Highwoods Properties, Inc. (NYSE: HIW) spotted trading -17.37% off 52-week high price. On the other end, the stock has been noted 15.85% away from the low price over the last 52-weeks. The stock changed 1.73% to recent value of $42.97. The stock transacted 789848 shares during most recent day however it has an average volume of 588.4K shares. The company has 103.87M of outstanding shares and 102.02M shares were floated in the market.
Highwoods Properties, Inc. (NYSE: HIW) announced Ed Fritsch, 60, will retire as Chief Executive Officer and member of the Board of Directors effective September 1, 2019. Ted Klinck, 53, who currently serves as President and Chief Operating Officer, will assume the role of CEO and director upon Mr. Fritsch’s retirement.
Mr. Fritsch, who first joined Highwoods in 1982 at the age of 23, was a partner in the predecessor firm before its IPO in June 1994. Mr. Fritsch served as the Chief Operating Officer of Highwoods from January 1998 to July 2004 and was Vice President of Operations and Secretary from June 1994 to January 1998. He joined the Board in 2001, became the Company’s President in December 2003 and CEO in July 2004. Mr. Fritsch recently concluded a seven-year term on the executive board of the National Association of Real Estate Investment Trusts (“NAREIT”), including serving as its chair in 2016.
As part of the Company’s long-term succession planning activities and upon Mr. Fritsch’s recommendation, the Company’s Board of Directors has appointed Mr. Klinck as President, CEO and director effective September 1, 2019. Mr. Klinck has served as President since November 2018 and Chief Operating Officer of Highwoods since September 2015. Prior to that, Mr. Klinck served as the Company’s Senior Vice President and Chief Investment Officer. Before joining Highwoods in March 2012, Mr. Klinck served as principal and chief investment officer with Goddard Investment Group, a privately-owned real estate investment firm. Previously, Mr. Klinck had been a managing director at Morgan Stanley Real Estate.
Its earnings per share (EPS) expected to touch remained -8.00% for this year while earning per share for the next 5-years is expected to reach at 8.00%. HIW has a gross margin of 65.80% and an operating margin of 26.10% while its profit margin remained 20.20% for the last 12 months.
The price moved ahead of -1.09% from the mean of 20 days, -2.10% from mean of 50 days SMA and performed -2.97% from mean of 200 days price. Company’s performance for the week was 1.20%, -1.20% for month and YTD performance remained 11.06%.
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