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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry
vs
history
Cash to Debt 0.01
HIW's Cash to Debt is ranked lower than
58% of the 582 Companies
in the Global REIT - Office industry.

( Industry Median: 0.06 vs. HIW: 0.01 )
HIW' s 10-Year Cash to Debt Range
Min: 0   Max: 0.02
Current: 0.01

0
0.02
Equity to Asset 0.39
HIW's Equity to Asset is ranked higher than
59% of the 590 Companies
in the Global REIT - Office industry.

( Industry Median: 0.49 vs. HIW: 0.39 )
HIW' s 10-Year Equity to Asset Range
Min: 0.31   Max: 0.61
Current: 0.39

0.31
0.61
Interest Coverage 1.50
HIW's Interest Coverage is ranked higher than
60% of the 509 Companies
in the Global REIT - Office industry.

( Industry Median: 2.37 vs. HIW: 1.50 )
HIW' s 10-Year Interest Coverage Range
Min: 0.94   Max: 3.17
Current: 1.5

0.94
3.17
F-Score: 5
Z-Score: 0.03
M-Score: -2.66
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 25.02
HIW's Operating margin (%) is ranked higher than
60% of the 611 Companies
in the Global REIT - Office industry.

( Industry Median: 39.87 vs. HIW: 25.02 )
HIW' s 10-Year Operating margin (%) Range
Min: 20.63   Max: 58.38
Current: 25.02

20.63
58.38
Net-margin (%) 22.53
HIW's Net-margin (%) is ranked higher than
64% of the 612 Companies
in the Global REIT - Office industry.

( Industry Median: 33.54 vs. HIW: 22.53 )
HIW' s 10-Year Net-margin (%) Range
Min: 7.1   Max: 31.43
Current: 22.53

7.1
31.43
ROE (%) 8.49
HIW's ROE (%) is ranked higher than
79% of the 598 Companies
in the Global REIT - Office industry.

( Industry Median: 6.45 vs. HIW: 8.49 )
HIW' s 10-Year ROE (%) Range
Min: 2.96   Max: 8.88
Current: 8.49

2.96
8.88
ROA (%) 3.30
HIW's ROA (%) is ranked higher than
73% of the 602 Companies
in the Global REIT - Office industry.

( Industry Median: 3.17 vs. HIW: 3.30 )
HIW' s 10-Year ROA (%) Range
Min: 1.09   Max: 3.72
Current: 3.3

1.09
3.72
ROC (Joel Greenblatt) (%) 4.21
HIW's ROC (Joel Greenblatt) (%) is ranked higher than
66% of the 500 Companies
in the Global REIT - Office industry.

( Industry Median: 5.42 vs. HIW: 4.21 )
HIW' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 3.54   Max: 7.03
Current: 4.21

3.54
7.03
Revenue Growth (%) 0.90
HIW's Revenue Growth (%) is ranked higher than
72% of the 499 Companies
in the Global REIT - Office industry.

( Industry Median: 0.80 vs. HIW: 0.90 )
HIW' s 10-Year Revenue Growth (%) Range
Min: -12.9   Max: 47.6
Current: 0.9

-12.9
47.6
EBITDA Growth (%) -3.10
HIW's EBITDA Growth (%) is ranked higher than
63% of the 449 Companies
in the Global REIT - Office industry.

( Industry Median: 2.30 vs. HIW: -3.10 )
HIW' s 10-Year EBITDA Growth (%) Range
Min: -26.9   Max: 139.9
Current: -3.1

-26.9
139.9
EPS Growth (%) -8.00
HIW's EPS Growth (%) is ranked higher than
64% of the 355 Companies
in the Global REIT - Office industry.

( Industry Median: 0.30 vs. HIW: -8.00 )
HIW' s 10-Year EPS Growth (%) Range
Min: -59.7   Max: 114
Current: -8

-59.7
114
» HIW's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2013

HIW Guru Trades in Q1 2013

Richard Snow 15,427 sh (+31.16%)
Ruane Cunniff 13,050 sh (unchged)
Jim Simons Sold Out
Chris Davis 78,036 sh (-88.51%)
» More
Q2 2013

HIW Guru Trades in Q2 2013

Jim Simons 739,300 sh (New)
Richard Snow 23,647 sh (+53.28%)
Ruane Cunniff 13,050 sh (unchged)
Chris Davis Sold Out
» More
Q3 2013

HIW Guru Trades in Q3 2013

Richard Snow 33,202 sh (+40.41%)
Ruane Cunniff Sold Out
Jim Simons Sold Out
» More
Q4 2013

HIW Guru Trades in Q4 2013

Steven Cohen 7,403 sh (New)
Richard Snow 39,732 sh (+19.67%)
» More
» Details

Insider Trades

Latest Guru Trades with HIW

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ruane Cunniff 2013-09-30 Sold Out $33.04 - $37.8 $ 39.0710%0
Ruane Cunniff 2011-12-31 Reduce -21.15%$26.51 - $31.54 $ 39.0735%13050
Premium More recent guru trades are included for Premium Members only!!
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Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 27.70
HIW's P/E(ttm) is ranked higher than
55% of the 535 Companies
in the Global REIT - Office industry.

( Industry Median: 19.80 vs. HIW: 27.70 )
HIW' s 10-Year P/E(ttm) Range
Min: 20.58   Max: 135.44
Current: 27.7

20.58
135.44
P/B 2.43
HIW's P/B is ranked lower than
70% of the 555 Companies
in the Global REIT - Office industry.

( Industry Median: 1.24 vs. HIW: 2.43 )
HIW' s 10-Year P/B Range
Min: 0.82   Max: 2.92
Current: 2.43

0.82
2.92
P/S 6.23
HIW's P/S is ranked higher than
63% of the 616 Companies
in the Global REIT - Office industry.

( Industry Median: 6.91 vs. HIW: 6.23 )
HIW' s 10-Year P/S Range
Min: 2.39   Max: 6.86
Current: 6.23

2.39
6.86
EV-to-EBIT 39.33
HIW's EV-to-EBIT is ranked lower than
55% of the 596 Companies
in the Global REIT - Office industry.

( Industry Median: 28.57 vs. HIW: 39.33 )
HIW' s 10-Year EV-to-EBIT Range
Min: 21.4   Max: 56.1
Current: 39.33

21.4
56.1
PEG 27.40
HIW's PEG is ranked lower than
69% of the 256 Companies
in the Global REIT - Office industry.

( Industry Median: 2.40 vs. HIW: 27.40 )
HIW' s 10-Year PEG Range
Min: 13.42   Max: 206.63
Current: 27.4

13.42
206.63
Shiller P/E 45.31
HIW's Shiller P/E is ranked lower than
55% of the 300 Companies
in the Global REIT - Office industry.

( Industry Median: 30.40 vs. HIW: 45.31 )
HIW' s 10-Year Shiller P/E Range
Min: 13.38   Max: 55.92
Current: 45.31

13.38
55.92

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 4.35
HIW's Dividend Yield is ranked lower than
52% of the 611 Companies
in the Global REIT - Office industry.

( Industry Median: 4.77 vs. HIW: 4.35 )
HIW' s 10-Year Dividend Yield Range
Min: 3.71   Max: 10.17
Current: 4.35

3.71
10.17
Dividend Payout 2.54
HIW's Dividend Payout is ranked lower than
60% of the 500 Companies
in the Global REIT - Office industry.

( Industry Median: 0.95 vs. HIW: 2.54 )
HIW' s 10-Year Dividend Payout Range
Min: 0.79   Max: 8.5
Current: 2.54

0.79
8.5
Yield on cost (5-Year) 4.40
HIW's Yield on cost (5-Year) is ranked lower than
56% of the 611 Companies
in the Global REIT - Office industry.

( Industry Median: 5.26 vs. HIW: 4.40 )
HIW' s 10-Year Yield on cost (5-Year) Range
Min: 3.71   Max: 10.17
Current: 4.4

3.71
10.17
Share Buyback Rate -5.50
HIW's Share Buyback Rate is ranked higher than
77% of the 478 Companies
in the Global REIT - Office industry.

( Industry Median: -7.20 vs. HIW: -5.50 )
HIW' s 10-Year Share Buyback Rate Range
Min: 4.6   Max: -63.9
Current: -5.5

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 2.43
HIW's Price/Tangible Book is ranked lower than
64% of the 546 Companies
in the Global REIT - Office industry.

( Industry Median: 1.30 vs. HIW: 2.43 )
HIW' s 10-Year Price/Tangible Book Range
Min: 0.77   Max: 2.38
Current: 2.43

0.77
2.38
Price/DCF (Projected) 7.05
HIW's Price/DCF (Projected) is ranked lower than
70% of the 309 Companies
in the Global REIT - Office industry.

( Industry Median: 1.60 vs. HIW: 7.05 )
HIW' s 10-Year Price/DCF (Projected) Range
Min: 1.67   Max: 6.53
Current: 7.05

1.67
6.53
Price/Median PS Value 1.24
HIW's Price/Median PS Value is ranked higher than
58% of the 550 Companies
in the Global REIT - Office industry.

( Industry Median: 1.10 vs. HIW: 1.24 )
HIW' s 10-Year Price/Median PS Value Range
Min: 0.49   Max: 1.31
Current: 1.24

0.49
1.31
Price/Graham Number 2.43
HIW's Price/Graham Number is ranked lower than
59% of the 503 Companies
in the Global REIT - Office industry.

( Industry Median: 1.00 vs. HIW: 2.43 )
HIW' s 10-Year Price/Graham Number Range
Min: 0.58   Max: 3.49
Current: 2.43

0.58
3.49
Earnings Yield (Greenblatt) 2.50
HIW's Earnings Yield (Greenblatt) is ranked higher than
57% of the 593 Companies
in the Global REIT - Office industry.

( Industry Median: 3.70 vs. HIW: 2.50 )
HIW' s 10-Year Earnings Yield (Greenblatt) Range
Min: 1.8   Max: 4.7
Current: 2.5

1.8
4.7
Forward Rate of Return (Yacktman) 3.46
HIW's Forward Rate of Return (Yacktman) is ranked higher than
74% of the 452 Companies
in the Global REIT - Office industry.

( Industry Median: 1.50 vs. HIW: 3.46 )
HIW' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -10.7   Max: 4.4
Current: 3.46

-10.7
4.4

Business Description

Industry: REITs » REIT - Office
Compare:SLG, ARE, PKY, SIR, PDM » details
Traded in other countries:HQS.Germany
Highwoods Properties, Inc. was incorporated in Maryland in 1994. The Company's business is the operation, acquisition and development of rental real estate properties. It operates office, industrial, retail and residential properties in the Southeastern and Midwestern United States. Its office properties represent around 87.0% of rental and other revenues for the year ended December 31, 2011. Its Strategic Plan focuses on owning high-quality, differentiated real estate assets in the better sub-markets in its core markets; improving the operating results of its existing properties through concentrated leasing, asset management, cost control and customer service efforts; developing and acquiring office properties in in-fill and central business district locations that improve the overall quality of its portfolio and generate attractive returns over the long-term for its stockholders; selectively disposing of properties no longer considered to be core holdings primarily due to location, age, quality and overall strategic fit; and maintaining a conservative, flexible balance sheet with ample liquidity to meet its funding needs and growth prospects. The Company competes with other REITs, financial institutions, pension funds, partnerships, individual investors and others when attempting to acquire, develop and operate properties.

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