Highwoods Properties (FRA:HQS) Dividend Payout Ratio: 2.51 (As of Mar. 2026) — 61% Above Median

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Highwoods Properties Inc FRA:HQS

70 GF Score

Price €28.00

GF Value €22.91

Valuation Modestly Overvalued

13 Warning Signs

View Full Analysis

What is Highwoods Properties Dividend Payout Ratio?

Highwoods Properties FRA:HQS +2.19% 70 Dividend Payout Ratio is 2.51 as of Mar. 2026, which is 61% above its 10-year median of 1.56. GuruFocus rates FRA:HQS with a GF Score™ of 70/100 and a GF Value™ of €22.91 (Modestly Overvalued). The stock has 13 warning signs investors should review. Among 712 REITs companies, Highwoods Properties ranks worse than 87.08% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Highwoods Properties's Dividend Payout Ratio for the months ended in Mar. 2026 was 2.51.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Highwoods Properties Inc is 2.99, which seems too high.

The historical rank and industry rank for Highwoods Properties's Dividend Payout Ratio or its related term are showing as below:

FRA:HQS' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 1.04 Med: 1.56 Max: 2.99
Current: 2.99

During the past 13 years, the highest Dividend Payout Ratio of Highwoods Properties was 2.99. The lowest was 1.04. And the median was 1.56.

FRA:HQS's Dividend Payout Ratio is ranked worse than
87.08% of 712 companies
in the REITs industry
Industry Median: 0.99 vs FRA:HQS: 2.99

As of today (2026-07-15), the Dividend Yield % of Highwoods Properties is 6.14%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Highwoods Properties was 11.24%. The lowest was 3.05%. And the median was 4.84%.

Highwoods Properties's Dividends per Share for the months ended in Mar. 2026 was €0.43.

During the past 5 years, the average Dividends Per Share Growth Rate was 0.80% per year. During the past 10 years, the average Dividends Per Share Growth Rate was 1.90% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Highwoods Properties was 58.20% per year. The lowest was -10.10% per year. And the median was 0.00% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Highwoods Properties (FRA:HQS) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Highwoods Properties Dividend Payout Ratio Related Terms

Highwoods Properties Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Highwoods Properties's Dividend Payout Ratio 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.

Highwoods Properties Dividend Payout Ratio Chart

Highwoods Properties Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Dividend Payout Ratio

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1.09

1.55

2.10

2.57

2.56

Highwoods Properties Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															1.57	2.95	3.52	3.19	2.51

FRA:HQS vs SLG, CDP, KRC: Dividend Payout Ratio Comparison

For the REIT - Office subindustry, Highwoods Properties's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio 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 Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Highwoods Properties's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Highwoods Properties's Dividend Payout Ratio falls into.

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70GF Score

Highwoods Properties Inc FRA:HQS

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Highwoods Properties Dividend Payout Ratio Calculation

Highwoods Properties's Dividend Payout Ratio for the fiscal year that ended in Dec. 2025 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Dec. 2025 )	/	EPS without NRI (A: Dec. 2025 )
	=	1.708	/	0.667
	=	2.56

Highwoods Properties's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.432	/	0.172
	=	2.51

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 2.51 mean?

Highwoods Properties (FRA:HQS) has a Dividend Payout Ratio of 2.51 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Highwoods Properties and its competitors. This is 61% above median its historical median of 1.56. Over the past decade, Highwoods Properties' Dividend Payout Ratio has ranged from 1.04 to 2.99. According to the industry distribution chart, Highwoods Properties ranks #620 out of 712 companies in the REITs industry, placing it in the top 87.1%.

Is Highwoods Properties' Dividend Payout Ratio too high?

Highwoods Properties' current Dividend Payout Ratio of 2.51 is 61% above median its 10-year median of 1.56. Over the past 10 years, this metric has ranged from a low of 1.04 to a high of 2.99. The REITs industry median Dividend Payout Ratio is 0.99. Highwoods Properties' value of 2.51 is 153.5% above this industry median. Based on the distribution chart, Highwoods Properties ranks #620 out of 712 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Highwoods Properties has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Highwoods Properties' Dividend Payout Ratio compare to SLG and CDP?

According to the REITs industry distribution chart, Highwoods Properties ranks #620 out of 712 companies for Dividend Payout Ratio. This places Highwoods Properties in the lower half of its industry. The industry median Dividend Payout Ratio is 0.99. Highwoods Properties' value of 2.51 is 153.5% above this benchmark. Historically, Highwoods Properties' own Dividend Payout Ratio has ranged from 1.04 to 2.99 over the past decade. While the company's 10-year median is 1.56 vs. the industry median of 0.99, Highwoods Properties has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a REITs company?

The median Dividend Payout Ratio among REITs companies is 0.99, based on 712 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Highwoods Properties's current Dividend Payout Ratio of 2.51 is 153.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Highwoods Properties and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Highwoods Properties's current Dividend Payout Ratio is 2.51, which is 61% above median its own 10-year median of 1.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Highwoods Properties stock overvalued right now?

Based on GuruFocus' analysis, Highwoods Properties (FRA:HQS) is currently considered Modestly Overvalued. The stock's GF Value™ is €22.91, compared to a current price of €28.00 — trading 22.2% above its estimated fair value. The current Dividend Payout Ratio is 2.51, which is 61% above median its 10-year median of 1.56 and 153.5% above the REITs industry median of 0.99. Highwoods Properties' overall GF Score™ is 70/100 with 13 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Highwoods Properties (FRA:HQS), the current Dividend Payout Ratio is 2.51 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Highwoods Properties (FRA:HQS) Overvalued in 2026?

Based on GuruFocus' analysis, Highwoods Properties stock appears to be overvalued. The current stock price of €28.00 is trading 22.2% above its estimated GF Value™ of €22.91. GuruFocus considers Highwoods Properties to be Modestly Overvalued.

Key valuation signals for FRA:HQS:

Dividend Payout Ratio: 2.51 (61% above median its 10-year median of 1.56)
GF Value™: €22.91 vs. price of €28.00 (22.2% above fair value)
GF Score™: 70/100 with 13 warning signs
Industry Position: 153.5% above the REITs median (#620 of 712)

No single metric tells the full story. See the FRA:HQS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Highwoods Properties Business Description

Industry Real Estate REITs

Comparable Companies SLG CDP KRC DEI CUZ ESBA PDM DEA HPP PSTL XMAD:MRL BXP ARE VNO TSE:8951 XPAR:GFC TSE:8952 SGX:N2IU ASX:DXS SGX:AJBU

Other Exchanges HIW:USA HIWP34:Brazil

Address 150 Fayetteville Street, Suite 1400, Raleigh, NC, USA, 27601

Website https://www.highwoods.com

Highwoods Properties Inc is a fully integrated office REIT that owns, develops, acquires, leases, and manages office properties mainly in the best business districts of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond, and Tampa. Its principal business is the operation, acquisition, and development of rental office properties, with no material inter-segment transactions. The Company evaluates performance by geographic location, and the operating results by geographic grouping are regularly reviewed by the chief operating decision maker. The core portfolio consists mainly of office properties in its key markets, with the majority of revenue derived from its Raleigh properties.

70GF Score

Get the complete analysis for FRA:HQS

Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€28.00

Price

€22.91

GF Value

View FRA:HQS Analysis

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