Financial Stocks Broadly Lower in Late Trade; Highwoods Properties Buys Two Office Towers, Sells Another


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Financial stocks are closing lower today with the NYSE Financial Sector Index declining 1.1% and the S&P Financial 100 Index slipping 1.0%.

In company news, Highwoods Properties ( HIW ) is ending slightly lower today with shares of the real estate investment trust falling 0.7% to $33.19 each and the company announcing a deal to acquire the 57% interest stale in two Atlanta office buildings previously owned by its partner in the joint venture for $45.4 million.

The buildings are the Glenlake North and South Towers, two 10-story office buildings with structured parking. The properties are valued at a combined $80.6 million and are 82% leased, projected to generate FY13 cash and GAAP net operating income of $5.1 million and $6 million, respectively. HIW said about $200,000 of the acquisition costs will be expensed in Q3.

The company today also said it is selling Anchor Plaza, a 2-story, 98,000-square-foot office building in Tampa for $11.6 million, recording a non-funds from operations gain of $1.2 million.

In other sector news,

(+) ICE, Together with CME Group ( CME ), reportedly considering taking part in a new trade body now taking shape to resolve issues over new derivatives data warehouses mandated by global regulations, according to the Financial Times.

(-) AFL, Hires Daniel Lebish to be Chief Operating Officer of its AFLAC Group Insurance unit. He most recently was an executive vice president at Highmark Blue Cross-Blue Shield.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
More Headlines for: CME , HIW

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