Highwoods Properties, Inc. HIW

30.09 0.08 0.27% as of 25 Sep
Market cap
$3.3B
P/E
19.8×
Growth Flags show if company had growth for consecutive years

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.31%

Capital & Financial Ratios

Market Cap 3,310.00
Revenue 835.54
Net Income 173.55
Free Cash Flow (107.94)
Net Debt 3,349.58
Current Ratio 1.68
Debt/Equity 1.36
P/E ratio 19.83
P/S ratio 3.98
P/B ratio 1.30
Past 5Y EPS Growth (6.23%)
This Y EPS Growth (7.53%)
Next Y EPS Growth (48.88%)
Next 5Y EPS Growth (21.93%)
in millions of $

Dividends

Payout Ratio 1.38
Annual Dividend Rate 2.00
Annual Dividend Yield 8.33%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 2.00
0.50
0.50
0.50
2025 2.00
0.50
0.50
0.50
0.50
2024 2.00
0.50
0.50
0.50
0.50
2023 2.00
0.50
0.50
0.50
0.50
2022 2.00
0.50
0.50
0.50
0.50
2021 1.96
0.48
0.48
0.50
0.50
2020 1.92
0.48
0.48
0.48
0.48
2019 1.90
0.48
0.48
0.48
0.48
2018 2.31
0.46
0.46
0.46
0.46
0.46
2017 1.76
0.44
0.44
0.44
0.44
2016 1.70
0.43
0.43
0.43
0.43
0.80
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 32 34 43 166
Receivables 339 337 346 336
Inventory — — — —
Other — — — —
375 382 402 515
2023 2024 2025 Q'26
Payables 302 305 284 306
ST’ Debt — — — —
Other — — — —
302 305 284 306
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 2.92% 1.81% (0.93%)
Cash Flow 2.20% 0.06% (5.21%)
Earnings 5.22% (14.54%) 0.14%
Book Value 3.94% 0.21% (1.57%)

Revenue

Mar Jun Sep Dec Year
’26 214 216 — — —
’25 200 201 202 203 806
’24 211 205 204 206 826
’23 213 207 207 207 834
’22 206 204 207 212 829
’21 184 186 195 203 768
’20 193 183 181 180 737
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 63 125 — — —
’25 46 117 97 100 359
’24 72 130 97 104 404
’23 66 115 103 103 387
’22 74 128 118 102 422
’21 83 114 112 105 415
’20 64 117 95 83 358
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (257) 320 — — —
’25 10 69 (56) (114) (92)
’24 48 145 54 18 265
’23 10 97 59 93 260
’22 25 150 (112) 23 85
’21 56 89 (86) 204 263
’20 294 19 49 117 479
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.29 0.85 — — —
’25 0.91 0.17 0.12 0.26 1.45
’24 0.25 0.59 0.14 (0.03) 0.94
’23 0.42 0.40 0.21 0.36 1.39
’22 0.38 0.47 0.36 0.26 1.49
’21 0.52 0.57 0.69 1.19 2.98
’20 1.79 0.36 0.39 0.79 3.32
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
38.08 48.42 37.09 37.59 25.10 36.90 24.51 17.06 21.37 24.19

