Highwoods Properties Inc. Common Stock (HIW)

FairStock Score: 64/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I see Highwoods as a decent asset operator in a difficult property niche. Its best-business-district offices in Atlanta, Charlotte, Dallas, Nashville and other listed markets may support leasing, but office REITs rarely possess a wide moat; demand is the key uncertainty. Filed revenue was $834.0M in fiscal 2023 (year ended 2023-12-31), $825.9M in fiscal 2024 (year ended 2024-12-31) and $806.1M in fiscal 2025 (year ended 2025-12-31), a slow decline. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue rose to $214.0M from $200.4M in fiscal Q1 2025, the quarter ended 2025-03-31, but net income fell to $33.4M from $100.0M and diluted EPS fell to $0.29 from $0.91. The computed Lynch category is SLOW GROWER — Shrinking, with profit down 14.6% a year over five years and revenue growth of only 1.8%. At $30.38 on 2026-10-26, the FairStock P/B is 1.42, not a deep discount. The dividend yield is 6.57%, FCF yield 11.2%, D/E 1.33, Altman Z 0.41, ROE 6.82% and ROCE 2.18%; Piotroski is 7/9. FFO/AFFO, the right REIT measures, are not in the data, so I cannot judge dividend coverage properly. I would call the price fair, with leverage and office demand as the main risks.

In plain English: Highwoods owns and manages office buildings in cities such as Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa. It pays a high dividend and produces solid cash, but profits have been uneven and the company carries meaningful debt in a tough office market. At $30.38, the shares look about fair compared with the value of the company’s assets, not a clear bargain.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-26 close · note generated 2026-10-28 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer