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HIW (Highwoods Properties) Earnings Yield (Joel Greenblatt) % : 4.21% (As of Sep. 2024)


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What is Highwoods Properties Earnings Yield (Joel Greenblatt) %?

Highwoods Properties's Enterprise Value for the quarter that ended in Sep. 2024 was $6,929.9 Mil. Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Sep. 2024 was $292.0 Mil. Highwoods Properties's Earnings Yield (Joel Greenblatt) for the quarter that ended in Sep. 2024 was 4.21%.

The historical rank and industry rank for Highwoods Properties's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

HIW' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 2.25   Med: 3.79   Max: 7.37
Current: 4.43

During the past 13 years, the highest Earnings Yield (Joel Greenblatt) of Highwoods Properties was 7.37%. The lowest was 2.25%. And the median was 3.79%.

HIW's Earnings Yield (Joel Greenblatt) % is ranked better than
66.02% of 983 companies
in the REITs industry
Industry Median: 2.92 vs HIW: 4.43

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Highwoods Properties's Forward Rate of Return (Yacktman) % for the quarter that ended in Sep. 2024 was 11.35%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Highwoods Properties Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Highwoods Properties's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Highwoods Properties Earnings Yield (Joel Greenblatt) % Chart

Highwoods Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.87 6.61 5.38 4.32 5.06

Highwoods Properties Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.99 5.06 4.48 4.91 4.21

Competitive Comparison of Highwoods Properties's Earnings Yield (Joel Greenblatt) %

For the REIT - Office subindustry, Highwoods Properties's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Highwoods Properties's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Highwoods Properties's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Highwoods Properties's Earnings Yield (Joel Greenblatt) % falls into.



Highwoods Properties Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Highwoods Propertiess Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=288.04/5698.2406
=5.05 %

Highwoods Properties's EBIT for the trailing twelve months (TTM) ended in Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $292.0 Mil.



Highwoods Properties  (NYSE:HIW) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Highwoods Properties Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Highwoods Properties's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Highwoods Properties Business Description

Industry
Traded in Other Exchanges
Address
150 Fayetteville Street, Suite 1400, Raleigh, NC, USA, 27601
Highwoods Properties Inc is a real estate investment trust engaged in the acquisition, ownership, management, and leasing of properties in urban areas throughout the Southern United States. In terms of total square footage, the vast majority of the company's real estate portfolio comprises office buildings in terms. Highwoods Properties derives nearly all of its income in the form of rental revenue from the tenants of its buildings. The majority of this revenue comes from its holdings in the urban markets of Atlanta, Raleigh, Nashville, and Tampa. These cities also account for the majority of the square footage under the company's ownership. Highwoods Properties' largest customers include the U.S. Government, financial services firms, industrial supply retailers, and healthcare companies.
Executives
David John Hartzell director 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Brian M Leary officer: EVP & COO 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Theodore J Klinck officer: VP/Chief Investment Officer 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Brendan C Maiorana officer: EVP of Finance & IR 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Jeffrey Douglas Miller officer: General Counsel & Sec. 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
David L Gadis director 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Mark F Mulhern director 410 S. WILMINGTON STREET, RALEIGH NC 27601
Thomas P Anderson director 3751 GRISSOM PARKWAY, SUITE 100, MYRTLE BEACH SC 29577
Carlos E Evans director 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27616
Anne H Lloyd director
Sherry A Kellett director
Edward J Fritsch director, officer: EVP & COO
Kevin E Penn officer: VP/Chief Strategy & Admin 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604
Michael E Harris officer: Sr. Vice President
Terry L Stevens officer: VP, CFO & Treasurer 3100 SMOKETREE COURT, SUITE 600, RALEIGH NC 27604