Highwoods Properties, Inc. reported significant financial performance improvements in its latest quarterly filing for the period ending June 30, 2026. The company recorded rental and other revenues of $216.4 million, a 7.9% increase from $200.6 million in the same period last year. Net income available for common stockholders surged to $93.5 million, or $0.85 per share, compared to $18.3 million, or $0.17 per share, in the prior year. For the first half of 2026, total revenues reached $430.4 million, up from $401.0 million in 2025, while net income increased to $130.1 million from $119.2 million.

The company experienced notable changes in its operational metrics, with average occupancy in its office portfolio rising from 85.3% at the end of 2025 to 85.7% by June 30, 2026. This increase is attributed to successful leasing efforts and the impact of property acquisitions in key markets such as Raleigh, Charlotte, and Dallas. Additionally, Highwoods completed significant property dispositions, including a Nashville building and land in Richmond, generating gains of $79.0 million during the quarter.

Strategically, Highwoods has been active in enhancing its portfolio through acquisitions and development projects. The company announced plans to commence up to $400 million in new developments and acquire properties worth up to $250 million in the latter half of 2026. Furthermore, the Board of Directors authorized a stock repurchase program of up to $250 million, which the company intends to fund through proceeds from non-core asset sales and available cash.

Operationally, Highwoods reported a total of 110.3 million shares of common stock outstanding as of July 21, 2026. The company’s cash and cash equivalents increased significantly to $145.4 million, up from $27.4 million at the end of 2025. The company also maintained a strong liquidity position with an unused capacity of $749.9 million on its revolving credit facility. Looking ahead, Highwoods anticipates continued revenue growth driven by its strategic initiatives and a favorable market environment, with expectations for average occupancy to range between 86.0% and 87.0% for the remainder of 2026.

About HIGHWOODS PROPERTIES, INC.

Highwoods Properties, Inc. is a fully integrated real estate investment trust (REIT) specializing in owning, developing, leasing, and managing office properties primarily in major U.S. business districts. Its portfolio focuses on high-quality workplaces in vibrant markets, offering competitive leasing services and sustainable, environmentally resilient buildings. The company emphasizes long-term value creation through strategic acquisitions, development, and operational excellence in the office real estate sector.

This description was generated via AI from an annual report. Updated about 1 year ago.

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