Symbols / HIW Stock $25.56 +0.59% Highwoods Properties, Inc.

Real Estate • REIT - Office • United States • NYQ
HIW (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Office
CEO Mr. Theodore J. Klinck
Exch · Country NYQ · United States
Market Cap 2.87B
Enterprise Value 6.76B
Income 91.17M
Sales 823.80M
FCF (ttm) 357.90M
Book/sh 21.24
Cash/sh 0.29
Employees 315
Insider 10d —
IPO Jun 08, 1994
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 240.96%
P/E 30.80
Forward P/E 33.63
PEG 7.77
P/S 3.48
P/B 1.20
P/C —
EV/EBITDA 14.21
EV/Sales 8.21
Quick Ratio 1.48
Current Ratio 1.56
Debt/Eq 141.68
LT Debt/Eq —
EPS (ttm) 0.83
EPS next Y 0.76
EPS Growth -68.50%
Revenue Growth 7.60%
EPS Gr Q/Q -67.40%
Rev Gr Q/Q —
Earnings (next) 2026-07-28
Earnings (prior) 2026-04-28
ROA 2.11%
ROE 3.77%
ROIC —
Gross Margin 67.53%
Oper. Margin 25.31%
Profit Margin 11.35%
Shs Outstand 110.27M
Shs Float 107.93M
Insider Own 1.31%
Instit Own 109.66%
Short Float 9.19%
Short Ratio 5.55
Short Interest 6.41M
52W High 32.76
vs 52W High -21.98%
52W Low 20.45
vs 52W Low 24.99%
Beta 1.10
Impl. Vol. 29.80%
Rel Volume 0.85
Avg Volume 1.41M
Volume 1.20M
Target (mean) $26.22
Tgt Median $24.00
Tgt Low $23.00
Tgt High $38.00
# Analysts 9
Recom Hold
Prev Close $25.41
Price $25.56
Change 0.59%
About

Highwoods Properties, Inc. is a publicly traded fully integrated office real estate investment trust that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. Our vision is to be a leader in the evolution of commercial real estate for the benefit of our customers, our communities and those who invest with us. Our mission is to create environments and experiences that inspire our teammates and our customers to achieve more together. We are in the work-placemaking business and believe that by creating exceptional environments and experiences, we can deliver greater value to our customers, their teammates and, in turn, our shareholders. Highwoods Properties, Inc. is headquartered in Raleigh. Highwoods Properties, Inc. was incorporated in 1978 in Maryland, USA.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$26.22
Mean price target
2. Current target
$25.56
Latest analyst target
3. DCF / Fair value
$58.42
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$25.56
Low
$23.00
High
$38.00
Mean
$26.22

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-31 up Morgan Stanley Underweight → Equal-Weight $23
2026-03-17 main Truist Securities Hold → Hold $23
2026-02-24 main Mizuho Neutral → Neutral $25
2026-02-18 main Citigroup Neutral → Neutral $24
2025-11-10 main Wells Fargo Equal-Weight → Equal-Weight $30
2025-10-21 main Morgan Stanley Underweight → Underweight $24
2025-10-13 down Jefferies Buy → Hold $30
2025-10-08 init Wolfe Research — → Outperform $38
2025-09-03 main Truist Securities Hold → Hold $33
2025-07-14 main Mizuho Neutral → Neutral $30
2025-05-19 main Wells Fargo Equal-Weight → Equal-Weight $31
2025-03-17 init Jefferies — → Buy $32
2025-02-13 main Truist Securities Buy → Buy $32
2025-01-07 main Mizuho Neutral → Neutral $29
2025-01-02 main Jefferies Hold → Hold $31
2024-11-04 main Wells Fargo Equal-Weight → Equal-Weight $35
2024-11-01 main Baird Neutral → Neutral $32
