Overview
Compare with KITE REALTY GROUP TRUST, STAG Industrial, Inc. or Empire State Realty OP, L.P., or pick any stock.
- TickerHIW on NYSE2
- IndustryReal Estate Investment Trusts2
- HeadquartersRaleigh, United States2
- Incorporated inMD3
- Business address150 Fayetteville Street, Ste 1400, Raleigh, Nc 276013
- Filer categoryLarge accelerated filer3
- Legal formStock Corporation2
- LEIZIIGTYKL9T0X3HLTDX532
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered addressC/O THE CORPORATION TRUST, INCORPORATED, 21093-2264 Lutherville-Timonium, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D038716882
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Raleigh, NC brought in 22% of the revenue HIGHWOODS PROPERTIES, INC. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Raleigh, NC | $182.0M | $173.2M | $180.7M |
| Nashville, TN | $171.8M | $169.2M | $156.6M |
| Atlanta, GA | $143.7M | $146.2M | $145.0M |
| Charlotte, NC | $86.0M | $88.0M | $93.4M |
| Tampa, FL | $99.4M | $98.9M | $88.0M |
| Orlando, FL | $58.0M | $58.4M | $57.1M |
| Total Corporate | $57.2M | $56.8M | $49.1M |
| Richmond, VA | $35.9M | $35.3M | $36.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs61¢$491.0M
- Interest19¢$152.4M
- Profit20¢$162.7M
Out of $806.1M in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Dividends paid60¢$216.7M
- Kept or used elsewhere40¢$142.5M
Out of $359.2M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Rental and other revenues | $806.1M | $825.9M | $834.0M |
| Rental property and other expenses | $261.4M | $272.2M | $268.8M |
| Depreciation and amortization | $295.0M | $299.0M | $299.4M |
| Impairments of real estate assets | $8.8M | $24.6M | $0 |
| General and administrative | $40.3M | $41.9M | $42.9M |
| Total operating expenses | $605.4M | $637.7M | $611.0M |
| Interest expense | $152.4M | $147.2M | $136.7M |
| Other income | $9.6M | $12.3M | $4.4M |
| Gains on disposition of property | $107.1M | $46.8M | $47.8M |
| Gain on deconsolidation of affiliate | $0 | $0 | $11.8M |
| Loss on disposition of investment in unconsolidated affiliate | -$4.7M | $0 | $0 |
| Equity in earnings of unconsolidated affiliates | $2.4M | $4.2M | $1.1M |
| Net income | $162.7M | $104.3M | $151.3M |
| Net (income) attributable to noncontrolling interests in the Operating Partnership | -$3.1M | -$2.0M | -$3.2M |
| Net loss attributable to noncontrolling interests in consolidated affiliates | $74.0K | $34.0K | $549.0K |
| Dividends on Preferred Stock | -$2.4M | -$2.5M | -$2.5M |
| Net income available for common stockholders | $157.3M | $99.8M | $146.2M |
| Net income available for common stockholders (in dollars per share) | $1.45 | $0.94 | $1.39 |
| Weighted average Common Shares outstanding - basic (in shares) | 108.5M shares | 106.2M shares | 105.5M shares |
| Net income available for common stockholders (in dollars per share) | $1.45 | $0.94 | $1.39 |
| Weighted average Common Shares outstanding - diluted (in shares) | 110.6M shares | 108.3M shares | 107.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land | $609.2M | $570.3M | ||
| Buildings and tenant improvements | $6.1B | $5.8B | ||
| Development in-process | $6.2M | $0 | $8.9M | |
| Land held for development | $214.1M | $221.0M | ||
| Total real estate assets | $7.0B | $6.6B | $6.7B | |
| Less-accumulated depreciation | -$1.9B | -$1.8B | -$1.7B | |
| Net real estate assets | $5.1B | $4.8B | ||
| Real estate and other assets, net, held for sale | $23.2M | $55.4M | ||
| Cash and cash equivalents | $27.4M | $22.4M | $25.1M | |
| Restricted cash | $15.7M | $11.3M | $6.4M | |
| Accounts receivable | $28.3M | $28.3M | ||
| Mortgages and notes receivable | $12.2M | $11.1M | ||
| Accrued straight-line rents receivable | $318.0M | $308.9M | ||
| Investments in and advances to unconsolidated affiliates | $471.6M | $485.7M | ||
| Deferred leasing costs, net of accumulated amortization of $169,972 and $170,312, respectively | $244.3M | $210.0M | ||
| Prepaid expenses and other assets, net of accumulated depreciation of $25,144 and $20,626, respectively | $61.2M | $75.0M | ||
| Total Assets | $6.3B | $6.0B | ||
| Mortgages and notes payable, net | $3.6B | $3.3B | ||
| Accounts payable, accrued expenses and other liabilities | $284.0M | $304.6M | ||
| Total Liabilities | $3.8B | $3.6B | ||
| Noncontrolling interests in the Operating Partnership | $52.8M | $65.8M | ||
| Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 26,691 and 28,811 shares issued and outstanding, respectively | $26.7M | $28.8M | ||
| Common Stock, $.01 par value, 200,000,000 authorized shares; 109,905,241 and 107,623,777 shares issued and outstanding, respectively | $1.1M | $1.1M | ||
| Additional paid-in capital | $3.2B | $3.1B | ||
| Distributions in excess of net income available for common stockholders | -$870.1M | -$810.6M | ||
| Accumulated other comprehensive loss | -$2.5M | -$2.2M | ||
| Total Stockholders Equity | $2.4B | $2.4B | ||
| Noncontrolling interests in consolidated affiliates | $3.9M | $4.3M | ||
| Total Equity/Capital: | $2.4B | $2.4B | $2.4B | $2.5B |
| Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital | $6.3B | $6.0B | ||
| Deferred leasing costs, accumulated amortization | $170.0M | $170.3M | ||
| Prepaid expenses and other assets, accumulated amortization | $25.1M | $20.6M | ||
| Preferred Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred Stock, authorized shares (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred Stock, liquidation preference (in dollars per share) | $1.0K | $1.0K | ||
| Preferred Stock, shares issued (in shares) | 26.7K shares | 28.8K shares | ||
| Preferred Stock, shares outstanding (in shares) | 26.7K shares | 28.8K shares | ||
| Common Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, authorized shares (in shares) | 200.0M shares | 200.0M shares | ||
| Common Stock, shares issued (in shares) | 109.9M shares | 107.6M shares | ||
| Common Stock, shares outstanding (in shares) | 109.9M shares | 107.6M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Land | $609.2M | $570.3M | ||
| Buildings and tenant improvements | $6.1B | $5.8B | ||
| Development in-process | $6.2M | $0 | $8.9M | |
| Land held for development | $214.1M | $221.0M | ||
| Total real estate assets | $7.0B | $6.6B | $6.7B | |
| Less-accumulated depreciation | -$1.9B | -$1.8B | -$1.7B | |
| Net real estate assets | $5.1B | $4.8B | ||
| Real estate and other assets, net, held for sale | $23.2M | $55.4M | ||
| Cash and cash equivalents | $27.4M | $22.4M | $25.1M | |
| Restricted cash | $15.7M | $11.3M | $6.4M | |
| Accounts receivable | $28.3M | $28.3M | ||
| Mortgages and notes receivable | $12.2M | $11.1M | ||
| Accrued straight-line rents receivable | $318.0M | $308.9M | ||
| Investments in and advances to unconsolidated affiliates | $471.6M | $485.7M | ||
| Deferred leasing costs, net of accumulated amortization of $169,972 and $170,312, respectively | $244.3M | $210.0M | ||
| Prepaid expenses and other assets, net of accumulated depreciation of $25,144 and $20,626, respectively | $61.2M | $75.0M | ||
| Total Assets | $6.3B | $6.0B | ||
| Mortgages and notes payable, net | $3.6B | $3.3B | ||
| Accounts payable, accrued expenses and other liabilities | $284.0M | $304.6M | ||
| Total Liabilities | $3.8B | $3.6B | ||
| Noncontrolling interests in the Operating Partnership | $52.8M | $65.8M | ||
| Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 26,691 and 28,811 shares issued and outstanding, respectively | $26.7M | $28.8M | ||
| Common Stock, $.01 par value, 200,000,000 authorized shares; 109,905,241 and 107,623,777 shares issued and outstanding, respectively | $1.1M | $1.1M | ||
| Additional paid-in capital | $3.2B | $3.1B | ||
