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Highwoods Properties, Inc. HIW
Real Estate - REIT - Office - NYSE - US
Watchlist
$ 26.15
-3.61 %
$ 2.82 B
Market Cap
27.82
P/E
1. INTRINSIC VALUE

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one HIW stock under the worst case scenario is HIDDEN Compared to the current market price of 26.1 USD, Highwoods Properties, Inc. is HIDDEN

HIW Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one HIW stock under the base case scenario is HIDDEN Compared to the current market price of 26.1 USD, Highwoods Properties, Inc. is HIDDEN

HIW Intrinsic Value
HIDDEN
SHOW

This DCF valuation model was last updated on Apr, 8, 2025.

The intrinsic value of one HIW stock under the best case scenario is HIDDEN Compared to the current market price of 26.1 USD, Highwoods Properties, Inc. is HIDDEN

HIW Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart HIW

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1M -8%
6M -23%
1Y 14.0%
3Y -33%
5Y -4%
All
$36.0$36.0$35.0$35.0$34.0$34.0$33.0$33.0$32.0$32.0$31.0$31.0$30.0$30.0$29.0$29.0$28.0$28.0$27.0$27.0$26.0$26.015 Oct15 OctNov '24Nov '2415 Nov15 NovDec '24Dec '2415 Dec15 DecJan '25Jan '2515 Jan15 JanFeb '25Feb '2515 Feb15 FebMar '25Mar '2515 Mar15 MarApr '25Apr '25
FINANCIALS
830 M REVENUE
-0.48%
Growth Rates
1Year -0.48%
3Years 2.62%
5Years 2.43%
7Years 2.41%
10Years 3.15%
516 M OPERATING INCOME
130.28%
Growth Rates
1Year 130.28%
3Years 29.60%
5Years 22.09%
7Years 14.63%
10Years 13.10%
104 M NET INCOME
-31.11%
Growth Rates
1Year -31.11%
3Years -31.43%
5Years -5.95%
7Years -8.33%
10Years -1.06%
404 M OPERATING CASH FLOW
4.30%
Growth Rates
1Year 4.30%
3Years -0.89%
5Years 1.99%
7Years 1.95%
10Years 4.22%
-302 M INVESTING CASH FLOW
-78.23%
Growth Rates
1Year -78.23%
3Years -1.68%
5Years 13.02%
7Years -2.40%
10Years 0.81%
-99 M FINANCING CASH FLOW
51.79%
Growth Rates
1Year 51.79%
3Years 29.69%
5Years -7.00%
7Years 5.07%
10Years -10.25%
206 M REVENUE
0.59%
Growth Rates
1Year -0.48%
3Years 2.62%
5Years 2.43%
7Years 2.41%
10Years 3.15%
51.4 M OPERATING INCOME
5.97%
Growth Rates
1Year 130.28%
3Years 29.60%
5Years 22.09%
7Years 14.63%
10Years 13.10%
-3.2 M NET INCOME
-21.07%
Growth Rates
1Year -31.11%
3Years -31.43%
5Years -5.95%
7Years -8.33%
10Years -1.06%
104 M OPERATING CASH FLOW
6.39%
Growth Rates
1Year 4.30%
3Years -0.89%
5Years 1.99%
7Years 1.95%
10Years 4.22%
-97.5 M INVESTING CASH FLOW
34.58%
Growth Rates
1Year -78.23%
3Years -1.68%
5Years 13.02%
7Years -2.40%
10Years 0.81%
-6.51 M FINANCING CASH FLOW
-13.38%
Growth Rates
1Year 51.79%
3Years 29.69%
5Years -7.00%
7Years 5.07%
10Years -10.25%
Balance Sheet Highwoods Properties, Inc.
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Current Assets 512 M
Cash & Short-Term Investments 22.4 M
Receivables 337 M
Other Current Assets 153 M
Non-Current Assets 486 M
Long-Term Investments 486 M
PP&E 0
Other Non-Current Assets 0
33.78 %15.31 %48.67 %Total Assets$998.0m
Current Liabilities 305 M
Accounts Payable 0
Short-Term Debt 0
Other Current Liabilities 305 M
Non-Current Liabilities 3.29 B
Long-Term Debt 3.29 B
Other Non-Current Liabilities 0
8.46 %91.54 %Total Liabilities$3.6b
EFFICIENCY
Earnings Waterfall Highwoods Properties, Inc.
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Revenue 830 M
Cost Of Revenue 272 M
Gross Profit 558 M
Operating Expenses 41.9 M
Operating Income 516 M
Other Expenses 412 M
Net Income 104 M
900m900m800m800m700m700m600m600m500m500m400m400m300m300m200m200m100m100m00830m(272m)558m(42m)516m(412m)104mRevenueRevenueCost Of RevenueCost Of RevenueGross ProfitGross ProfitOperating ExpensesOperating ExpensesOperating IncomeOperating IncomeOther ExpensesOther ExpensesNet IncomeNet Income
RATIOS
67.21% GROSS MARGIN
67.21%
Averages
1Year 67.21%
3Years 67.88%
5Years 68.28%
7Years 67.71%
10Years 66.98%
62.16% OPERATING MARGIN
62.16%
Averages
1Year 62.16%
3Years 39.42%
5Years 35.99%
7Years 33.52%
10Years 31.40%
12.32% NET MARGIN
12.32%
Averages
1Year 12.32%
3Years 12.41%
5Years 20.33%
7Years 18.98%
10Years 25.40%
4.33% ROE
4.33%
Averages
1Year 4.33%
3Years 4.27%
5Years 6.59%
7Years 6.16%
10Years 8.21%
1.70% ROA
1.70%
Averages
1Year 1.70%
3Years 1.71%
5Years 2.81%
7Years 2.68%
10Years 3.65%
74.40% ROIC
74.40%
Averages
1Year 74.40%
3Years 26.59%
5Years 17.23%
7Years 13.03%
10Years 10.89%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis Highwoods Properties, Inc.
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500m500m400m400m300m300m200m200m100m100m00(100m)(100m)(200m)(200m)20162016201720172018201820192019202020202021202120222022202320232024202420252025
Net Income 104 M
Depreciation & Amortization 299 M
Capital Expenditures 0
Stock-Based Compensation 8 M
Change in Working Capital 0
Others -7.72 M
Free Cash Flow 404 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets Highwoods Properties, Inc.
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Wall Street analysts predict an average 1-year price target for HIW of $33 , with forecasts ranging from a low of $22 to a high of $46 .
HIW Lowest Price Target Wall Street Target
22 USD -15.87%
HIW Average Price Target Wall Street Target
33 USD 26.20%
HIW Highest Price Target Wall Street Target
46 USD 75.91%
Price
Max Price Target
Min Price Target
Average Price Target
5050454540403535303025252020May '24May '24Jul '24Jul '24Aug '24Aug '24Oct '24Oct '24Nov '24Nov '2420252025Feb '25Feb '25Apr '25Apr '25Jun '25Jun '25Jul '25Jul '25Aug '25Aug '25Oct '25Oct '25Nov '25Nov '2520262026Feb '26Feb '26Apr '26Apr '26
4. DIVIDEND ANALYSIS
1.99% DIVIDEND YIELD
0.5 USD DIVIDEND PER SHARE
Q1
Q2
Q3
Q4
2.50002.50002.00002.00001.50001.50001.00001.00000.50000.50000.00000.00000.4250.4250.440.46250.4750.480.480.50.50.50.50.4250.4250.440.46250.4750.480.480.50.50.50.4250.4250.440.46250.4750.480.50.50.50.50.4251.700.4251.700.82.120.441.830.46251.890.4751.920.481.940.52.000.52.000.52.000.51.002015201520162016201720172018201820192019202020202021202120222022202320232024202420252025
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5. COMPETITION
slide 2 of 7
6. Ownership
Insider Ownership Highwoods Properties, Inc.
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
205 K USD 1
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
7. News
Highwoods to Release First Quarter 2025 Results Tuesday, April 29th RALEIGH, N.C., April 01, 2025 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) will release its first quarter 2025 results on Tuesday, April 29th, after the market closes. globenewswire.com - 1 week ago
Certainly Uncertain US equity markets posted modest gains this week - snapping a four-week losing streak - as investors parsed commentary and updated forecasts from the Federal Reserve's policy meeting. Ahead of the looming April 2nd unveiling of reciprocal tariffs, investors were relieved by FOMC projections showing that 11-of-19 policy markets still expect at least two rate cuts this year. Disappointing retail sales data indicated that economic uncertainty is beginning to affect real-world consumer behavior. Housing market data was relatively solid, however, sparking an upward revision to the GDPNow forecast. seekingalpha.com - 3 weeks ago
Highwoods Concludes Property Acquisition in Raleigh for $138M HIW boosts its portfolio by acquiring Advance Auto Parts Tower, a class AA property in Raleigh's mixed-use North Hills BBD. zacks.com - 3 weeks ago
Highwoods Closes $138 Million Acquisition of Advance Auto Parts Tower in Raleigh RALEIGH, N.C., March 18, 2025 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) has closed the acquisition of Advance Auto Parts Tower in the heart of Raleigh's vibrant mixed-use North Hills Best Business District for a total investment of $138 million. globenewswire.com - 3 weeks ago
Highwoods Properties: Short-Term Headwinds Could Last Longer Than Anticipated (Rating Downgrade) Highwoods Properties is downgraded to a hold due to economic uncertainty and potential prolonged headwinds impacting financials and occupancy rates. Despite solid property locations and a compelling valuation, declining FFO, tight dividend coverage, and disappointing 2025 outlook warrant caution. Management's confidence in their pipeline and balance sheet strength offers some optimism, but increased investment activity is needed for a future upgrade. seekingalpha.com - 3 weeks ago
Should You Retain Highwoods Properties Stock in Your Portfolio Now? HIW to gain from growing demand for high-quality offices and strategic portfolio rebalancing efforts. High competition and interest expenses are concerns. zacks.com - 1 month ago
Demographic Trends Shaping REIT Portfolio Construction Demographic shifts, including an aging population and migration trends, are key drivers of REIT performance, influencing sector allocations and investment strategies. Chilton focuses on single-family rental (SFR) and healthcare REITs, with targeted exposure to multifamily REITs in coastal and Sun Belt markets. The aging population boosts demand for senior housing and medical outpatient buildings, benefiting REITs like Welltower, Ventas, and American Healthcare REIT. seekingalpha.com - 1 month ago
Highwoods Agrees to Buy AA Property to Expand Footprint in Raleigh Highwoods Properties, Inc. HIW recently announced that it has agreed to acquire Advance Auto Parts Tower, a 20-story, Class AA office tower. The property, spanning around 346,000 square feet, is located in Raleigh's mixed-use North Hills Best Business District (“BBD”). zacks.com - 1 month ago
Highwoods Agrees to Acquire Advance Auto Parts Tower in Raleigh 346,000 Square Feet,100% Leased Adjacent to Highwoods-Owned CAPTRUST Tower in North Hills Closing Scheduled for Next 30 Days RALEIGH, N.C., March 03, 2025 (GLOBE NEWSWIRE) -- Highwoods Properties, Inc. (NYSE:HIW) today reported it has agreed to acquire Advance Auto Parts Tower, a 20-story, Class AA office tower located in the heart of Raleigh's vibrant mixed-use North Hills Best Business District (BBD). globenewswire.com - 1 month ago
Buried Treasures: 4 Dramatically Undervalued REITs REITs are highly attractive now due to stable or falling interest rates and low inflation, with many offering strong yields while being undervalued. This article identifies 27 REITs yielding at least 75 basis points above the no-risk rate on Treasuries, while selling at discounts of 20% or greater to their Target Fair Value. The list is then screened for dividend safety, to eliminate sucker yields, and for stable revenues, excluding those with flat or declining FFO/share. seekingalpha.com - 1 month ago
Highwoods Properties: Warm Up To This 7% Yield And Sunbelt Star Highwoods Properties is an attractive investment for income, value, and growth due to its strong Sunbelt market presence and diversified tenant base. HIW's 6.8% dividend yield is well-covered, and the stock is undervalued with a forward P/FFO of 8.6, sitting below its historical average. Recent asset sales and equity issuances have temporarily dipped FFO, but these strategic moves strengthen HIW's portfolio and reduce leverage for long-term growth. seekingalpha.com - 1 month ago
Highwoods Properties, Inc. (HIW) Q4 2024 Earnings Call Transcript Highwoods Properties, Inc. (NYSE:HIW ) Q4 2024 Earnings Conference Call February 12, 2025 11:00 AM ET Company Participants Brendan Maiorana - EVP & CFO Ted Klinck - President & CEO Brian Leary - EVP & COO Conference Call Participants Michael Griffin - Citigroup Ronald Kamdem - Morgan Stanley Robert Stevenson - Janney Montgomery Mike Lewis - Truist Nicholas Thillman - Baird Tom Catherwood - BTIG Dylan Burzinski - Green Street Young Ku - Wells Fargo Vikram Malhotra - Mizuho Omotayo Okusanya - Deutsche Bank Operator Good morning. Thank you for attending today's Highwoods Properties Q4 2024 Earnings Call. seekingalpha.com - 1 month ago
8. Profile Summary