Analyst estimates 2026–2028

Powerpack
Low Price
56.23 53.34 52.00 49.04 52.76 48.98 47.44 31.88 36.78 32.76
High Price
438 441 442 431 359 348 345 349 350 315
Employees
2 2 2 2 2 2 2 2 2 3
Revenue/Emp
666 703 720 736 737 768 829 834 826 806
Revenue
65.28% 66.29% 66.33% 66.23% 68.54% 69.21% 68.66% 67.77% 67.04% 67.58%
Gross Margin
123 192 178 142 358 323 164 151 104 163
EBT
18.41% 27.27% 24.67% 19.25% 48.57% 42.10% 19.78% 18.15% 12.62% 20.18%
EBT Margin
541 192 178 142 358 323 164 151 104 163
Net Income
224 232 230 257 244 263 292 305 306 303
Depreciation
6.76 6.84 6.96 7.10 7.09 7.37 7.89 7.90 7.78 7.43
Revenue/Sh
5.30 1.78 1.64 1.30 3.32 2.98 1.49 1.39 0.94 1.45
Earnings/Sh
3.11 3.43 3.47 3.53 3.45 3.98 4.01 3.67 3.80 3.31
Cash Flow/Sh
2.28 (1.92) (2.92) (5.78) 1.17 (1.45) (3.20) (1.20) (1.31) (4.16)
Capex/Sh
5.38 1.52 0.55 (2.25) 4.61 2.53 0.81 2.46 2.49 (0.85)
Free CF/Sh
21.88 21.79 21.89 20.97 22.70 23.98 23.77 23.10 22.28 21.97
Book Value/Sh
98 103 103 104 104 104 105 106 106 108
Shares
9.55 28.53 23.74 37.62 11.90 15.01 18.99 16.78 32.26 17.68
PE Ratio
7.60 7.42 5.56 6.89 5.59 6.05 3.56 2.95 3.93 3.47
PS Ratio
2.38 2.36 1.79 2.36 1.77 1.88 1.20 1.02 1.39 1.19
PB Ratio
10.40 10.16 8.44 10.33 8.68 9.64 7.39 6.77 7.88 7.83
EV/Sales
13.07 45.85 107.21 (32.51) 13.35 28.12 71.74 21.72 24.58 (68.72)
EV/FCF
306 353 359 366 358 415 422 387 404 359
Op' Cash Flow
224 (197) (302) (600) 121 (151) (336) (127) (139) (451)
Capex
530 156 57 (234) 479 263 85 260 265 (92)
FCF
(36) 91 43 (13) 209 20 45 73 77 118
Working Cap'
1,948 2,014 2,086 2,544 2,470 2,789 3,197 3,213 3,294 3,554
Total Debt
1,869 1,926 2,076 2,529 2,281 2,758 3,171 3,182 3,260 3,511
Net Debt
2,154 2,237 2,264 2,174 2,358 2,500 2,499 2,438 2,365 2,383
Sh' Equity
11.54% 3.98% 3.64% 2.74% 6.67% 5.70% 2.66% 2.42% 1.66% 2.56%
ROA
2.74% 2.96% 2.98% 2.43% 2.97% 2.76% 2.23% 2.48% 2.09% 2.13%
ROIC
28.09% 8.44% 7.62% 6.14% 15.42% 12.95% 6.34% 5.99% 4.20% 6.70%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Highwoods Properties, Inc. (HIW) key facts

  • Highwoods Properties, Inc. (HIW) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
  • Highwoods Properties, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $806.1 million, down 2.39% from fiscal 2024.
  • Net income was $162.7 million, or $1.45 per share (basic), a net margin of 19.5%.
  • As of September 25, 2026, HIW traded at $30.09, a market capitalization of $3.3 billion.
  • At that price the stock trades at 19.8× trailing-twelve-month earnings and 4.0× sales.
  • Highwoods Properties, Inc. pays an annual dividend of $2.00 per share, a yield of 8.33%, with a payout ratio of 137.9%.
  • Return on equity was 6.70% and debt-to-equity 1.36.

Source: company filings (standardised) and stockrow calculations.

Highwoods Properties, Inc. (HIW) Latest News

News by impact score

Fine-tune

27 Aug

3

Highwoods Properties (HIW) shares dropped 8.4% since the latest earnings report as investors reacted to results and outlook. Post-earnings stock decline signals moderate near-term pressure on valuation and sentiment without altering long-term trajectory.

30 Jul

3

Highwoods Properties' Uptown tallest tower nears full occupancy after new leases signed by a law firm and an AI company. New leases raise occupancy and revenue outlook for a major Highwoods asset.

3 transcript

Highwoods Properties Q2 earnings call highlighted financial results, leasing metrics, occupancy rates, and forward guidance for the REIT's office portfolio. Q2 earnings data and guidance can moderately shift near-term investor sentiment and valuation for HIW.

29 Jul

4

HIW beat Q2 FFO estimates on leasing activity and rent growth while raising its 2026 outlook. Beating estimates with raised 2026 guidance points to stronger leasing momentum and higher earnings trajectory.

28 Jul

3

Highwoods Properties (HIW) exceeded Q2 FFO and revenue estimates. Quarterly estimate beats provide modest short-term support to investor sentiment and share price without altering long-term trajectory.

14 May

4

Highwoods Properties (HIW) sold Bridgestone Tower for $255 million. Post-sale valuation analysis reveals HIW stock trades at a 20-30% discount to intrinsic value, bolstered by improving office fundamentals, debt reduction potential, and development pipeline. The $255 million Bridgestone Tower sale reshapes HIW's portfolio, enhances liquidity, and drives revaluation amid recovering office markets.

12 May

3

Highwoods Properties, Inc. (HIW) sold Bridgestone Tower in Nashville's Central Business District. Property sale impacts Highwoods' balance sheet with cash influx but reduces future rental revenue.

30 Apr

4

Highwoods Properties (HIW) Q1 earnings call highlights key financial results, leasing metrics, operational updates, and forward guidance. Q1 earnings call highlights reveal financial performance and outlook that significantly influence HIW's stock trajectory and investor sentiment.

4

Highwoods Properties Inc (HIW) reported strong leasing performance in Q1 2026 earnings call highlights, alongside positive occupancy gains and strategic updates. Strong leasing and occupancy improvements signal significant revenue growth and enhanced market positioning for HIW.

29 Apr

3

Highwoods Properties (HIW) Q1 FFO met analyst estimates, with revenues exceeding expectations driven by rent growth. Q1 FFO meeting estimates and revenues beating on rent growth supports steady financials and positive momentum without transformative shifts.

3

Highwoods Properties, Inc. released Q1 2026 earnings call summary, reporting key financial metrics, occupancy rates, rental revenues, FFO per share, and updated full-year guidance amid stabilizing office market conditions. Quarterly earnings reveal financial performance and outlook, moderately influencing investor sentiment and stock trajectory.

3

Highwoods Properties (HIW) narrative shifts positively as price targets ease and risks get repriced lower. Eased targets and repriced risks moderately influence HIW's financial performance and investor sentiment.

28 Apr

4

Highwoods Properties launches $100 million share buyback and maintains quarterly dividend, straining cash reserves amid office REIT sector challenges with high vacancies and remote work trends. Buyback and dividend moves represent major capital allocation decisions that test liquidity and could significantly sway investor sentiment and stock trajectory.

3

Highwoods Properties, Inc. (HIW) announces availability of First Quarter 2026 results. Quarterly results availability affects financial performance and investor sentiment.

22 Apr

4

Highwoods Properties, Inc. (HIW) announced a $250 million common stock repurchase program. $250M repurchase program signals confidence, reduces shares outstanding, boosts EPS, and positively influences investor sentiment.

15 Feb

4

Highwoods Properties (HIW) valuation reviewed after launching US$300 million equity program and updating Sunbelt outlook. US$300 million equity program enables major capital deployment for growth amid positive Sunbelt market outlook.

11 Feb

4 transcript

Highwoods Properties, Inc. reported its Q4 earnings, highlighting strong performance metrics and strategic initiatives aimed at enhancing portfolio value. The company emphasized its commitment to sustainable growth and outlined plans for future developments. Management expressed confidence in navigating market challenges while maintaining a focus on tenant satisfaction and operational efficiency. Significant strategic initiatives and strong performance metrics are likely to influence future market positioning and investor sentiment.

4 transcript

Highwoods Properties, Inc. (HIW) reported its Q4 2025 earnings, highlighting key financial metrics and strategic initiatives. The company showcased growth in revenue and occupancy rates, alongside plans for future developments. Management emphasized their commitment to enhancing shareholder value through effective asset management and strategic acquisitions. The earnings call also addressed market trends and competitive positioning, providing insights into the company's outlook for the upcoming year. Significant strategic initiatives and positive financial performance are likely to influence investor sentiment and the company's trajectory.

4 transcript

Highwoods Properties, Inc. reported its Q4 2025 earnings, highlighting a strong performance driven by increased rental income and occupancy rates. The company announced strategic initiatives aimed at enhancing its portfolio and improving operational efficiency. Management expressed optimism about future growth prospects, citing favorable market conditions and ongoing demand for office spaces. Key financial metrics showed significant year-over-year improvements, reinforcing the company's solid position in the real estate sector. The earnings report indicates significant growth and strategic initiatives that could alter the company's trajectory and investor sentiment.

3

Highwoods Properties, Inc. reported its fourth-quarter funds from operations (FFO) that exceeded analysts' estimates, while revenues fell short of expectations. The company's performance highlights a mixed financial outcome, with FFO showing resilience despite revenue challenges. FFO exceeding estimates indicates financial strength, but revenue miss suggests potential concerns for future growth.

