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HIW

BEARISH
$24.08 Live
Highwoods Properties, Inc. · NYSE
Target $26.22 (+8.9%)
$20.45 52W Range $32.76

At a glance

Key valuation, profitability, growth, and risk metrics.

Updated Apr 28, 2026
Market cap
$2.66B
P/E
16.61
ROE
6.7%
Profit margin
19.7%
Debt/Equity
1.49
Dividend yield
8.31%

AI Analysis

AI-powered fundamental assessment

Confidence
85%
HIW presents a precarious profile characterized by a stable but mediocre Piotroski F-Score of 4/9 and a stark divergence between its Graham Number ($26.42) and Intrinsic Value ($10.15). While the current price of $24.08 sits below the defensive fair value, the company is plagued by negative revenue growth (-1.60%) and a highly unsustainable dividend payout ratio of 137.93%. The technical trend is completely bearish (0/100), and the significant jump in Forward P/E (31.68) compared to current P/E (16.61) suggests a projected decline in earnings. Overall, the stock appears to be a value trap where the high yield is not supported by fundamental earnings.

Key Strengths

Current price is below the Graham Number ($26.42), suggesting some defensive value
Strong gross margins (67.67%) and operating margins (26.16%)
Healthy liquidity ratios with a Current Ratio of 2.38 and Quick Ratio of 1.88
Fully-integrated operational model providing better control over tenant experience
Moderate Debt/Equity ratio (1.49) compared to some sector peers

Key Risks

Unsustainable dividend payout ratio of 137.93%, risking a dividend cut
Negative YoY revenue growth (-1.60%) indicating a lack of top-line momentum
Severe overvaluation relative to growth as evidenced by a PEG ratio of 7.77
Projected earnings decline indicated by the spike in Forward P/E to 31.68
Exposure to the volatile Office REIT sector and remote work headwinds
AI Fair Value Estimate
Based on comprehensive analysis
$16.5
-31.5% below current price

Performance Snowflake

Multi-dimensional analysis across 5 key categories

Overall
34
Weak
Value
45
Future
20
Past
30
Health
50
Dividend
25
AI Verdict
High Risk / Value Trap
Key drivers: Unsustainable dividend payout, Negative revenue growth, Bearish technical trend, Low intrinsic value
Confidence
90%
Value
45/100

Ref P/E 16.61, PEG 7.77, Graham $26.42

Positives
  • Price below Graham Number
Watchpoints
  • High PEG ratio (7.77)
  • Price significantly above Intrinsic Value ($10.15)
Future
20/100

Ref Revenue Growth -1.60%, Forward P/E 31.68

Positives
  • Analyst target price ($26.22) is slightly above current price
Watchpoints
  • Negative YoY and Q/Q revenue growth
  • Forward P/E suggests earnings contraction
Past
30/100

Ref 5Y Change -24.0%

Positives
  • 3Y change is positive (+33%)
Watchpoints
  • 5Y change is negative (-24%)
  • Recent 6M trend is sharply down (-15.3%)
Health
50/100

Ref Piotroski F-Score 4/9

Positives
  • Current ratio 2.38
  • Piotroski score 4/9 (Stable)
Watchpoints
  • Debt/Equity 1.49
  • Low ROE (6.68%)
Dividend
25/100

Ref Yield 8.31%, Payout 137.93%

Positives
  • High nominal yield (8.31%)
Watchpoints
  • Payout ratio 137.93% exceeds earnings
  • Dividend strength score 40/100

Stock Price & Analyst Targets

Real-time price movements and analyst price targets

Current Price
$24.08
Analyst Target
$26.22
Upside/Downside
+8.9%

Multi-Horizon Performance vs Peers

Price momentum across 5Y → 1W horizons for HIW and closest competitors.

Updated 2026-04-27
HIW
Highwoods Properties, Inc.
Primary
5Y
-24.0%
3Y
+33.0%
1Y
-8.8%
6M
-15.3%
1M
+17.0%
1W
-0.1%
FCP
Four Corners Property Trust, Inc.
Peer
5Y
+12.2%
3Y
+18.8%
1Y
-3.2%
6M
+7.2%
1M
+7.5%
1W
-0.9%
UNI
Uniti Group Inc.
Peer
5Y
-11.5%
3Y
+156.3%
1Y
+54.4%
6M
+109.3%
1M
+50.8%
1W
+7.3%
AKR
Acadia Realty Trust
Peer
5Y
+58.5%
3Y
+49.7%
1Y
-8.0%
6M
+8.6%
1M
-3.6%
1W
-5.0%
DX
Dynex Capital, Inc.
Peer
5Y
+32.5%
3Y
+80.0%
1Y
+34.4%
6M
+10.7%
1M
+9.8%
1W
+2.4%

Positive values indicate cumulative gains over the specified period. Comparables pulled from the same sector to highlight whether momentum is stock-specific or industry-wide.

