HIW
Highwoods Properties, Inc. Real Estate - Office Investor Relations →
Highwoods Properties, Inc. (HIW) closed at $20.60 as of 2026-03-20, trading 13.5% below its 200-week moving average of $23.81. This places HIW in the extreme value zone. The stock is currently moving closer to the line, down from -10.1% last week. With a 14-week RSI of 26, HIW is in oversold territory.
Over the past 14 weeks, down-weeks have had more trading volume than up-weeks (0.68 buyers-vs-sellers ratio). That means when people are active, they're more often selling than buying. Sellers are still more in control than buyers.
Over the past 1610 weeks of data, HIW has crossed below its 200-week moving average 30 times. On average, these episodes lasted 12 weeks. Historically, investors who bought HIW at the start of these episodes saw an average one-year return of +10.4%.
With a market cap of $2.3 billion, HIW is a mid-cap stock. The company generates a free cash flow yield of 12.3%, which is notably high. Return on equity stands at 6.7%. The stock trades at 1.0x book value.
Share count has increased 4.5% over three years, indicating dilution.
Over the past 30.9 years, a hypothetical investment of $100 in HIW would have grown to $560, compared to $2077 for the S&P 500. HIW has returned 5.7% annualized vs 10.3% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -5.2% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($M)
Revenue Annual revenue ($M) — business growth proxy
Total Debt Balance sheet debt ($M)
ROIC Return on invested capital (%)
FCF Yield Free cash flow / market cap (%) — Yartseva signal
Gross Margin Pricing power & competitive moat (%)
Shares Outstanding Buybacks vs dilution (millions)
Growth of $100: HIW vs S&P 500
Monthly data normalized to $100 at start. Vertical dashed lines mark 200-week MA touches.
What Happens After HIW Crosses Below the Line?
Across 29 historical episodes, buying HIW when it crossed below its 200-week moving average produced an average return of +9.7% after 12 months (median +14.0%), compared to +12.3% for the S&P 500 over the same periods. 68% of those episodes were profitable after one year. After 24 months, the average return was +19.3% vs +24.2% for the index.
Each line shows $100 invested at the moment HIW crossed below its 200-week MA. Bold blue = stock average. Gray dashed = S&P 500 average over same periods.
Historical Touches
HIW has crossed below its 200-week MA 30 times with an average 1-year return of +10.4% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Aug 1998 | Sep 1998 | 4 | 12.4% | +3.0% | +335.2% |
| Oct 1998 | Oct 1998 | 3 | 4.6% | +9.0% | +343.9% |
| Nov 1998 | Nov 1998 | 1 | 1.5% | -3.4% | +325.9% |
| Dec 1998 | May 1999 | 22 | 14.9% | -11.5% | +327.9% |
| May 1999 | Jun 1999 | 1 | 1.3% | +3.2% | +307.9% |
| Jul 1999 | Jun 2000 | 48 | 18.3% | +8.8% | +303.1% |
| Jun 2000 | Jul 2000 | 1 | 1.5% | +22.0% | +298.6% |
| Sep 2000 | Dec 2000 | 11 | 10.0% | +15.1% | +295.7% |
| Oct 2002 | Nov 2002 | 7 | 9.3% | +37.6% | +277.0% |
| Mar 2003 | Mar 2003 | 1 | 0.2% | +40.9% | +265.1% |
| Dec 2007 | Feb 2008 | 6 | 8.9% | -1.4% | +97.9% |
| Mar 2008 | Mar 2008 | 1 | 3.1% | -36.9% | +93.5% |
| Oct 2008 | Aug 2009 | 43 | 43.3% | +26.1% | +100.2% |
| Aug 2009 | Sep 2009 | 1 | 0.4% | +22.0% | +74.5% |
| Oct 2009 | Nov 2009 | 2 | 4.2% | +27.4% | +79.8% |
| Feb 2010 | Feb 2010 | 1 | 1.6% | +27.3% | +72.8% |
| May 2010 | Jun 2010 | 1 | 0.7% | +30.1% | +69.3% |
| Jun 2010 | Jul 2010 | 1 | 3.4% | +30.4% | +74.0% |
| Oct 2011 | Oct 2011 | 1 | 1.4% | +29.7% | +67.2% |
| Nov 2011 | Nov 2011 | 1 | 0.8% | +26.8% | +64.8% |
| Mar 2018 | Mar 2018 | 1 | 3.5% | +15.6% | -20.0% |
| Apr 2018 | Apr 2018 | 2 | 1.7% | +12.6% | -22.7% |
| Oct 2018 | Jan 2019 | 13 | 11.8% | +9.4% | -25.3% |
| Jun 2019 | Jul 2019 | 5 | 5.7% | -7.2% | -27.5% |
| Aug 2019 | Sep 2019 | 5 | 2.3% | -5.3% | -28.4% |
| Oct 2019 | Oct 2019 | 1 | 1.0% | -14.9% | -28.4% |
| Mar 2020 | Mar 2021 | 51 | 36.2% | +14.6% | -24.3% |
| May 2022 | Jul 2024 | 116 | 44.1% | -40.3% | -30.0% |
| Apr 2025 | Apr 2025 | 1 | 2.3% | N/A | -16.1% |
| Feb 2026 | Ongoing | 6+ | 13.5% | Ongoing | -8.9% |
| Average | 12 | — | +10.4% | — |
Frequently Asked Questions
Is HIW below its 200-week moving average?
Yes. As of 2026-03-20, Highwoods Properties, Inc. (HIW) is trading 13.5% below its 200-week moving average of $23.81. The current price is $20.60.
What is HIW's 200-week moving average price?
Highwoods Properties, Inc.'s 200-week moving average is $23.81 as of 2026-03-20. This is the average weekly closing price over roughly the last 4 years, and it acts as a long-term trend line. When a stock drops below this level, it can signal that the price has fallen far enough from the long-term trend to attract value-oriented investors.
What happens when HIW drops below its 200-week moving average?
HIW has crossed below its 200-week moving average 30 times in our data. On average, buying at that moment produced a one-year return of +10.4%. These dips have historically been decent entry points. These episodes lasted 12 weeks on average.
Is HIW a good value right now?
Here's what our data says about HIW as of 2026-03-20: The stock is below its 200-week moving average, which is the starting point for our analysis. The 14-week RSI is 26 (oversold). Free cash flow yield is 12.3%. Return on equity is 6.7%. Price-to-book is 1.0x. This is not a buy or sell recommendation — always do your own research.
How does HIW compare to the S&P 500?
Over the past 30.9 years, $100 invested in HIW would have grown to $560, compared to $2077 for the S&P 500. That's 5.7% annualized vs 10.3% for the index. HIW has underperformed the broader market over this period.
Does HIW pay a dividend?
Yes. Highwoods Properties, Inc. currently pays a dividend yield of 971.00%.
Not financial advice. This is an educational tool. Past performance does not guarantee future results. Do your own research before making investment decisions.
Data as of week of 2026-03-20