10 Feb

4

Highwoods Properties, Inc. (HIW) reported its fourth-quarter funds from operations (FFO), exceeding analysts' expectations. The company's strong performance reflects effective management and strategic positioning in the real estate market. This positive financial outcome is expected to bolster investor confidence and enhance the company's market standing. Exceeding FFO estimates indicates significant financial strength and could positively influence investor sentiment and market performance.

3

Highwoods Properties, Inc. (HIW) reported its Q4 earnings, revealing key metrics that were compared against Wall Street estimates. The results highlighted the company's performance in various financial areas, including revenue and net income, providing insights into its operational efficiency and market positioning. Analysts are assessing the implications of these results on future performance and investor sentiment. The earnings report indicates moderate influences on financial performance and market sentiment, but overall effects are expected to be balanced by other factors.

3

Highwoods Properties, Inc. reported its Q4 earnings, showcasing a solid performance with increased revenue and improved occupancy rates across its properties. The company highlighted strategic initiatives aimed at enhancing its portfolio and addressing market demands. Management expressed optimism about future growth prospects, citing ongoing investments and a favorable economic environment. Overall, the results reflect a positive trajectory for Highwoods Properties as it navigates the evolving real estate landscape. The earnings report indicates moderate growth and strategic initiatives that may influence financial performance but are balanced by market conditions.

3

Highwoods Properties, Inc. (HIW) has announced the availability of its financial results for the fourth quarter and full year of 2025. The company will provide insights into its performance and strategic direction during this period, which is anticipated to be of interest to investors and stakeholders. The announcement of financial results is expected to moderately influence investor sentiment and provide insights into the company's performance.

23 Jan

3

Highwoods Properties, Inc. (HIW) is navigating a recovering office market as demand for office spaces increases in Q4. The company is focusing on enhancing its portfolio and adapting to evolving tenant needs, which may include flexible leasing options and modern amenities. The overall sentiment in the office REIT sector is improving, driven by a resurgence in demand as companies reassess their office space requirements post-pandemic. Investors are closely monitoring these trends as they could influence future performance and market positioning. The improving demand for office spaces is expected to moderately influence Highwoods Properties' financial performance and competitive positioning.

14 Jan

4

Highwoods Properties, Inc. (HIW) is experiencing a notable shift in pricing following recent gains and the acquisition of the 6Hundred at Legacy Union property. This deal is expected to enhance the company's portfolio and potentially influence its market performance positively. Investors are closely monitoring how these developments will impact HIW's future trajectory and overall market sentiment. The acquisition of a significant property is likely to have a substantial impact on the company's future performance and investor sentiment.

13 Jan

4

Highwoods Properties, Inc. is focusing on acquisitions to enhance its long-term growth trajectory. The company aims to expand its portfolio and capitalize on strategic opportunities in the real estate market, which is expected to strengthen its competitive position and financial performance. Acquisitions are likely to significantly impact the company's growth and market positioning.

4

Highwoods Properties, Inc. has acquired Bloc83 and The Terraces, expanding its portfolio in the commercial real estate sector. This acquisition is part of the company's strategy to enhance its presence in key markets and improve its asset offerings. The deal is expected to contribute positively to Highwoods' growth and operational capabilities. The acquisition of Bloc83 and The Terraces represents a significant strategic move that could enhance Highwoods' market position and financial performance.

12 Jan

4

Highwoods Properties, Inc. announced recent investment activities, including the acquisition of a prime office property in Nashville, Tennessee, for $60 million. The company also disclosed plans for future developments and strategic investments aimed at enhancing its portfolio and market position. These moves are part of Highwoods' ongoing strategy to capitalize on growth opportunities in key markets. The acquisition and strategic investments are likely to significantly impact the company's future performance and market positioning.

27 Nov

4

Highwoods Properties, Inc. reported positive developments that contributed to its stock performance, including strong leasing activity and strategic acquisitions. The company has successfully navigated market challenges, enhancing its portfolio and positioning for future growth. Investors reacted favorably to these updates, reflecting confidence in the company's direction and operational efficiency. Strong leasing activity and strategic acquisitions are likely to significantly impact future performance and investor sentiment.

stockrow.com/HIW · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com