| Distributions in excess of net income available for common stockholders | -$870.1M | -$810.6M | ||
| Accumulated other comprehensive loss | -$2.5M | -$2.2M | ||
| Total Stockholders Equity | $2.4B | $2.4B | ||
| Noncontrolling interests in consolidated affiliates | $3.9M | $4.3M | ||
| Total Equity/Capital: | $2.4B | $2.4B | $2.4B | $2.5B |
| Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital | $6.3B | $6.0B | ||
| Deferred leasing costs, accumulated amortization | $170.0M | $170.3M | ||
| Prepaid expenses and other assets, accumulated amortization | $25.1M | $20.6M | ||
| Preferred Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Preferred Stock, authorized shares (in shares) | 50.0M shares | 50.0M shares | ||
| Preferred Stock, liquidation preference (in dollars per share) | $1.0K | $1.0K | ||
| Preferred Stock, shares issued (in shares) | 26.7K shares | 28.8K shares | ||
| Preferred Stock, shares outstanding (in shares) | 26.7K shares | 28.8K shares | ||
| Common Stock, par value (in dollars per share) | $0.01 | $0.01 | ||
| Common Stock, authorized shares (in shares) | 200.0M shares | 200.0M shares | ||
| Common Stock, shares issued (in shares) | 109.9M shares | 107.6M shares | ||
| Common Stock, shares outstanding (in shares) | 109.9M shares | 107.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $162.7M | $104.3M | $151.3M |
| Depreciation and amortization | $295.0M | $299.0M | $299.4M |
| Amortization of lease incentives and acquisition-related intangible assets and liabilities | $2.6M | $1.4M | $1.1M |
| Share-based compensation expense | $8.2M | $8.0M | $7.0M |
| Net credit losses/(reversals) on operating lease receivables | -$118.0K | $2.3M | $3.8M |
| Accrued interest on mortgages and notes receivable | -$1.3M | -$548.0K | -$805.0K |
| Amortization of debt issuance costs | $5.8M | $5.6M | $4.9M |
| Amortization of cash flow hedges | -$248.0K | -$249.0K | -$293.0K |
| Amortization of mortgages and notes payable fair value adjustments | $142.0K | $112.0K | -$288.0K |
| Impairments of real estate assets | $8.8M | $24.6M | $0 |
| Losses on debt extinguishment | $144.0K | $173.0K | $602.0K |
| Net gains on disposition of property | -$107.1M | -$46.8M | -$47.8M |
| Loss on disposition of investment in unconsolidated affiliate | $4.7M | $0 | $0 |
| Gain on deconsolidation of affiliate | $0 | $0 | -$11.8M |
| Equity in earnings of unconsolidated affiliates | -$2.4M | -$4.2M | -$1.1M |
| Distributions of earnings from unconsolidated affiliates | $6.7M | $6.0M | $1.2M |
| Settlement of cash flow hedges | $0 | $0 | -$493.0K |
| Accounts receivable | $1.4M | -$3.2M | -$547.0K |
| Prepaid expenses and other assets | $2.2M | $2.7M | $1.3M |
| Accrued straight-line rents receivable | -$14.0M | -$9.6M | -$24.5M |
| Accounts payable, accrued expenses and other liabilities | -$14.0M | $14.0M | $3.9M |
| Net cash provided by operating activities | $359.2M | $403.6M | $387.0M |
| Investments in acquired real estate and related intangible assets, net of cash acquired | -$441.5M | -$50.8M | -$18.5M |
| Investments in development in-process | -$3.9M | -$4.1M | -$33.8M |
| Investments in tenant improvements and deferred leasing costs | -$155.0M | -$143.8M | -$112.3M |
| Investments in building improvements | -$45.8M | -$41.0M | -$64.3M |
| Net proceeds from disposition of real estate assets | $195.2M | $100.9M | $101.8M |
| Net proceeds from disposition of investment in unconsolidated affiliate | $24.1M | $0 | $0 |
| Distributions of capital from unconsolidated affiliates | $8.1M | $8.5M | $6.6M |
| Investments in mortgages and notes receivable | -$9.1M | -$6.2M | -$14.5M |
| Repayments of mortgages and notes receivable | $7.8M | $63.0K | $9.9M |
| Investments in and advances to unconsolidated affiliates | -$28.5M | -$153.4M | -$132.6M |
| Repayments of preferred equity from unconsolidated affiliates | $0 | $0 | $80.0M |
| Changes in earnest money deposits | $10.0M | -$10.0M | $15.5M |
