This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Highwoods Properties Offers 5.8 Million Shares

RALEIGH, N.C. (AP) ¿ Highwoods Properties Inc., a real estate investment trust that owns property in the southeastern U.S., said Tuesday that it is offering 5.8 million common shares to the public.

Highwoods said it plans to use net proceeds from the offering to repay debt and for general corporate purposes.

Merrill Lynch, Wachovia Securities and Morgan Stanley will serve as the joint book-running managers for the offering. The underwriters will have a 30-day option to buy up to 870,000 additional shares to cover any overallotments.

Highwoods' shares jumped $1.47, or 6.7 percent, to close at $23.32, rising with many stocks in a widespread rally in U.S. stock markets. In after-hours trading, following the announcement of the offering, the company's stock fell $1.26, or 5.4 percent, to $22.06.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
HIW $45.30 0.00%
MS $37.36 0.00%
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs