HIW
Highwoods Properties, Inc. Real Estate - Office Investor Relations →
Highwoods Properties, Inc. (HIW) closed at $29.28 as of 2026-06-19, trading 25.9% above its 200-week moving average of $23.27. The stock is currently moving closer to the line, down from 28.4% last week. With a 14-week RSI of 87, HIW is in overbought territory.
Trading volume is running at 1.4x of its 14-week average, which is in the normal range. The balance between buying and selling volume (0.91 ratio) is neutral — neither side is clearly dominating.
Over the past 1623 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 +9.7%.
With a market cap of $3.3 billion, HIW is a mid-cap stock. The company generates a free cash flow yield of 10.9%, which is notably high. Return on equity stands at 3.8%. The stock trades at 1.4x book value.
Share count has increased 4.5% over three years, indicating dilution.
Over the past 31.2 years, a hypothetical investment of $100 in HIW would have grown to $813, compared to $2397 for the S&P 500. HIW has returned 7.0% annualized vs 10.7% for the index, underperforming the broader market over this period.
Free cash flow has been declining at a -5.2% compound annual rate. A deteriorating cash flow trend warrants extra scrutiny — the stock may be cheap for a reason.
Business Health
Annual financials — how the underlying business has performed over the past several years.
Cash Flow Free cash flow & net income ($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 30 historical episodes, buying HIW when it crossed below its 200-week moving average produced an average return of +9.0% after 12 months (median +12.0%), compared to +12.9% for the S&P 500 over the same periods. 66% 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.
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: 2026-07-28.
| Level | σ | Price | Signal |
|---|---|---|---|
| Deep Value | +2σ | $16.91 | Unusually cheap — potential buy zone |
| Value | +1σ | $18.87 | Cheap vs. own history |
| Fair Value | +0σ | $21.34 | Historical mean behavior |
| Expensive | -1σ | $24.55 | Expensive vs. own history |
| Deep Expensive | -2σ | $28.90 | Unusually expensive — potential trim zone |
Quarterly FCF & Yield Trailing twelve-month free cash flow and yield at each quarter end
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?"
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 reference points for identifying potential swing trade opportunities, not buy/sell signals. 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. They are starting points for research, not buy or sell signals. 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 30 times with an average 1-year return of +9.7% after recovery.
| Crossed Below | Recovered | Weeks | Max Depth | 1-Year Return | Return Since Touch |
|---|---|---|---|---|---|
| Aug 1998 | Sep 1998 | 4 | 12.4% | +3.0% | +531.0% |
| Oct 1998 | Oct 1998 | 3 | 4.6% | +9.0% | +543.5% |
| Nov 1998 | Nov 1998 | 1 | 1.5% | -3.4% | +517.4% |
| Dec 1998 | May 1999 | 22 | 14.9% | -11.5% | +520.4% |
| May 1999 | Jun 1999 | 1 | 1.3% | +3.2% | +491.4% |
| Jul 1999 | Jun 2000 | 48 | 18.3% | +8.8% | +484.4% |
| Jun 2000 | Jul 2000 | 1 | 1.5% | +22.0% | +477.9% |
| Sep 2000 | Dec 2000 | 11 | 10.0% | +15.1% | +473.6% |
| Oct 2002 | Nov 2002 | 7 | 9.3% | +37.6% | +446.6% |
| Mar 2003 | Mar 2003 | 1 | 0.2% | +40.9% | +429.4% |
| Dec 2007 | Feb 2008 | 6 | 8.9% | -1.4% | +187.0% |
| Mar 2008 | Mar 2008 | 1 | 3.1% | -36.9% | +180.5% |
| Oct 2008 | Aug 2009 | 43 | 43.3% | +26.1% | +190.2% |
| Aug 2009 | Sep 2009 | 1 | 0.4% | +22.0% | +153.0% |
| Oct 2009 | Nov 2009 | 2 | 4.2% | +27.4% | +160.7% |
| Feb 2010 | Feb 2010 | 1 | 1.6% | +27.3% | +150.5% |
| May 2010 | Jun 2010 | 1 | 0.7% | +30.1% | +145.4% |
| Jun 2010 | Jul 2010 | 1 | 3.4% | +30.4% | +152.2% |
| Oct 2011 | Oct 2011 | 1 | 1.4% | +29.7% | +142.4% |
| Nov 2011 | Nov 2011 | 1 | 0.8% | +26.8% | +138.9% |
| Mar 2018 | Mar 2018 | 1 | 3.5% | +15.6% | +15.9% |
| Apr 2018 | Apr 2018 | 2 | 1.7% | +12.6% | +12.0% |
| Oct 2018 | Jan 2019 | 13 | 11.8% | +9.4% | +8.4% |
| Jun 2019 | Jul 2019 | 5 | 5.7% | -7.2% | +5.1% |
| Aug 2019 | Sep 2019 | 5 | 2.3% | -5.3% | +3.8% |
| Oct 2019 | Oct 2019 | 1 | 1.0% | -14.9% | +3.8% |
| Mar 2020 | Mar 2021 | 51 | 36.2% | +14.6% | +9.7% |
| May 2022 | Jul 2024 | 116 | 44.1% | -40.3% | +1.4% |
| Apr 2025 | Apr 2025 | 1 | 2.3% | -8.7% | +21.6% |
| Feb 2026 | Apr 2026 | 10 | 13.5% | N/A | +32.0% |
| Average | 12 | — | +9.7% | — |
Frequently Asked Questions
Is HIW below its 200-week moving average?
No. Highwoods Properties, Inc. (HIW) is currently 25.9% above its 200-week moving average of $23.27. It would need to fall to $23.27 to cross below the line.
What is HIW's 200-week moving average price?
Highwoods Properties, Inc.'s 200-week moving average is $23.27 as of 2026-06-19. 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 +9.7%. 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 2026-06-19: The stock is above its 200-week moving average, so it doesn't currently meet our primary signal. The 14-week RSI is 87 (overbought). Free cash flow yield is 10.9%. Return on equity is 3.8%. 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 31.2 years, $100 invested in HIW would have grown to $813, compared to $2397 for the S&P 500. That's 7.0% 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 679.00%.
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 2026-06-19