2024-10-01 down Deutsche Bank Buy → Hold $35
2024-09-11 main Wells Fargo Equal-Weight → Equal-Weight $32
2024-07-31 main Baird Neutral → Neutral $30
News
RSS: Latest HIW news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-02-27 MILLER JEFFREY DOUGLAS General Counsel — 30,280 $0.00 $0
2026-02-27 KLINCK THEODORE J Chief Executive Officer — 192,437 $0.00 $0
2026-02-27 MAIORANA BRENDAN C. Chief Financial Officer — 66,969 $0.00 $0
2026-02-27 LEARY BRIAN M Chief Operating Officer — 43,400 $0.00 $0
2025-09-17 HARTZELL DAVID JOHN Director — 4,300 $32.10 $138,030
2025-05-14 LLOYD ANNE H Director — 3,060 $0.00 $0
2025-05-14 HARTZELL DAVID JOHN Director — 3,060 $0.00 $0
2025-05-14 EVANS CARLOS E Director — 3,060 $0.00 $0
2025-05-14 GADIS DAVID L. Director — 3,060 $0.00 $0
2025-05-14 TODD CANDICE W. Director — 3,060 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
806.11
-2.39%
825.86
-0.98%
834.00
+0.61%
828.93
Operating Revenue
806.11
-2.39%
825.86
-0.98%
834.00
+0.61%
828.93
Cost Of Revenue
261.37
-3.97%
272.17
+1.26%
268.78
+3.45%
259.81
Reconciled Cost Of Revenue
261.37
-3.97%
272.17
+1.26%
268.78
+3.45%
259.81
Gross Profit
544.74
-1.62%
553.69
-2.04%
565.22
-0.69%
569.12
Operating Expense
335.26
-1.67%
340.95
-0.39%
342.27
+3.76%
329.88
Selling General And Administration
40.31
-3.81%
41.90
-2.23%
42.86
+1.40%
42.27
General And Administrative Expense
40.31
-3.81%
41.90
-2.23%
42.86
+1.40%
42.27
Other Gand A
40.31
-3.81%
41.90
-2.23%
42.86
+1.40%
42.27
Total Expenses
596.63
-2.69%
613.12
+0.34%
611.05
+3.62%
589.68
Operating Income
209.48
-1.53%
212.74
-4.58%
222.95
-6.81%
239.25
EBITDA
610.04
+10.82%
550.50
-6.29%
587.45
+5.48%
556.95
Normalized EBITDA
516.39
-2.25%
528.28
+0.07%
527.90
-0.38%
529.92
Reconciled Depreciation
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
EBIT
315.08
+25.31%
251.45
-12.70%
288.04
+6.94%
269.34
Total Unusual Items
93.65
+321.52%
22.22
-62.69%
59.55
+120.31%
27.03
Total Unusual Items Excluding Goodwill
93.65
+321.52%
22.22
-62.69%
59.55
+120.31%
27.03
Special Income Charges
-13.50
+45.12%
-24.60
-308.86%
11.78
+132.26%
-36.52
Impairment Of Capital Assets
8.80
-64.23%
24.60
0.00
-100.00%
36.52
Net Income
159.61
+56.10%
102.25
-31.25%
148.72
-6.50%
159.06
Pretax Income
162.65
+56.01%
104.25
-31.11%
151.33
-7.70%
163.96
Net Non Operating Interest Income Expense
-152.43
-3.56%
-147.20
-7.67%
-136.71
-29.72%
-105.39
Interest Expense Non Operating
152.43
+3.56%
147.20
+7.67%
136.71
+29.72%
105.39
Net Interest Income
-152.43
-3.56%
-147.20
-7.67%
-136.71
-29.72%
-105.39
Interest Expense
152.43
+3.56%
147.20
+7.67%
136.71
+29.72%
105.39
Other Income Expense
105.61
+172.80%
38.71
-40.53%
65.09
+116.28%
30.10
Other Non Operating Income Expenses
9.59
-22.29%
12.34
+178.17%
4.43
+189.87%
1.53
Gain On Sale Of Security
107.15
+128.87%
46.82
-2.00%
47.77
-24.82%
63.55
Gain On Sale Of Business
-4.70
0.00
-100.00%
11.78
0.00
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
19.67
+321.52%
4.67
-62.69%
12.51
+120.31%
5.68
Net Income Including Noncontrolling Interests
162.65
+56.01%
104.25
-31.11%
151.33
-7.70%
163.96
Net Income From Continuing Operation Net Minority Interest
159.61
+56.10%
102.25
-31.25%
148.72
-6.50%
159.06
Net Income From Continuing And Discontinued Operation
159.61
+56.10%
102.25
-31.25%
148.72
-6.50%
159.06
Net Income Continuous Operations
162.65
+56.01%
104.25
-31.11%
151.33
-7.70%
163.96
Minority Interests
-3.04
-51.45%
-2.01
+23.29%
-2.62
+46.63%
-4.90
Normalized Income
85.63
+1.10%
84.70
-16.69%
101.67
-26.17%
137.70
Net Income Common Stockholders
157.25
+57.63%
99.76
-31.78%
146.23
-6.61%
156.57
Diluted EPS
1.45
+54.26%
0.94
-32.37%
1.39
-6.71%
1.49
Basic EPS
1.45
+54.26%
0.94
-32.37%
1.39
-6.71%
1.49
Basic Average Shares
108.45
+2.15%
106.17
+0.60%
105.53
+0.39%
105.12
Diluted Average Shares
110.57
+2.08%
108.32
+0.50%
107.78
+0.20%
107.57
Diluted NI Availto Com Stockholders
160.37
+57.52%
101.80
-31.86%
149.39
-6.77%
160.24
Average Dilution Earnings
3.11
+52.55%
2.04
-35.52%
3.16
-13.79%
3.67
Depreciation Amortization Depletion Income Statement
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
Depreciation And Amortization In Income Statement
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
Earnings From Equity Interest
2.37
-43.03%
4.16
+275.61%
1.11
-27.88%
1.53
Preferred Stock Dividends
2.36
-5.07%
2.48
+0.00%
2.48
-0.04%
2.49
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
6,273.84
+4.05%
6,029.35
+0.44%
6,002.93
-1.00%
6,063.38
Current Assets
486.00
-5.13%
512.31
+16.37%
440.23
+6.23%
414.40
Cash Cash Equivalents And Short Term Investments
27.36
+22.07%
22.41
-10.79%
25.12
+17.63%
21.36
Cash And Cash Equivalents
27.36
+22.07%
22.41
-10.79%
25.12
+17.63%
21.36
Receivables
358.51
+2.96%
348.20
+1.36%
343.54
+7.29%
320.21
Accounts Receivable
28.26
-0.08%
28.29
+0.69%
28.09
+10.25%
25.48
Other Receivables
318.02
+2.97%
308.85
-0.58%
310.65
+5.78%
293.67
Loans Receivable
12.23
+10.52%
11.06
+130.74%
4.79
+356.23%
1.05
Inventory
23.20
-58.13%
55.41
0.00
—
Finished Goods
23.20
-58.13%
55.41
0.00
—
Prepaid Assets
—
—
—
0.00
Restricted Cash
15.69
+39.29%
11.27
+74.76%
6.45
+35.76%
4.75
Other Current Assets
61.24
-18.37%
75.02
+15.20%
65.12
-4.36%
68.09
Total Non Current Assets
5,787.83
+4.91%
5,517.04
-0.82%
5,562.70
-1.53%
5,648.97
Investments And Advances
471.58
-2.91%
485.73
+41.51%
343.24
+27.49%
269.22
Long Term Equity Investment
471.58
-2.91%
485.73
+41.51%
343.24
+27.49%
269.22
Non Current Deferred Assets
244.26
+16.33%
209.97
-7.06%
225.92
-10.64%
252.83
Other Non Current Assets
—
—
—
—
Total Liabilities Net Minority Interest
3,838.18
+6.67%
3,598.11
+2.35%
3,515.39
+0.49%
3,498.40
Current Liabilities
284.01
-6.75%
304.55
+0.78%
302.18
+0.33%
301.18
Payables And Accrued Expenses
284.01
-6.75%
304.55
+0.78%
302.18
+0.33%
301.18
Total Non Current Liabilities Net Minority Interest
3,554.18
+7.91%
3,293.56
+2.50%
3,213.21
+0.50%
3,197.22
Long Term Debt And Capital Lease Obligation
3,554.18
+7.91%
3,293.56
+2.50%
3,213.21
+0.50%
3,197.22
Long Term Debt
3,554.18
+7.91%
3,293.56
+2.50%
3,213.21
+0.50%
3,197.22
Stockholders Equity
2,378.98
+0.75%
2,361.16
-2.96%
2,433.30
-1.76%
2,476.76
Common Stock Equity
2,352.29
+0.85%
2,332.35
-3.00%
2,404.49
-1.78%
2,447.94
Capital Stock
27.79
-7.02%
29.89
+0.06%
29.87
-0.02%
29.87
Common Stock
1.10
+2.14%
1.08
+1.80%
1.06
+0.48%
1.05
Preferred Stock
26.69
-7.36%
28.81
+0.00%
