Highwoods Properties (HIW) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 28, 2026

After Close (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.13

Last Year’s EPS

0.91

Same Quarter Last Year

Analyst Consensus

Hold

Based on 7 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 10, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a constructive long-term outlook supported by strong Sunbelt market fundamentals, outsized rent growth (net effective rents +20% vs 2024), a highly pre-leased development pipeline (78% pre-leased), and disciplined capital recycling and acquisitions expected to deliver attractive yields (~8%). Near-term challenges were clearly disclosed: temporary dilution and lower NOI from the recently acquired 600 at Legacy Union, elevated leasing capital and straight-line rent pressures weighing on near-term cash flow, and the need to execute ~$190–210M of dispositions by midyear to complete a leverage-neutral rotation. Management characterized most 2026 headwinds as temporary, with expected recovery and stronger growth in 2027 as development stabilizes and recently acquired assets reach higher occupancy.

Company Guidance

Highwoods guided 2026 FFO of $3.40–$3.68 per share (midpoint $3.54), which Ted said is ~5.7% higher at the midpoint than the initial 2025 outlook; the company noted this 2026 midpoint includes up to $0.16 per share of potential land sale gains ( $0.08 at the midpoint) and assumes closing $190–$210 million of dispositions by midyear (they closed $66M in Q4 and $42M subsequent) as part of a leverage‑neutral rotation (roughly $200M more of dispositions to complete the plan). Management expects to drive occupancy ~200 bps higher from 2025 to 2026 with a year‑end occupancy target of ~87.5% (average guidance ~85–87%), same‑property cash NOI roughly flat in 2026 while GAAP same‑property NOI is projected ~150 bps higher than cash NOI, and noted $0.09 per share of temporary 2026 FFO headwinds at the midpoint (≈‑$0.07 from the acquisition of 600 at Legacy Union, ≈‑$0.03 from accelerated bond issuance, partially offset by +$0.01 from temporarily elevated leverage). Other relevant metrics embedded in the outlook: development pipeline $474M and 78% pre‑leased, 600’s GAAP NOI ≈$10M in 2026 and >$18M in 2027 with ~8% projected stabilized yields, recent 2025 acquisitions of ~$472M (including $223M for 600), ~$580M invested over the last 12 months (nearly $600M at share), $270M of dispositions last year, and the expectation that debt/EBITDA will start elevated and decline steady as dispositions close and EBITDA grows.

Strong FFO and Upward 2026 Outlook

Reported Q4 FFO of $0.90 per share (including $0.06 per share of land sale gains) and full-year 2025 FFO of $3.48 per share. Initial 2026 FFO outlook range of $3.40 to $3.68 (midpoint $3.54), which management stated is ~5.7% higher at the midpoint versus their initial 2025 outlook.

Large Leasing Volume and Healthy Rent Spreads

Signed ~3.2 million square feet in 2025 with strong GAAP rent spreads of 16.4% for the year. In Q4, leased 526,000 sq ft of second-generation space (including 221,000 sq ft of new leases) and reported positive cash rent spreads with GAAP spreads in the mid-teens.

Material Net Effective Rent Growth

Net effective rents were reported 20% higher than 2024 and 19% higher than 2022 (the prior peak), cited as a company 'high watermark' for full-year 2025.

Pre-Leased Development Pipeline

Development pipeline of $474 million is 78% pre-leased (up from 72% last quarter and 56% a year ago). Notable project statuses: Glenlake 3 84% leased (prospects to mid-90s), Granite Park 6 nearly 80% leased, 23 Springs nearly 75% leased (up from 67% prior quarter) with current rents ~40% above pro forma underwriting, Midtown East 76% leased.

Active, Accretive Acquisitions in Core BBDs

Acquired $472 million in 2025 including 600 at Legacy Union ($223M, 411k sq ft, 89% leased at acquisition) and additional early-2026 investments (Terraces, Block 83). Management highlighted purchases in top Sunbelt BBDs (Charlotte, Raleigh, Dallas) with projected stabilized GAAP and cash yields around ~8% and acquisition cap rates described as attractive.

Disciplined Capital Recycling and Balance Sheet Actions

Invested ~$580–800 million (statements vary by context) over trailing 12 months and sold $270 million of non-core properties in 2025. Plan to fund acquisitions on a leverage-neutral basis via $190–210M of additional dispositions by midyear and stated intent that rotation will be modestly accretive to FFO upon stabilization of 600.

Sunbelt Market Fundamentals and Occupier Demand

Management emphasized tight supply and inbound migration across Sunbelt BBDs, citing strong job growth and corporate relocations (e.g., Charlotte job gains, Dallas and Nashville positive absorption). Company believes markets are in a 'flight to quality' with upward pressure on class-A rents and continued expansion activity.

Operational Metrics and Leasing Momentum

Ended 2025 over 89% leased (leased rate) and management expects to drive occupancy higher by ~200 basis points from 2025 to 2026. Q4 leasing included 88 deals, weighted average lease term ~6 years, expansions outpacing contractions by ~2.5:1 in the quarter and >3:1 for the year.

Highwoods Properties (HIW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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HIW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 28, 2026	2026 (Q1)	0.13 / -	0.91	―	―	―
Feb 10, 2026	2025 (Q4)	0.20 / 0.26	-0.03	966.67% (+0.29)
Oct 28, 2025	2025 (Q3)	0.14 / 0.12	0.14	-14.29% (-0.02)	―
Jul 29, 2025	2025 (Q2)	0.17 / 0.17	0.59	-71.19% (-0.42)	―
Apr 29, 2025	2025 (Q1)	0.17 / 0.91	0.25	264.00% (+0.66)
Feb 11, 2025	2024 (Q4)	0.11 / -0.03	0.36	-108.33% (-0.39)
Oct 22, 2024	2024 (Q3)	0.21 / 0.14	0.21	-33.33% (-0.07)
Jul 23, 2024	2024 (Q2)	0.27 / 0.59	0.4	47.50% (+0.19)	―
Apr 23, 2024	2024 (Q1)	0.19 / 0.25	0.42	-40.48% (-0.17)	―
Feb 06, 2024	2023 (Q4)	0.27 / 0.36	0.26	38.46% (+0.10)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

HIW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 10, 2026	$25.43	$22.84	-10.15%
Oct 28, 2025	$28.39	$27.32	-3.76%
Jul 29, 2025	$28.59	$27.44	-4.04%
Apr 29, 2025	$25.78	$26.44	+2.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Highwoods Properties (HIW) report earnings?

Highwoods Properties (HIW) is schdueled to report earning on Apr 28, 2026, After Close (Confirmed).

What is Highwoods Properties (HIW) earnings time?

Highwoods Properties (HIW) earnings time is at Apr 28, 2026, After Close (Confirmed).

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What is HIW EPS forecast?

HIW EPS forecast for the fiscal quarter 2026 (Q1) is 0.13.