HIW Stock Overview
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 Properties Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$44.08|
|52 Week High||US$48.98|
|52 Week Low||US$37.01|
|1 Month Change||1.01%|
|3 Month Change||-5.00%|
|1 Year Change||10.81%|
|3 Year Change||2.04%|
|5 Year Change||-16.26%|
|Change since IPO||107.43%|
Recent News & Updates
Highwoods Properties: Upside Potential Doesn't Stop Here
Highwoods Properties has done well to continue reinventing itself in these admittedly difficult times. Even so, the company has achieved solid returns for investors, though these returns have trailed the broader market slightly. Upside potential still seems to exist for investors moving forward.
Highwoods Properties: You May Have Overlooked This Undervalued Gem
Highwoods Properties is a high-quality player in the office REIT sector, investing in what it calls "better business districts". It's executing well with strong business fundamentals, including growing rents and occupancy. HIW continues to strategically recycle capital, and has a sizeable land bank upon which to build.
Highwoods Properties: The Dividend Raise Is Music To Investors' Ears
Highwoods Properties is a high-quality office REIT with a strategic focus on growing secondary markets. It's seeing strong operating metrics, and has a robust development pipeline currently underway. Management has communicated their confidence with the recent dividend raise, and I also highlight the balance sheet and valuation.
|HIW||US REITs||US Market|
Return vs Industry: HIW underperformed the US REITs industry which returned 25.7% over the past year.
Return vs Market: HIW exceeded the US Market which returned 7.7% over the past year.
|HIW Average Weekly Movement||3.5%|
|REITs Industry Average Movement||4.0%|
|Market Average Movement||6.6%|
|10% most volatile stocks in US Market||15.7%|
|10% least volatile stocks in US Market||2.4%|
Stable Share Price: HIW is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: HIW's weekly volatility (4%) has been stable over the past year.
About the Company
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.
Highwoods Properties Fundamentals Summary
|HIW fundamental statistics|
Is HIW overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|HIW income statement (TTM)|
|Cost of Revenue||US$230.59m|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
Feb 08, 2022
|Earnings per share (EPS)||2.50|
|Net Profit Margin||35.86%|
How did HIW perform over the long term?See historical performance and comparison
4.5%Current Dividend Yield
Is Highwoods Properties undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: HIW ($44.08) is trading below our estimate of fair value ($71.19)
Significantly Below Fair Value: HIW is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: HIW is good value based on its PE Ratio (17.6x) compared to the US REITs industry average (45.5x).
PE vs Market: HIW is poor value based on its PE Ratio (17.6x) compared to the US market (16.9x).
Price to Earnings Growth Ratio
PEG Ratio: HIW's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: HIW's PB Ratio (2x) is in line with the US REITs industry average.
How is Highwoods Properties forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: HIW's earnings are forecast to decline over the next 3 years (-2.5% per year).
Earnings vs Market: HIW's earnings are forecast to decline over the next 3 years (-2.5% per year).
High Growth Earnings: HIW's earnings are forecast to decline over the next 3 years.
Revenue vs Market: HIW's revenue (3.4% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: HIW's revenue (3.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: HIW's Return on Equity is forecast to be low in 3 years time (6.3%).
How has Highwoods Properties performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: HIW has a large one-off gain of $124.2M impacting its September 30 2021 financial results.
Growing Profit Margin: HIW's current net profit margins (35.9%) are lower than last year (42.9%).
Past Earnings Growth Analysis
Earnings Trend: HIW's earnings have grown by 19% per year over the past 5 years.
Accelerating Growth: HIW's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: HIW had negative earnings growth (-16.9%) over the past year, making it difficult to compare to the REITs industry average (29.5%).
Return on Equity
High ROE: HIW's Return on Equity (11.1%) is considered low.
How is Highwoods Properties's financial position?
Financial Position Analysis
Short Term Liabilities: HIW's short term assets ($461.7M) exceed its short term liabilities ($253.1M).
Long Term Liabilities: HIW's short term assets ($461.7M) do not cover its long term liabilities ($3.0B).
Debt to Equity History and Analysis
Debt Level: HIW's net debt to equity ratio (115.4%) is considered high.
Reducing Debt: HIW's debt to equity ratio has increased from 82.5% to 116.5% over the past 5 years.
Debt Coverage: HIW's debt is not well covered by operating cash flow (13.3%).
Interest Coverage: HIW's interest payments on its debt are not well covered by EBIT (2.9x coverage).
What is Highwoods Properties's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: HIW's dividend (4.54%) is higher than the bottom 25% of dividend payers in the US market (1.34%).
High Dividend: HIW's dividend (4.54%) is in the top 25% of dividend payers in the US market (3.49%)
Stability and Growth of Payments
Stable Dividend: HIW's dividends per share have been stable in the past 10 years.
Growing Dividend: HIW's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (52.1%), HIW's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: HIW's dividends in 3 years are forecast to be covered by earnings (51.5% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Ted Klinck (55 yo)
Mr. Theodore J. Klinck, also known as Ted, has been Chief Executive Officer and Director at Highwoods Properties, Inc. since September 1, 2019 and has been its President November 28, 2018. He served as Chi...
CEO Compensation Analysis
Compensation vs Market: Ted's total compensation ($USD3.32M) is below average for companies of similar size in the US market ($USD5.15M).
Compensation vs Earnings: Ted's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: HIW's management team is considered experienced (2.8 years average tenure).
Experienced Board: HIW's board of directors are considered experienced (7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Highwoods Properties, Inc.'s employee growth, exchange listings and data sources
- Name: Highwoods Properties, Inc.
- Ticker: HIW
- Exchange: NYSE
- Founded: 1978
- Industry: Office REITs
- Sector: Real Estate
- Implied Market Cap: US$4.730b
- Market Cap: US$4.601b
- Shares outstanding: 107.22m
- Website: https://www.highwoods.com
Number of Employees
- Highwoods Properties, Inc.
- 3100 Smoketree Court
- Suite 600
- North Carolina
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/20 23:55|
|End of Day Share Price||2022/01/20 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.