Highwoods Properties, Inc. HIW

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COUNTRY US
INDUSTRY REIT - Office
MARKET CAP $ 2.82 B
Dividend Yield 1.99%
Description Highwoods Properties, Inc., headquartered in Raleigh, is a publicly-traded (NYSE:HIW) real estate investment trust (REIT) and a member of the S&P MidCap 400 Index. Highwoods is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Nashville, Orlando, Pittsburgh, Raleigh, Richmond and Tampa.
Contact 3100 Smoketree Court, Raleigh, NC, 27604 https://www.highwoods.com
IPO Date June 8, 1994
Employees 350
Officers Mr. Ryan Hunt Vice President & Chief Information Officer Mr. Daniel L. Clemmens CPA Vice President & Chief Accounting Officer Mr. Thomas S. Hill III Senior Vice President & Raleigh Market Leader Mr. Daniel E. Woodward Senior Vice President & Tampa Market Leader Mr. Steven J. Garrity Senior Vice President & Orlando Market Leader Mr. Theodore J. Klinck President, Chief Executive Officer & Director Mr. Brian M. Leary Executive Vice President & Chief Operating Officer Mr. Jeffrey D. Miller Executive Vice President, General Counsel & Secretary Mr. Brendan C. Maiorana Executive Vice President & Chief Financial Officer Mr. Carman J. Liuzzo Senior Vice President of Investments