| Changes in other investing activities | -$2.1M | -$2.5M | -$7.4M |
| Net cash used in investing activities | -$440.7M | -$302.4M | -$169.7M |
| Dividends on Common Stock | -$216.7M | -$212.4M | -$211.0M |
| Redemptions/repurchases of Preferred Stock | -$2.1M | $0 | -$10.0K |
| Redemptions of Common Units | -$10.0K | $0 | -$163.0K |
| Dividends on Preferred Stock | -$2.4M | -$2.5M | -$2.5M |
| Distributions to noncontrolling interests in the Operating Partnership | -$4.2M | -$4.3M | -$4.5M |
| Distributions to noncontrolling interests in consolidated affiliates | -$320.0K | -$400.0K | $0 |
| Proceeds from the issuance of Common Stock | $63.0M | $53.5M | $1.7M |
| Costs paid for the issuance of Common Stock | -$1.4M | -$843.0K | -$226.0K |
| Repurchase of shares related to tax withholdings | -$2.0M | -$1.4M | -$1.3M |
| Borrowings on revolving credit facility | $476.0M | $339.0M | $249.0M |
| Repayments of revolving credit facility | -$555.0M | -$255.0M | -$615.0M |
| Borrowings on mortgages and notes payable | $379.9M | $0 | $590.4M |
| Repayments of mortgages and notes payable | -$38.9M | -$7.1M | -$206.7M |
| Contributions from noncontrolling interests in consolidated affiliates | $0 | $0 | $320.0K |
| Payments for debt issuance costs and other financing activities | -$5.0M | -$7.7M | -$5.4M |
| Net cash provided by/(used in) financing activities | $90.8M | -$99.0M | -$205.4M |
| Net increase/(decrease) in cash and cash equivalents and restricted cash | $9.4M | $2.1M | $11.8M |
| Cash from deconsolidation of affiliate | $0 | $0 | -$6.4M |
| Cash paid for interest, net of amounts capitalized | $144.6M | $133.6M | $129.8M |
| Conversions of Common Units to Common Stock | $3.3M | $132.0K | $4.8M |
| Net changes in capital expenditures incurred but not yet paid (1) | -$7.6M | -$2.7M | $2.3M |
| Write-off of fully depreciated real estate assets | $83.3M | $93.6M | $76.7M |
| Write-off of fully amortized leasing costs | $41.2M | $47.6M | $36.1M |
| Write-off of fully amortized debt issuance costs | $1.4M | $4.1M | $1.4M |
| Adjustment of noncontrolling interests in the Operating Partnership to fair value | -$8.5M | $18.7M | -$10.2M |
| Derecognition of lease liabilities related to right of use assets | $0 | -$4.0M | $0 |
No quarter-by-quarter statement was filed.
Corporate structure
HIGHWOODS PROPERTIES, INC. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of HIGHWOODS PROPERTIES, INC.
- Cohen & Steers Filed SCHEDULE 13G/A on HIGHWOODS PROPERTIES, INC., latest Aug 14, 2026 (10 filings since Dec 10, 2021)
- BlackRock Filed SCHEDULE 13G/A on HIGHWOODS PROPERTIES, INC., latest Jul 28, 2026 (9 filings since Jan 26, 2022)
- VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on HIGHWOODS PROPERTIES, INC., latest Apr 30, 2026
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on HIGHWOODS PROPERTIES, INC., latest Mar 26, 2026 (5 filings since Feb 10, 2022)
- VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on HIGHWOODS PROPERTIES, INC., latest Feb 5, 2026
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Filed SCHEDULE 13G on HIGHWOODS PROPERTIES, INC., latest May 14, 2025
- State Street Corporation Filed SCHEDULE 13G on HIGHWOODS PROPERTIES, INC., latest May 13, 2025 (4 filings since Feb 11, 2022)
- FMR LLC Filed SC 13G/A on HIGHWOODS PROPERTIES, INC., latest Feb 9, 2022
- HIGHWOODS PROPERTIES, INC. Raleigh, North Carolina, United States
- HIGHWOODS REALTY LTD PARTNERSHIP Raleigh, North Carolina, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What HIGHWOODS PROPERTIES, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $5.1B5 Dec 31, 2025 | $4.8B5 Dec 31, 2024 | +5.2% |
| Real estate investments, at cost | $7.0B5 Dec 31, 2025 | $6.6B5 Dec 31, 2024 | +5.4% |
| Real estate accumulated depreciation | $1.9B5 Dec 31, 2025 | $1.8B5 Dec 31, 2024 | +5.9% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $27.4M5 Dec 31, 2025 | $22.4M5 Dec 31, 2024 | +22.1% |
