# Highwoods Properties Inc. (HIW) fundamentals

Data as of 2026-11-04. NYSE, United States. Sector: Real Estate / Office REITs. Price $30.81, market value $3.5 billion.

## Valuation
- **P/E (trailing): 18.3×** (5-yr avg 17.0×, 3-yr avg 20.0×). Highwoods Properties Inc. trades at 18.3× trailing earnings, close to its own five-year average of 17.0×. The Real Estate median in the September 2026 study was 25.2×. Forward P/E is 54.1×, higher than trailing, so analysts expect earnings to fall.
- **PEG: 1.00**. A PEG of 1.00 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 4.1×**. Each dollar of revenue is priced at 4.1×.
- **Price / book: 1.4×**. The shares trade at 1.4× book value; book value is a meaningful part of the valuation.
- **Earnings yield: 5.5%**. The inverse of the P/E: 5.5% of the price is earned each year.

## Profitability
- **Operating margin: 56.4%**. 56.4% of revenue is left after running the business, an exceptional level.
- **Net margin: 20.2%**. 20.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 6.8%**. 6.8% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on assets: 1.7%**. Each dollar of assets produces 1.7% of profit.

## Growth
- **Revenue growth (1 yr): -2.4%** (3-yr -0.9%/yr, 5-yr 1.8%/yr). Revenue fell 2.4% over the last year, against 1.8% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 54.3%** (3-yr -0.9%/yr, 5-yr -15.3%/yr). Earnings per share rose 54.3%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Altman Z-score: 1.49**. A Z-score of 1.49 is in the distress zone, a signal to examine the balance sheet closely.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 6.49%** ($2.00 per share, trailing). Highwoods Properties Inc. yields 6.49%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 133%**. The dividend exceeds earnings (133% payout), which is rarely sustainable outside REITs and one-off years.
- **Consecutive years of increases: 8**. 8 straight years of increases.
- **Dividend growth (5 yr): 0.8%/yr** (1-yr 0.0%). The dividend has grown 0.8% a year over five years.

## Analyst view
- **Analyst consensus: hold** (9 analysts). 9 analysts cover Highwoods Properties Inc.; the consensus is hold, with an average price target of $31.33 (+2% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 16.0%** (YTD 26.4%, 3-mo -6.0%). The shares are up 16.0% over twelve months including dividends.
- **From 52-week high: -13.1%** (50.7% above the low). Trading 13% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 60**. An RSI of 60 is neutral.
- **Beta (1 yr): 0.48** (volatility 29%). Beta of 0.48 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=HIW · Page: https://foliofundamentals.com/stocks/hiw

Not investment advice.