Highwoods Properties (HIW)

Q: What's priced into Highwoods Properties (HIW) stock?

The valuation evidence describes HIW as cheap versus peers, with expectations in line with the model and low fragility. That suggests the current setup is not relying on unusually high expectations, though confidence in the valuation read is medium.

Q: What does the Highwoods Properties (HIW) outlook hinge on?

Over the next one to three years, the thesis could benefit if the Fed begins cutting rates or if sector bellwethers BXP, ARE, and VNO continue to report strong results and raise guidance. The sector support could weaken if those companies miss or lower guidance; the evidence also flags recent misses across the industry, although the stated near-term miss probability is low.

NYSEReal EstateReit - OfficeSnapshot 2026-10-23

$30.51+0.13%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Highwoods Properties’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	219.06M
EPS	—	0.183
Annual ending 2026-12-31
Revenue	—	866.5M
EPS	—	1.207
Annual ending 2027-12-31
Revenue	—	895.05M
EPS	—	0.675

Management figures unavailable.

What the Thesis Depends On

4 published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Extend maturity of $150M term loan to 2029	Highwoods Properties extended its $150M loan maturity to 2029.	Intact	Loan maturity not extended or shortened before 2029	Maturity extended to June 2029 vs target June 2029 On June 3, 2026, HIW modified its $150M term loan to extend maturity from May 2027 to June 2029. Context reviewed through Oct 23, 2026Last status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Newly stated in 2026-Q2. Management extended the maturity of the $150 million unsecured bank term loan from May 2027 to June 2029 as disclosed in June 2026. This is a recent capital allocation action with no prior quarters stating this priority. Delivery assessment Sep 2, 2026
Dividend yield near 6%	The company has a strong balance sheet and pays a 6% dividend yield.	Under Pressure	Dividend yield falls below 4.5%	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth of about 5.5% next year	Analysts expect revenue to grow about 5.5% next year.	Intact	YoY revenue growth falls below 5.5% next year	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Price to earnings ratio below 20	A supporting condition in Highwoods Properties's published investment case. The stated target is <=20 PE.	Intact	PE remains above 30	P/E (TTM): 24.41x As of 2026-10-23; trailing twelve months. The target timing and basis require a separate assessment. Market data as of Oct 23, 202624.408 ratio · calculatedLast status assessment Oct 24, 2026 Measurement source consolidated · TTM valuation Period ending Oct 23, 2026 Source: mart.stock_valuation_daily. Reference: HIW:2026-10-23. Source status: canonical calculation. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS: comparable history unavailable.