28.81
-0.03%
28.82
Share Issued
109.91
+2.12%
107.62
+1.81%
105.71
+0.47%
105.21
Ordinary Shares Number
109.91
+2.12%
107.62
+1.81%
105.71
+0.47%
105.21
Additional Paid In Capital
3,223.77
+2.53%
3,144.13
+1.31%
3,103.45
+0.72%
3,081.33
Retained Earnings
-870.08
-7.34%
-810.61
-16.13%
-698.02
-10.23%
-633.23
Gains Losses Not Affecting Retained Earnings
-2.49
-11.04%
-2.25
-12.47%
-2.00
-64.91%
-1.21
Minority Interest
56.67
-19.13%
70.08
+29.20%
54.24
-38.51%
88.21
Other Equity Adjustments
-2.49
-11.04%
-2.25
-12.47%
-2.00
-64.91%
-1.21
Total Equity Gross Minority Interest
2,435.65
+0.18%
2,431.24
-2.26%
2,487.54
-3.02%
2,564.98
Total Capitalization
5,933.16
+4.92%
5,654.72
+0.15%
5,646.50
-0.48%
5,673.98
Working Capital
202.00
-2.77%
207.76
+50.49%
138.05
+21.93%
113.22
Invested Capital
5,906.47
+4.99%
5,625.91
+0.15%
5,617.69
-0.49%
5,645.16
Total Debt
3,554.18
+7.91%
3,293.56
+2.50%
3,213.21
+0.50%
3,197.22
Net Debt
3,526.82
+7.82%
3,271.15
+2.61%
3,188.08
+0.38%
3,175.86
Net Tangible Assets
2,378.98
+0.75%
2,361.16
-2.96%
2,433.30
-1.76%
2,476.76
Tangible Book Value
2,352.29
+0.85%
2,332.35
-3.00%
2,404.49
-1.78%
2,447.94
Investment Properties
5,071.99
+5.20%
4,821.35
-3.45%
4,993.53
-2.60%
5,126.93
Investmentsin Associatesat Cost
—
—
—
269.22
Investmentsin Joint Venturesat Cost
471.58
-2.91%
485.73
+41.51%
343.24
+27.49%
269.22
Preferred Stock Equity
26.69
-7.36%
28.81
+0.00%
28.81
-0.03%
28.82
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
359.21
-11.00%
403.58
+4.30%
386.96
-8.25%
421.78
Cash Flow From Continuing Operating Activities
359.21
-11.00%
403.58
+4.30%
386.96
-8.25%
421.78
Net Income From Continuing Operations
162.65
+56.01%
104.25
-31.11%
151.33
-7.70%
163.96
Depreciation Amortization Depletion
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
Depreciation
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
Amortization Cash Flow
—
—
1.14
+2802.38%
-0.04
Depreciation And Amortization
294.95
-1.37%
299.05
-0.12%
299.41
+4.10%
287.61
Amortization Of Intangibles
—
—
1.14
+2802.38%
-0.04
Other Non Cash Items
7.12
-20.07%
8.90
+1.64%
8.76
+19.62%
7.32
Stock Based Compensation
8.21
+2.61%
8.00
+14.55%
6.98
-7.52%
7.55
Provisionand Write Offof Assets
—
—
—
—
Asset Impairment Charge
8.80
-64.23%
24.60
0.00
-100.00%
36.52
Operating Gains Losses
-104.67
-106.04%
-50.80
+16.10%
-60.55
+6.96%
-65.08
Gain Loss On Investment Securities
-107.15
-128.87%
-46.82
+3.00%
-48.27
+24.05%
-63.55
Change In Working Capital
-24.30
-729.86%
3.86
+119.36%
-19.93
-20.96%
-16.47
Change In Receivables
-12.53
+2.44%
-12.85
+48.72%
-25.06
+37.94%
-40.38
Changes In Account Receivables
-12.53
+2.44%
-12.85
+48.72%
-25.06
+37.94%
-40.38
Change In Prepaid Assets
2.21
-17.12%
2.67
+111.99%
1.26
-25.28%
1.69
Change In Payables And Accrued Expense
-13.98
-199.58%
14.04
+262.62%
3.87
-82.58%
22.22
Change In Payable
-13.98
-199.58%
14.04
+262.62%
3.87
-82.58%
22.22
Change In Account Payable
-13.98
-199.58%
14.04
+262.62%
3.87
-82.58%
22.22
Investing Cash Flow
-440.66
-45.71%
-302.44
-78.23%
-169.69
+72.40%
-614.80
Cash Flow From Continuing Investing Activities
-440.66
-45.71%
-302.44
-78.23%
-169.69
+72.40%
-614.80
Net Investment Purchase And Sale
