HIW
Highwoods Properties, Inc. Real Estate - Office Investor Relations →
Highwoods Properties, Inc. (HIW) closed at $30.93 as of 2026-09-11, trading 31.3% above its 200-week moving average of $23.56. The stock is currently moving closer to the line, down from 32.7% last week. The 14-week RSI sits at 66, indicating neutral momentum.
Trading volume is running at 0.7x of its 14-week average, which is in the normal range. The balance between buying and selling volume (1.26 ratio) is neutral — neither side is clearly dominating.
Over the past 1635 weeks of data, HIW has crossed below its 200-week moving average 31 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 +9.6%.
With a market cap of $3.5 billion, HIW is a mid-cap stock. The company generates a free cash flow yield of 7.8%, which is healthy. Return on equity stands at 6.8%. The stock trades at 1.4x book value.
Share count has increased 4.5% over three years, indicating dilution.
Over the past 31.4 years, a hypothetical investment of $100 in HIW would have grown to $872, compared to $2454 for the S&P 500. HIW has returned 7.1% annualized vs 10.7% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -5.2% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($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 31 historical episodes, buying HIW when it crossed below its 200-week moving average produced an average return of +9.3% after 12 months (median +14.0%), compared to +13.0% for the S&P 500 over the same periods. 67% of those episodes were profitable after one year. After 24 months, the average return was +18.8% vs +24.6% 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.
Bean Score Experimental
The Bean Score measures how far a stock's free cash flow yield has deviated from its own quarterly baseline, normalized by the stock's historical behavior. Between earnings dates, FCF is constant — so the score is purely a function of stock price. The levels below show at what prices HIW would reach each dislocation threshold.
Dislocation Price Levels
Prices where HIW's Bean Score would hit each σ threshold. Valid until next earnings report: 2026-10-27.
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $16.81 | Unusually cheap — analysis point |
| Value | +1σ | $19.78 | Cheap vs. own history |
| Fair Value | +0σ | $24.04 | Historical mean behavior |
| Expensive | -1σ | $30.63 | Expensive vs. own history |
| Deep Expensive | -2σ | $42.20 | Unusually expensive — analysis point |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
Recent Earnings
| Date | EPS Est. | EPS Actual | Surprise |
|---|---|---|---|
| 2026-07-28 | $0.14 | $0.13 | -8.1% |
| 2026-04-28 | $0.10 | $0.13 | +28.5% |
| 2026-02-10 | $0.12 | $0.08 | -31.7% |
| 2025-10-28 | $0.14 | $0.14 | +3.4% |
Signal Accuracy Collecting Data
The Bean Score system is accumulating weekly data to validate signal accuracy. After 13+ weeks of history, this section will display win rates and average returns for each σ threshold crossing — answering the question: "When this score says cheap or expensive, does the price subsequently move in the expected direction?"
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Theoretical framework — not backtested or forward-tested. The Bean Score uses trailing twelve-month free cash flow yield as a dislocation identifier. It measures whether the market has pushed a stock's yield unusually far from its own baseline behavior. These levels are analysis points: prices at which the yield deviation becomes unusual enough to justify the work. FCF values update quarterly with earnings; between reports, all movement is price-driven.
Dislocation Scores Experimental
Each score measures deviation from HIW's own historical baseline — the same idea as the Bean Score, applied to different fundamentals. Positive means cheaper or more dislocated than this stock's norm. Scores marked σ are normalized by the stock's own variability; pp values are simple deltas from its recent baseline.
Theoretical framework — not backtested. These scores describe how unusual today's readings are for this specific company. Each one is an analysis point, a reason to open the filings. Annual-statement scores (buyback, accruals, FCF vs history) rest on only ~4 yearly data points and are deltas, not sigmas.
