The company signed 194 new second-generation leases totaling 1.1 million square feet in 2021, the highest since 2006 [24] Market Data and Key Metrics Changes - The company noted positive net absorption in markets such as Atlanta, Raleigh, Nashville, and Charlotte, with Raleigh experiencing significant demand for tech and life science jobs [31][32] - Tampa was highlighted as the top housing market for 2022, with office rents increasing by 7% [33] - The company reported a modest increase in occupancy, with expectations for further growth in the latter half of 2022 [29][70] Company Strategy and Development Direction - The company aims to generate sustainable returns by developing and acquiring high-quality office buildings in Best Business Districts (BBDs) [8] - A focus on capital recycling has led to the sale of $1 billion in non-core properties and the acquisition of $1.3 billion in high-quality assets over the past three years [47] - The company plans to sell $150 million to $200 million of non-core assets to return balance sheet metrics to pre-acquisition levels [22][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's long-term growth prospects, citing strong leasing activity and a resilient portfolio [11][25] - The anticipated gradual increase in portfolio utilization throughout 2022 was highlighted, with expectations for same property cash NOI growth of 0% to 2% [21][44] - Management acknowledged the competitive acquisition market, with cap rates for high-quality assets remaining low [65][66] Other Important Information - The company has a land bank capable of supporting $2.3 billion in future office developments and nearly $2 billion in mixed-use developments [20] - The company is focused on maintaining a strong balance sheet while investing in growth opportunities [41][47] Q&A Session Summary Question: Can you talk about the operating expense guidance and what's driving the increase this year? - Management explained that operating expenses are expected to normalize in 2022, with a significant portion of leases being full-service gross leases, impacting recoveries [52][54] Question: What are your expectations for AFFO or FAD during the year in 2022? - Management indicated that cash flow tends to be more volatile than FFO, but strong cash flow growth over the past few years supports healthy distributions [57][59] Question: Can you provide color on your expectations for acquisitions and dispositions? - Management noted that they have not yet contracted any of the planned dispositions but are confident in achieving the target by mid-year [84][86] Question: How does the company view the competitive landscape for acquisitions? - Management highlighted that high-quality assets are in high demand, with cap rates remaining competitive, particularly for new buildings [65][66] Question: What are your thoughts on tenant retention and the expiration schedule? - Management expects a lower retention ratio this year but noted that there are not many large expirations, which should mitigate risks [67][70]
Highwoods Properties(HIW) - 2021 Q3 - Earnings Call Transcript
2021-10-27 20:35
Highwoods Properties, Inc. (NYSE:HIW) Q3 2021 Results Conference Call October 27, 2021 11:00 AM ET Company Participants Brendan Maiorana - SVP, Finance & IR Ted Klinck - CEO Brian Leary - COO Mark Mulhern - CFO Conference Call Participants Rob Stevenson - Janney Dave Rodgers - Baird Ronald Kamdem - Morgan Stanley Jamie Feldman - Bank of America Operator Good morning, and welcome to the Highwoods Properties Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded, Wednesday, Oc ...