FY2027 revenueUnavailable

Unavailable → Unavailable · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	Unavailable	Unavailable	2 / 2
2026-07-25	Unavailable	Unavailable	1 / 4
2026-07-26	Unavailable	Unavailable	1 / 4
2026-07-27	Unavailable	Unavailable	2 / 3
2026-07-28	Unavailable	Unavailable	2 / 3
2026-07-29	Unavailable	Unavailable	2 / 3
2026-07-30	Unavailable	Unavailable	1 / 4
2026-07-31	Unavailable	Unavailable	1 / 3
2026-08-01	Unavailable	Unavailable	2 / 2
2026-08-02	Unavailable	Unavailable	1 / 3
2026-08-03	Unavailable	Unavailable	2 / 2
2026-08-04	Unavailable	Unavailable	1 / 3
2026-08-05	Unavailable	Unavailable	1 / 3
2026-08-06	Unavailable	Unavailable	1 / 3
2026-08-07	Unavailable	Unavailable	2 / 2
2026-08-08	Unavailable	Unavailable	1 / 4
2026-08-09	Unavailable	Unavailable	1 / 4
2026-08-10	Unavailable	Unavailable	1 / 4
2026-08-12	Unavailable	$889,173,120	1 / 5
2026-08-13	Unavailable	$889,173,120	1 / 5
2026-08-14	Unavailable	Unavailable	2 / 2
2026-08-15	Unavailable	Unavailable	2 / 3
2026-08-16	Unavailable	Unavailable	2 / 3
2026-08-17	Unavailable	Unavailable	2 / 3
2026-08-18	Unavailable	Unavailable	2 / 3
2026-08-19	Unavailable	Unavailable	2 / 3
2026-08-20	Unavailable	Unavailable	2 / 4
2026-08-21	Unavailable	Unavailable	2 / 4
2026-08-22	Unavailable	Unavailable	2 / 4
2026-08-23	Unavailable	Unavailable	2 / 4
2026-08-24	Unavailable	Unavailable	2 / 4
2026-08-25	Unavailable	Unavailable	2 / 4
2026-08-26	Unavailable	Unavailable	2 / 4
2026-08-27	Unavailable	Unavailable	2 / 4
2026-08-28	Unavailable	Unavailable	2 / 4
2026-08-29	Unavailable	Unavailable	2 / 4
2026-08-30	Unavailable	Unavailable	2 / 4
2026-08-31	Unavailable	Unavailable	2 / 4
2026-09-01	Unavailable	Unavailable	2 / 4
2026-09-02	Unavailable	Unavailable	2 / 4
2026-09-03	Unavailable	Unavailable	2 / 4
2026-09-04	Unavailable	Unavailable	2 / 4
2026-09-05	Unavailable	Unavailable	2 / 4
2026-09-06	Unavailable	Unavailable	2 / 4
2026-09-07	Unavailable	Unavailable	2 / 4
2026-09-08	Unavailable	Unavailable	2 / 4
2026-09-09	Unavailable	Unavailable	2 / 4
2026-09-10	Unavailable	Unavailable	2 / 4
2026-09-11	Unavailable	Unavailable	2 / 4
2026-09-12	Unavailable	Unavailable	2 / 4
2026-09-13	Unavailable	Unavailable	2 / 4
2026-09-14	Unavailable	Unavailable	2 / 4
2026-09-15	Unavailable	Unavailable	2 / 4
2026-09-16	Unavailable	Unavailable	2 / 4
2026-09-17	Unavailable	Unavailable	2 / 4
2026-09-18	Unavailable	Unavailable	2 / 4
2026-09-19	Unavailable	Unavailable	2 / 4
2026-09-20	Unavailable	Unavailable	2 / 4
2026-09-21	Unavailable	Unavailable	2 / 4
2026-09-22	Unavailable	Unavailable	2 / 4
2026-09-23	Unavailable	Unavailable	2 / 4
2026-09-24	Unavailable	Unavailable	2 / 4
2026-09-25	Unavailable	Unavailable	2 / 4
2026-09-26	Unavailable	Unavailable	2 / 4
2026-09-27	Unavailable	Unavailable	2 / 4
2026-09-28	Unavailable	Unavailable	2 / 4
2026-09-29	Unavailable	Unavailable	2 / 4
2026-09-30	Unavailable	Unavailable	2 / 4
2026-10-01	Unavailable	Unavailable	2 / 4
2026-10-02	Unavailable	Unavailable	2 / 4
2026-10-03	Unavailable	Unavailable	2 / 4
2026-10-04	Unavailable	Unavailable	2 / 4
2026-10-05	Unavailable	Unavailable	2 / 4
2026-10-06	Unavailable	Unavailable	2 / 4
2026-10-07	Unavailable	Unavailable	2 / 4
2026-10-08	Unavailable	Unavailable	2 / 4
2026-10-09	Unavailable	Unavailable	2 / 4
2026-10-10	Unavailable	Unavailable	2 / 4
2026-10-11	Unavailable	$891,890,086	2 / 5
2026-10-12	Unavailable	$891,890,086	2 / 5
2026-10-13	Unavailable	$891,890,086	2 / 5
2026-10-14	Unavailable	$891,890,086	2 / 5
2026-10-15	Unavailable	$891,890,086	2 / 5
2026-10-16	Unavailable	Unavailable	2 / 4
2026-10-17	Unavailable	Unavailable	2 / 4
2026-10-18	Unavailable	Unavailable	2 / 4
2026-10-19	Unavailable	Unavailable	2 / 4
2026-10-20	Unavailable	Unavailable	2 / 4
2026-10-21	Unavailable	Unavailable	2 / 4
2026-10-22	Unavailable	Unavailable	2 / 4
2026-10-23	Unavailable	Unavailable	2 / 4
2026-10-24	Unavailable	Unavailable	2 / 4

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	2	8
2026-06-01	2	8
2026-07-01	2	8
2026-08-01	2	9
2026-09-01	1	9
2026-10-01	1	9

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 1 Buy / Strong Buy · 9 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades0 maintains

Recent actions · Sep 25–Oct 24 · 0 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Dividend yield near 6%Published status: Under Pressure
Revenue growth of about 5.5% next yearDirect metric needs a verified mapping
Price to earnings ratio below 20P/E (TTM): 24.41x

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.0%Typical daily move · historical

Downside history

-28.0%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Highwoods Properties outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

HIW is a real estate investment with a moderate risk profile and a neutral recent financial performance signal. The long-term thesis is intact, while company momentum and quality scores have improved; evidence on management execution is mixed.

What's priced into Highwoods Properties

The valuation evidence describes HIW as cheap versus peers, with expectations in line with the model and low fragility. That suggests the current setup is not relying on unusually high expectations, though confidence in the valuation read is medium.

What the fundamentals likely do

From 2025-Q2 to 2026-Q2, revenue rose from $200.6 million to $216.4 million, and operating income rose from $136.9 million to $146.2 million. Near term, management has extended a $150 million term loan maturity to June 2029 and has disclosed attention to borrowing costs, but execution evidence is mixed and the sector backdrop is a headwind.

What Highwoods Properties hinges on