Historical Touches
HIW has crossed below its 200-week MA 31 times with an average 1-year return of +9.6% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Aug 1998 | Sep 1998 | 4 | 12.5% | +3.0% | +577.3% |
| Oct 1998 | Oct 1998 | 3 | 4.7% | +9.0% | +590.8% |
| Nov 1998 | Nov 1998 | 1 | 1.7% | -1.1% | +562.8% |
| Dec 1998 | May 1999 | 22 | 15.0% | -11.5% | +566.0% |
| May 1999 | Jun 1999 | 1 | 1.4% | +3.2% | +534.8% |
| Jul 1999 | Jun 2000 | 49 | 18.5% | +8.8% | +527.2% |
| Jun 2000 | Jul 2000 | 1 | 1.6% | +22.0% | +520.4% |
| Sep 2000 | Dec 2000 | 12 | 10.1% | +8.9% | +506.1% |
| Oct 2002 | Dec 2002 | 8 | 6.7% | +37.6% | +486.7% |
| Mar 2003 | Mar 2003 | 1 | 0.4% | +40.9% | +468.2% |
| Dec 2007 | Feb 2008 | 6 | 9.0% | -1.4% | +208.0% |
| Mar 2008 | Mar 2008 | 1 | 3.2% | -36.9% | +201.1% |
| Oct 2008 | Aug 2009 | 43 | 43.3% | +26.1% | +211.5% |
| Aug 2009 | Sep 2009 | 1 | 0.5% | +22.0% | +171.6% |
| Oct 2009 | Nov 2009 | 2 | 4.3% | +27.4% | +179.8% |
| Feb 2010 | Feb 2010 | 1 | 0.2% | +27.0% | +164.8% |
| May 2010 | Jun 2010 | 1 | 0.8% | +30.1% | +163.5% |
| Jun 2010 | Jul 2010 | 1 | 3.5% | +30.4% | +170.7% |
| Oct 2011 | Oct 2011 | 1 | 1.5% | +29.7% | +160.2% |
| Nov 2011 | Nov 2011 | 1 | 0.9% | +26.8% | +156.4% |
| Mar 2018 | Mar 2018 | 1 | 3.6% | +15.6% | +24.4% |
| Apr 2018 | Apr 2018 | 2 | 1.7% | +12.6% | +20.2% |
| Oct 2018 | Nov 2018 | 2 | 2.0% | +9.4% | +16.3% |
| Nov 2018 | Jan 2019 | 9 | 11.8% | +12.2% | +15.5% |
| Jun 2019 | Jul 2019 | 5 | 5.8% | -7.2% | +12.8% |
| Aug 2019 | Sep 2019 | 4 | 2.3% | -8.7% | +11.2% |
| Oct 2019 | Oct 2019 | 2 | 1.1% | -14.9% | +11.4% |
| Mar 2020 | Mar 2021 | 51 | 36.3% | +14.6% | +17.8% |
| May 2022 | Jul 2024 | 116 | 44.2% | -40.3% | +8.9% |
| Apr 2025 | Apr 2025 | 1 | 2.4% | -8.7% | +30.5% |
| Feb 2026 | Apr 2026 | 10 | 13.6% | N/A | +41.7% |
| Average | 12 | — | +9.6% | — |
Frequently Asked Questions
Is HIW below its 200-week moving average?
No. Highwoods Properties, Inc. (HIW) is currently 31.3% above its 200-week moving average of $23.56. It would need to fall to $23.56 to cross below the line.
What is HIW's 200-week moving average price?
Highwoods Properties, Inc.'s 200-week moving average is $23.56 as of 2026-09-11. 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 31 times in our data. On average, buying at that moment produced a one-year return of +9.6%. 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 2026-09-11: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 66. Free cash flow yield is 7.8%. Return on equity is 6.8%. Price-to-book is 1.4x. 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 31.4 years, $100 invested in HIW would have grown to $872, compared to $2454 for the S&P 500. That's 7.1% annualized vs 10.7% 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 647.00%.
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 2026-09-11