Highwoods Properties
Owns, develops, acquires, leases, and manages offices across eight U.S. markets.
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Profile
Owns, develops, acquires, leases, and manages office properties across eight U.S. markets. Its fully integrated REIT model centers on best business districts and operates through Highwoods Realty Limited Partnership.
Property activity spans ownership, development, acquisition, leasing, and management of office buildings in best business districts. The platform serves Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa, giving it a concentrated U.S. footprint rather than an international property base.
Its portfolio includes in-service properties, projects under development, and land intended for future office build-out. Operations are fully integrated, connecting ownership, development, leasing, and property management in one platform. The business is organized as a REIT and carries out its property activities through Highwoods Realty Limited Partnership, its operating partnership.
Company facts
Categories
Key statistics
Year to date +20.4% · Average volume (30d) 1.2M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Deutsche Bank | Downgrade | Buy | Hold | $28 | $33 |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Equal Weight | $22 | $35 | |
| Jul 21, 2026 | Mizuho Securities | Target | $25 | $30 | ||
| Jun 26, 2026 | Truist Financial | Target | $33 | $30 | ||
| May 14, 2026 | Deutsche Bank | Target | $27 | $28 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q2 FY26 | $0.43 | $0.85 | +98.4% | $212.1M | $216.4M | +2.0% | +2.26% |
| Apr 28, 2026Q1 FY26 | $0.84 | $0.84 | 0.0% | $209.1M | $214.0M | +2.4% | −4.78% |
| Feb 10, 2026Q4 FY25 | $0.84 | $0.26 | −69.0% | $208.3M | $203.4M | −2.4% | −10.16% |
| Oct 28, 2025Q3 FY25 | $0.86 | $0.86 | 0.0% | $208.2M | $201.8M | −3.1% | −3.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $200.4M | $200.6M | $201.8M | $203.4M | $214.0M | $216.4M | |
| Gross profit | $135.3M | $136.9M | $135.9M | $136.6M | $142.9M | $146.2M | |
| Operating income | $51.5M | $51.9M | $53.0M | $53.1M | $51.9M | $57.3M | |
| Net income | $98.1M | $18.9M | $13.5M | $29.2M | $31.9M | $94.0M | |
| Diluted EPS | $0.90 | $0.17 | $0.12 | $0.26 | $0.29 | $0.85 | |
| Gross margin | 67.5% | 68.3% | 67.3% | 67.2% | 66.8% | 67.6% | |
| Operating margin | 25.7% | 25.9% | 26.2% | 26.1% | 24.3% | 26.5% |
Fiscal years (4-quarter sums)FY21 $768.3M · FY22 $829.4M · FY23 $834.0M · FY24 $827.1M · FY25 $806.1M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $145.4M · Total debt $3.52B · Total assets $6.47B · Shareholders' equity $2.39B
Dividends
Raised for 22 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 17, 2026 | Aug 17 | Sep 9 | $0.50 | |
| May 18, 2026 | May 18 | Jun 9 | $0.50 | |
| Feb 17, 2026 | Feb 17 | Mar 10 | $0.50 | |
| Nov 17, 2025 | Nov 17 | Dec 9 | $0.50 | |
| Aug 18, 2025 | Aug 18 | Sep 9 | $0.50 | |
| May 19, 2025 | May 19 | Jun 10 | $0.50 | |
| Feb 18, 2025 | Feb 18 | Mar 11 | $0.50 | |
| Nov 18, 2024 | Nov 18 | Dec 10 | $0.50 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 110.30M · Float 107.94M · 97.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 21.01M | 19.05% | 13F | Aug 7, 2026 |
| Cohen & Steers, Inc. | 16.83M | 15.26% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 12.04M | 10.91% | 13F | Aug 13, 2026 |
| State Street Corp | 7.59M | 6.88% | 13F | Aug 7, 2026 |
| Massachusetts Financial Services Co /MA/ | 5.86M | 5.31% | 13F | Aug 3, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 17, 2025 | David John Hartzell | director | −4,300 | $32.10 |
Peers
- Cousins Properties
Class A Sun Belt office owner in five shared markets
- Piedmont Realty Trust
Class A office landlord in Atlanta, Dallas, and Orlando
- Franklin Street Properties
Dallas-area office landlord
- AH Realty Trust
Office owner in Atlanta and Charlotte
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Highwoods Properties | $31.01 | −0.45% | $3.44B | 20.5 | 37.0 | 4.1 | +7.2% |
| Cousins Properties | $29.40 | −0.15% | $4.85B | 719.8 | 76.7 | 4.7 | +10.7% |
| Piedmont Realty Trust | $9.54 | −0.05% | $1.19B | — | — | 2.1 | +2.7% |
| Franklin Street Properties | $0.4100 | +1.11% | $42.2M | — | — | 0.4 | −1.4% |
| AH Realty Trust | $6.54 | −0.15% | $627.3M | — | — | 3.6 | — |
| Median | 719.8 | 76.7 | 2.8 | +2.7% |