Highwoods Properties, Inc. | REIT Profile

Symbol: HIW
CIK: 921082
Exchange: NYSE
Founded: 1978 (44 years)
HQ: Raleigh, NC, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Office, Industrial, Retail

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See HIW on SEC.gov

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Overall Score: 7.9

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day January 18, 2022


Open Price: $47.1
Closing Price: $46.92
Price Change: -0.37 (-0.782%)
Lowest Price: $46.62
Highest Price: $47.24

52-Week Low: $35.39
52-Week High: $47.93
52-Week Change: 21.14%

5 Day Price Change: 1.03%
1 Month Price Change: 8.61%
3 Month Price Change: 2.68%
6 Month Price Change: 2.82%
YTD Price Change: 6.06%
1 Year Price Change: 21.14%
2 Year Price Change: 3.05%
5 Year Price Change: 13.69%

Dividend of Trading Day January 18, 2022


Dividend Yield: 4.263%*
Annualized Dividend: $2*
Dividend Yield (TTM): 4.079%
Annualized Dividend (TTM): $1.929
Ex-Dividend Date: 2021-11-12
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day January 18, 2022


Total Cash: $27,871,000
Current Debt: $284,952,000
Revenue: $744,706,000
Gross Profit: $744,706,000
Total Revenue: $744,706,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $691,392,000
Revenue Per Share: $7
Revenue Per Employee: N/A
Employee: 359
Debt to Equity Ratio (D/E): 2.42
Profit Margin: 0.36%
Enterprise Value (EV): $7,834,604,712
Enterprise Value to Revenue (EV/R): 10.52
Price to Sales (P/S): 6.61
Price to Book (P/B): 2.09
Price/Earnings-to-Growth (PEG) Ratio: -1.07
P/E Ratio: 18.69
P/E High: 8.40
P/E Low: 5.76
Forward P/E Ratio: 34.90
Market Capitalization: $4,897,653,269
Beta: 0.87
Latest Volume: 957,773
Avg. Total Volume: 943,478
Avg. 10-Day Volume: 866,628
Avg. 30-Day Volume: 943,478
TTM EPS: 2.51
Shares Outstanding: 104,383,062
Float: N/A
50-Day Moving Avg.: $44.68
200-Day Moving Avg.: $45.14

Latest REIT Community Comments on #HIW


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Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $46.44 per share you would have been able to buy 21 shares of HIW on 2021-01-19 costing $975.24 @ $46.44 per share you would have been able to buy 10 shares of HIW on 2021-01-19 costing $464.40 @ $46.44 per share you would have been able to buy 5 shares of HIW on 2021-01-19 costing $232.20 @ $46.44 per share you would have been able to buy 2 shares of HIW on 2021-01-19 costing $92.88 @ $46.44 per share you would have been able to buy 1 shares of HIW on 2021-01-19 costing $46.44
Current worth On 2022-01-18 these 21 shares would be worth $985.32 @ $46.92 On 2022-01-18 these 10 shares would be worth $469.20 @ $46.92 On 2022-01-18 these 5 shares would be worth $234.60 @ $46.92 On 2022-01-18 these 2 shares would be worth $93.84 @ $46.92 On 2022-01-18 these 1 shares would be worth $46.92 @ $46.92
Dividends earned $41.16 in dividends would have been earned since 2021-01-19 with 21 shares. $20 in dividends would have been earned since 2021-01-19 with 10 shares. $9.80 in dividends would have been earned since 2021-01-19 with 5 shares. $3.92 in dividends would have been earned since 2021-01-19 with 2 shares. $1.96 in dividends would have been earned since 2021-01-19 with 10 shares.
Net (gain / loss)* 51.24 USD 24.40 USD 12.20 USD 4.88 USD 2.44 USD
ROI** 5.25% 5.25% 5.25% 5.25% 5.25%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by HIW. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
HIW 2021-11-12 0.500 --- 2021-11-02 2021-11-15 2021-12-07
HIW 2021-08-13 0.500 4.17% 2021-07-27 2021-08-16 2021-09-08
HIW 2021-05-14 0.480 --- 2021-04-15 2021-05-17 2021-06-08
HIW 2021-02-12 0.480 --- 2021-02-02 2021-02-16 2021-03-09
HIW 2020-11-13 0.480 --- 2020-10-15 2020-11-16 2020-12-08
HIW 2020-08-14 0.480 --- 2020-07-28 2020-08-17 2020-09-09
HIW 2020-05-15 0.480 --- 2020-04-28 2020-05-18 2020-06-08
HIW 2020-02-14 0.480 1.05% 2020-02-04 2020-02-18 2020-03-10
HIW 2019-11-07 0.475 --- 2019-10-17 2019-11-11 2019-12-03
HIW 2019-08-09 0.475 --- 2019-07-31 2019-08-12 2019-09-04
HIW 2019-05-10 0.475 --- 2019-04-18 2019-05-13 2019-06-04
HIW 2019-02-15 0.475 2.70% 2019-02-05 2019-02-19 2019-03-05
HIW 2018-11-09 0.463 --- 2018-10-18 2018-11-12 2018-12-04
HIW 2018-08-10 0.463 --- 2018-08-02 2018-08-13 2018-09-05
HIW 2018-05-17 0.463 --- 2018-04-19 2018-05-18 2018-06-05
HIW 2018-02-16 0.463 5.11% 2018-02-06 2018-02-20 2018-03-06
HIW 2017-11-13 0.440 --- 2017-10-19 2017-11-14 2017-12-05
HIW 2017-08-10 0.440 --- 2017-08-02 2017-08-14 2017-09-06
HIW 2017-05-15 0.440 --- 2017-04-20 2017-05-17 2017-06-06
HIW 2017-02-16 0.440 3.53% 2017-02-07 2017-02-21 2017-03-07

Financial Statements Overview


The next Earnings Report for HIW is 2022-02-08

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Current Cash 27,871,000 6,535,000 49,279,000 109,322,000
Receivables 277,502,000 283,530,000 286,869,000 286,869,000
Inventory 0 0 0 0
Current Assets 384,074,000 419,182,000 410,285,000 460,417,000
Current Assets (Other) 77,454,000 127,853,000 72,845,000 62,885,000
Short Term Investments 77,454,000 127,853,000 72,845,000 62,885,000
Long-term Investments 5,369,998,000 4,817,839,000 4,795,029,000 4,749,000,000
Property, Plant & Equipment Net 5,018,689,000 4,548,909,000 4,565,502,000 4,421,285,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 267,405,000 216,318,000 219,790,000 209,329,000
Net Tangible Assets 2,350,991,000 2,316,983,000 2,304,550,000 2,307,298,000
Total Assets 5,754,072,000 5,237,021,000 5,205,314,000 5,209,417,000
Accounts Payable 0 0 0 0
Liabilities (Other) 0 0 0 0
Current Liabilities (Other) 284,952,000 265,296,000 258,026,000 268,727,000
Total Current Liabilities 284,952,000 265,296,000 258,026,000 268,727,000
Current Long-term Debt 0 0 0 0
Long-term Debt 2,942,902,000 2,475,902,000 2,470,472,000 2,470,021,000
Total Liabilities 3,374,260,000 2,891,217,000 2,871,938,000 2,873,293,000
Minority Interest 146,406,000 150,019,000 143,440,000 134,545,000
Common Stock 104,277,000 104,106,000 103,963,000 103,909,000
Retained Earnings -652,254,000 -672,239,000 -681,613,000 -686,225,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 2,379,812,000 2,345,804,000 2,333,376,000 2,336,124,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Total Revenue 195,495,000 185,502,000 183,805,000 179,904,000
Cost of Revenue 0 0 0 0
Gross Profit 195,495,000 185,502,000 183,805,000 179,904,000
Research and Development 0 0 0 0
Selling General and Admin 10,350,000 10,107,000 9,952,000 10,862,000
Operating Expense 137,464,000 128,282,000 127,068,000 129,145,000
Operating Income 58,031,000 57,220,000 56,737,000 50,759,000
Income Expense Net (Other) 0 0 0 215,897,000
EBIT 58,577,000 57,651,000 57,374,000 267,696,000
Interest Income 21,986,000 19,001,000 19,768,000 19,959,000
Pretax Income 75,587,000 61,844,000 56,855,000 85,287,000
Income Tax 0 0 0 0
Minority Interest 2,861,000 1,918,000 1,774,000 2,556,000
Net Income 72,105,000 59,305,000 54,459,000 82,109,000
Net Income Basic 72,105,000 59,305,000 54,459,000 82,109,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Net Income 72,105,000 59,305,000 54,459,000 82,109,000
Depreciation 64,777,000 61,949,000 60,927,000 241,585,000
Changes in Receivables 277,502,000 283,530,000 286,869,000 7,198,000
Changes in Inventories 0 0 0 0
Cash Change 27,871,000 6,535,000 49,279,000 -9,383,000
Cash Flow 111,803,000 114,435,000 82,980,000 358,160,000
Capital Expenditures -44,681,000 -66,271,000 -57,150,000 -363,126,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -144,928,000 -73,500,000 -154,917,000 110,682,000
Dividends Paid 0 0 0 0
Net Borrowings 2,836,330,000 2,340,250,000 2,347,056,000 2,296,473,000
Cash Flow Financing 15,470,000 -40,880,000 -58,929,000 -294,340,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Highwoods Properties, Inc.


Highwoods Properties, headquartered in Raleigh, North Carolina, is a publicly traded (NYSE:HIW) real estate investment trust (“REIT”) and a member of the S&P MidCap 400 Index. The Company is a fully-integrated office REIT that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Memphis, Nashville, Orlando, Pittsburgh, Raleigh, Richmond, Tampa and the Triad.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
5 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.5
9 Dividend to FFO Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Payout Ratios during the last four quarters. 8.8
8 Dividend to FFO Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
8 FFO Trend: Analysis of the REIT’s FFO trend during the last two years. 7.7
7 FFO to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.3
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.0
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.2
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.7
10 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
9 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
6 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
7 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
5 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.2
8 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.2
Rating Properties Section Avg. Rating
7 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
6 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.4
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
10 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
4 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.5
7.9 Overall REITRating™ Score (See trend) 6.1

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-01-19 - v2.9