Highwoods Properties, Inc.
The stored financial sources have not been reconciled. Differences can involve reporting periods, currencies, continuing operations or income attributable to different owners. A model rating is withheld until the figures are compared on a consistent basis.
HIW · Price history
Price at last available close
$29.21
−$0.20 (-0.68%) 1M
2026-10-28
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Company & revenue
About Highwoods Properties, Inc.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Highwoods Properties, Inc., based in Raleigh, operates as an S&P MidCap 400 Index constituent. This publicly listed Real Estate Investment Trust (REIT), whose shares trade on the NYSE under the ticker HIW, focuses exclusively on office properties. Highwoods is a comprehensively integrated company, handling all aspects of its real estate portfolio from initial acquisition and development to leasing and day-to-day management.
How they make money
Highwoods Properties is a fully integrated office real estate investment trust (REIT) that generates revenue primarily through the leasing of office space to a diverse range of customers. The company operates, acquires, and develops properties located in best business districts (BBDs) across several U.S. markets, earning income from rental payments and property management services.
Products & services
Ownership, development, acquisition, leasing, and management of office properties located in Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa.
Brands & revenue mix
No separate brand or brand-level revenue disclosure was confirmed in the reviewed sources. This does not mean the company has no brands.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer types
- Commercial office tenantsSource
Customer concentration
The company does not disclose any single customer that accounts for a significant portion of its total rental revenue as of December 31, 2025.
Suppliers, materials & equipment
- Property management and maintenance service providers — Various third-party vendors providing building maintenance, janitorial, and security services for office properties; specific supplier names are unnamed.Source
Strengths
Sources
Company-specific research
Questions worth answering for HIW
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can HIW maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is HIW's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is HIW's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify HIW's current valuation?
- •What does the current financial source inconsistency warning mean for the reliability or interpretation of HIW's score?
Essential Investment Snapshot
Market Cap
$3.22B
EPS
$1.52
52-Week High
$35.44
52-Week Low
$20.45
Beta
1.06
Analyst Target
$32.50
Shares Outstanding
110.6M
Total Debt
$3.52B
Dividend Yield (TTM)
6.85%
Liquidation Value / Share
$23.42
Dividend / Share (TTM)
$2.00
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Neutral / mixed momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for HIW
Detected from reported data — verify before acting.Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Elevated debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Cash covers less than 20% of total debt
Community Sentiment
0 active · 0 total callsNo personal call yet on HIW.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Focus on best business districts (BBDs) in high-growth Sun Belt markets.
- +Fully integrated operating platform.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Debt risk (elevated): Total debt is at least one year of revenue.
- −Interest coverage is below 2x.
- −Cash covers less than 20% of total debt.
- −Economic downturns affecting office space demand.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
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Scores
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Score Changes
Score changes will appear once more historical records are available.
Price vs. Value
OvervaluedCurrent Price
$29.21
Model Intrinsic Value
$13.73
Difference
+$15.48
+112.8% vs IV
Margin of Safety
-112.8%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $835.5M | $806.1M | $825.9M | $834.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $274.0M | $261.4M | $272.2M | $268.8M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $561.6M | $544.7M | $553.7M | $565.2M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $40.9M | $40.3M | $41.9M | $42.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $346.3M | $335.3M | $340.9M | $342.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $559.4M | $610.0M | $550.5M | $587.5M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $215.3M | $209.5M | $212.7M | $222.9M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $161.5M | $152.4M | $147.2M | $136.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $173.6M | $162.7M | $104.3M | $151.3M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $168.7M | $159.6M | $102.2M | $148.7M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $1.52 | $1.45 | $0.94 | $1.39 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 110M | 108M | 106M | 106M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 112M | 111M | 108M | 108M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$216.4M
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$0.85
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+5.4%
Cash Change
+586.0%
Margin Change
+34.1 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Margins expanded
- Cash position grew
What Weakened
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, EPS growth, cash levels, net income margin. Pressure indicators included debt levels. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 7.9%. EPS increased 400.0%. Cash increased 586.0%. Total debt increased 5.4%. Net income margin improved by 34.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
41
Smart Money
41
Number of Gurus
1
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
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Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
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Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
4 historical recordsHistorical Score Chart
3 of 4 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
REIT - OfficeNews
The REIT Conundrum
Sequoia Financial Advisors LLC Invests $876,000 in Highwoods Properties, Inc. $HIW
Corient Private Wealth LP Sells 40,685 Shares of Highwoods Properties, Inc. $HIW
Highwoods to Release Third Quarter 2026 Results Tuesday, October 27th
Rumor Mill · HIW
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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