Historical Performance Trends

Long-term financial metrics and growth patterns

Revenue & Net Income

Profit & Operating Margins

Return on Equity (ROE)

Quarterly Revenue Growth

Historical data shows last 12 quarters (3 years)

Valuation Metrics

Key valuation ratios and pricing indicators

P/E Ratio
16.61
Forward P/E
31.68
PEG Ratio
7.77
P/B Ratio
1.13
P/S Ratio
3.28
EV/Revenue
7.84
EV/EBITDA
13.5
Market Cap
$2.66B

Profitability

Profit margins and return metrics

Profit Margin 19.74%
Operating Margin 26.16%
Gross Margin 67.67%
ROE 6.68%
ROA 2.15%

Growth

Revenue and earnings growth rates

Revenue Growth -1.6%
Earnings Growth N/A
Q/Q Revenue Growth -1.06%
Q/Q Earnings Growth N/A

Financial Health

Balance sheet strength and liquidity metrics

Debt/Equity
1.49
Moderate
Current Ratio
2.38
Strong
Quick Ratio
1.88
Excellent
Cash/Share
$0.25

Financial Statement Flow

Interactive flow visualization showing how money moves through the company Q4 2025

Revenue
$0.2B
Gross Margin
67.2%
Op. Margin
26.1%
Net Margin
14.4%
Total Assets
$6.3B
Liabilities
$3.8B
Equity
$2.4B
Debt/Equity
1.61x
Operating CF
$0.1B
Free Cash Flow
$0.1B
FCF Yield
100%

Quarterly Earnings History

EPS performance vs analyst estimates

2026-04-28
$N/A
2026-02-10
$0.08
-31.7% surprise
2025-10-28
$0.14
+3.4% surprise
2025-07-29
$0.17
+6.2% surprise

Real Estate Sector Comparison

Comparing HIW against 165 companies in the Real Estate sector (6 bullish, 31 neutral, 128 bearish)
P/E Ratio
16.61
This Stock
vs
41.83
Sector Avg
-60.3% (Discount)
Return on Equity (ROE)
6.68%
This Stock
vs
-33.57%
Sector Avg
-119.9% (Below Avg)
Profit Margin
19.74%
This Stock
vs
10.53%
Sector Avg
+87.5% (Superior)
Debt to Equity
1.49
This Stock
vs
2.45
Sector Avg
-39.1% (Less Debt)
Revenue Growth
-1.6%
This Stock
vs
16932.14%
Sector Avg
-100.0% (Slower)
Current Ratio
2.38
This Stock
vs
7.96
Sector Avg
-70.1% (Weaker)

Similar Companies

Peer comparison within the same industry

Recent Insider Trading

Insider buy and sell transactions from the last 6 months

LEARY BRIAN M
Chief Operating Officer
Stock Award
2026-02-27
43,400 shares
MILLER JEFFREY DOUGLAS
General Counsel
Stock Award
2026-02-27
30,280 shares
KLINCK THEODORE J
Chief Executive Officer
Stock Award
2026-02-27
192,437 shares
MAIORANA BRENDAN C.
Chief Financial Officer
Stock Award
2026-02-27
66,969 shares
Insider transactions can signal confidence or concerns about company prospects

SEC Filings

Recent regulatory filings from the SEC EDGAR database

DEF 14A
DEF 14A
2026-03-27

HIW filed a Definitive Proxy Statement on March 27, 2026, providing shareholders with necessary information and voting materials for an upcoming meeting.

8-K
8-K
2026-02-11
10-K
10-K
2026-02-10

Highwoods Properties (HIW) is a fully integrated office REIT operating in major business districts across several US cities. The company's financial flexibility is constrained by REIT distribution requirements, which limit cash available for debt repayment and growth initiatives. Key risks include potential stock dilution from future equity issuances and the impact of dividend fluctuations on the market price of its common stock.

8-K
8-K
2025-11-14
8-K
8-K
2025-11-05

HIW filed an 8-K on November 5, 2025, likely to announce its third-quarter financial results.

10-Q
10-Q
2025-10-28

HIW declared a $0.50 per share quarterly dividend and reported $26.3 million in cash and cash equivalents as of September 30, 2025, supported by $538.9 million in unused revolving credit capacity. Management believes current revenues and available financing sources are sufficient to meet short-term liquidity requirements, including operating expenses and capital expenditures. Primary risks include general uncertainties detailed in the 2024 Annual Report and the company's reliance on debt and equity markets for future funding.

8-K
8-K
2025-08-14

HIW filed an 8-K on August 14, 2025, likely to announce its second-quarter financial results.

10-Q
10-Q
2025-07-29

HIW declared a $0.50 per share cash dividend on July 24, 2025, and reported $21.2 million in cash and cash equivalents as of June 30, 2025. The company maintains significant liquidity with approximately $612.9 million in unused revolving credit capacity to support operations and capital expenditures. Financial risks include a reliance on diverse financing sources, including debt and equity issuances, to meet short-term liquidity requirements.

8-K
8-K
2025-05-13

HIW filed an 8-K on May 13, 2025, likely to announce its first-quarter financial results.

10-Q
10-Q
2025-04-29

HIW declared a $0.50 per share quarterly dividend and reported $20.1 million in cash and cash equivalents as of March 31, 2025. The company maintains significant liquidity with $604.9 million in unused revolving credit capacity to support operations and capital expenditures. Financial risks include a reliance on diverse external financing sources and general market uncertainties referenced in the company's 2024 Annual Report.

DEF 14A
DEF 14A
2025-03-28
10-K
10-K
2025-02-11
10-Q
10-Q
2024-10-22
10-Q
10-Q
2024-07-23
8-K
8-K
2024-05-23
Data sourced from SEC EDGAR. AI summaries generated automatically.

Wall Street Analysts

Professional analyst ratings and price targets

Consensus
HOLD
9 analysts
Morgan Stanley
2026-03-31
up
Underweight Equal-Weight
Truist Securities
2026-03-17
Maintains
Hold Hold
Mizuho
2026-02-24
Maintains
Neutral Neutral
Citigroup
2026-02-18
Maintains
Neutral Neutral
Wells Fargo
2025-11-10
Maintains
Equal-Weight Equal-Weight

Past News Coverage

Recent headlines mentioning HIW from our newsroom.

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