—
—
-4.58
-1832.95%
0.26
Purchase Of Investment
—
—
-14.46
-60162.50%
-0.02
Sale Of Investment
—
—
9.89
+3333.33%
0.29
Net Business Purchase And Sale
-4.35
+97.17%
-153.36
-191.51%
-52.61
+79.90%
-261.77
Purchase Of Business
-28.49
+81.42%
-153.36
-15.65%
-132.61
+49.34%
-261.77
Gain Loss On Sale Of Business
4.70
0.00
+100.00%
-11.78
0.00
Net Other Investing Changes
6.63
+135.51%
-18.68
-634.60%
3.49
+121.02%
-16.62
Financing Cash Flow
90.83
+191.71%
-99.04
+51.79%
-205.43
-209.31%
187.93
Cash Flow From Continuing Financing Activities
90.83
+191.71%
-99.04
+51.79%
-205.43
-209.31%
187.93
Net Issuance Payments Of Debt
262.01
+240.52%
76.94
+336.54%
17.63
-95.70%
409.56
Issuance Of Debt
855.88
+152.47%
339.00
-59.61%
839.35
-31.48%
1,225.00
Repayment Of Debt
-593.87
-126.62%
-262.06
+68.11%
-821.73
-0.77%
-815.44
Long Term Debt Issuance
379.88
0.00
-100.00%
590.35
+7.34%
550.00
Long Term Debt Payments
-38.87
-450.85%
-7.06
+96.59%
-206.73
+54.71%
-456.44
Net Long Term Debt Issuance
341.01
+4932.91%
-7.06
-101.84%
383.63
+310.05%
93.56
Short Term Debt Issuance
476.00
+40.41%
339.00
+36.14%
249.00
-63.11%
675.00
Short Term Debt Payments
-555.00
-117.65%
-255.00
+58.54%
-615.00
-71.31%
-359.00
Net Short Term Debt Issuance
-79.00
-194.05%
84.00
+122.95%
-366.00
-215.82%
316.00
Net Common Stock Issuance
61.00
+17.14%
52.08
+20484.98%
0.25
-84.68%
1.65
Common Stock Payments
-2.02
-40.40%
-1.44
+3.36%
-1.49
+74.86%
-5.92
Common Stock Dividend Paid
-216.73
-2.06%
-212.35
-0.63%
-211.02
-0.40%
-210.18
Cash Dividends Paid
-219.09
-1.98%
-214.84
-0.62%
-213.51
-0.39%
-212.67
Repurchase Of Capital Stock
-2.02
-40.40%
-1.44
+3.36%
-1.49
+74.86%
-5.92
Net Other Financing Charges
-10.98
+17.02%
-13.23
-35.17%
-9.79
+7.77%
-10.61
Changes In Cash
9.37
+344.59%
2.11
-82.21%
11.85
+332.67%
-5.09
Beginning Cash Position
33.68
+6.68%
31.57
+20.93%
26.11
-16.32%
31.20
End Cash Position
43.05
+27.83%
33.68
+6.68%
31.57
+20.93%
26.11
Free Cash Flow
359.21
-11.00%
403.58
+4.30%
386.96
-8.25%
421.78
Interest Paid Supplemental Data
144.60
+8.25%
133.58
+2.94%
129.76
+26.60%
102.50
Amortization Of Securities
-0.25
+0.40%
-0.25
+15.02%
-0.29
-23.11%
-0.24
Common Stock Issuance
63.02
+17.76%
53.52
+2973.98%
1.74
-77.00%
7.57
Dividend Received CFO
6.70
+12.15%
5.97
+379.37%
1.25
+102.93%
0.61
Dividends Received CFI
8.10
-4.48%
8.48
+28.66%
6.59
0.00
Earnings Losses From Equity Investments
-2.37
+43.03%
-4.16
-275.61%
-1.11
+27.88%
-1.53
Issuance Of Capital Stock
63.02
+17.76%
53.52
+2973.98%
1.74
-77.00%
7.57
Net Investment Properties Purchase And Sale
-451.05
-224.78%
-138.88
-9.21%
-127.17
+62.20%
-336.40
Net Preferred Stock Issuance
-2.12
0.00
+100.00%
-0.01
0.00
Other Cash Adjustment Outside Changein Cash
0.00
0.00
+100.00%
-6.39
0.00
Preferred Stock Dividend Paid
-2.36
+5.07%
-2.48
+0.00%
-2.48
+0.04%
-2.49
Preferred Stock Payments
—
—
-0.01
0.00
Purchase Of Investment Properties
-646.22
-169.47%
-239.81
-4.72%
-228.99
+50.91%
-466.44
Sale Of Business
24.14
0.00
-100.00%
80.00
0.00
Sale Of Investment Properties
195.16
+93.36%
100.93
-0.88%
101.83
-21.69%
130.04
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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