To: Grommit who wrote (74566 ) 2/6/2024 8:23:36 PM From: Grommit Respond to HIW. In December, I posted my top 2 picks for 2024. HIW was one. Sun belt office reit. They just posted decent 2023 results. Worth a look, my friends...>>> For 2024, the Company expects FFO per share to be in the range of $3.46 to $3.64. . Small occupancy drop expected in 2024 - from 89% now, to 88% avg 2024. Ted Klinck, President and Chief Executive Officer, stated, “We delivered strong financial results and healthy operating performance in the fourth quarter. Our solid full-year results demonstrate the resiliency of our portfolio and our balance sheet and the continued strength of our platform. Leasing activity accelerated during the quarter with the year’s highest quarterly volume of new leasing, and 2024 is off to a similarly strong start. Current conditions in the capital markets have placed a greater emphasis on balance sheet management. We are pleased to have accessed the debt capital markets with a 10-year bond offering and extended our credit facility into early 2029, with no change to the borrowing capacity or the borrowing spread.... our cash flows continue to be resilient even as we absorb the impacts of higher interest rates and temporary downtime on known customer move-outs. Further, we have meaningful upside to cash flow as we continue to sell capital intensive, non-core properties and reinvest in our well-located development pipeline. Over the long run, we believe we are well-positioned given our focus on select BBDs in high-growth markets in the southeast, our ever-improving, high-quality portfolio, our strong balance sheet and our long-stated emphasis on diversification.