| Stakes in other companies (equity method) | $471.6M5 Dec 31, 2025 | $485.7M5 Dec 31, 2024 | −2.9% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Finite-lived intangibles, gross | $414.2M5 Dec 31, 2025 | $380.3M5 Dec 31, 2024 | +8.9% |
| Accumulated amortization | $170.0M5 Dec 31, 2025 | $170.3M5 Dec 31, 2024 | −0.2% |
| Finite-lived intangibles, net | $244.3M5 Dec 31, 2025 | $210.0M5 Dec 31, 2024 | +16.3% |
Properties, in its own words
Properties
The following table sets forth information about our portfolio by geographic location as of December 31, 2025:
The rest of Item 2
Market · Rentable Square Feet · Occupancy · Percentage of Annualized GAAP Rental Revenue (1)
Raleigh · 5,827,000 · 89.3 · 21.6
Nashville · 5,105,000 · 81.8 · 18.7
Atlanta · 4,622,000 · 86.4 · 16.9
Charlotte · 2,402,000 · 87.1 · 12.8
Tampa · 2,523,000 · 88.8 · 10.3
Orlando · 1,789,000 · 87.6 · 6.2
Richmond · 1,740,000 · 84.9 · 4.8
Other · 2,822,000 · 75.7 · 8.7
Total · 26,830,000 · 85.3 · 100.0
(1)Annualized GAAP Rental Revenue is GAAP rental revenue (base rent plus cost recovery income, including straight-line rent) from our office properties for the month of December 2025 multiplied by 12.
The following table sets forth the net changes in rentable square footage of our portfolio:
Acquisitions · 757 · — · —
Developments Placed In-Service · 68 · 18 · —
Remeasurements/Other (1) · (353) · 575 · 5
Dispositions · (842) · (605) · (383)
Net Change in Rentable Square Footage · (370) · (12) · (378)
(1)The decrease in square footage during 2025 was primarily due to two non-core assets encompassing 0.4 million rentable square feet that were taken out of service during 2025, which resulted from a change in our assumptions about the use of such assets. The increase in square footage during 2024 was due to the inclusion of in-service properties owned by consolidated and unconsolidated joint ventures (at our share). See Explanatory Note.
The following table sets forth operating information about our portfolio:
Average Occupancy · Annualized GAAP Rent Per Square Foot (1) · Annualized Cash Rent Per Square Foot (2)
2021 · 90.0 · 30.75 · 29.63
2022 · 90.8 · 31.89 · 30.51
2023 · 89.2 · 32.79 · 32.18
2024 · 88.0 · 33.73 · 33.18
2025 · 85.5 · 34.80 · 33.71
(1)Annualized GAAP Rent Per Square Foot is GAAP rental revenue (base rent plus cost recovery income, including straight-line rent) for the month of December of the respective year multiplied by 12, divided by total occupied rentable square footage.
(2)Annualized Cash Rent Per Square Foot is cash rental revenue (base rent plus cost recovery income, excluding straight-line rent) for the month of December of the respective year multiplied by 12, divided by total occupied rentable square footage.
Customers
The following table sets forth information concerning the 20 largest customers in our portfolio as of December 31, 2025:
Customer · Rentable Square Feet · Annualized GAAP Rental Revenue (1) · Percent of Total Annualized GAAP Rental Revenue (1) · Weighted Average Remaining Lease Term in Years
Bank of America · 620,790 · 34,316 · 4.31 · 8.6
Asurion · 543,794 · 27,620 · 3.47 · 10.8
Federal Government · 748,955 · 21,600 · 2.71 · 3.6
Metropolitan Life Insurance · 667,228 · 20,631 · 2.59 · 5.2
Bridgestone Americas · 506,128 · 19,089 · 2.40 · 11.7
PPG Industries · 370,927 · 11,058 · 1.39 · 5.5
Advance Auto Parts · 218,043 · 9,944 · 1.25 · 6.8
Mars Petcare · 223,700 · 9,817 · 1.23 · 5.4
Vanderbilt University · 294,389 · 9,342 · 1.17 · 3.8
J.P. Morgan Chase & Co. · 183,864 · 6,464 · 0.81 · 2.4
CapFinancial Group · 135,631 · 6,360 · 0.80 · 10.6
Albemarle Corporation · 139,242 · 6,215 · 0.78 · 10.2
Deloitte · 132,328 · 5,993 · 0.75 · 4.9
Lifepoint Corporate Services · 202,991 · 5,978 · 0.75 · 3.2
Robinson Bradshaw & Hinson PA · 101,502 · 5,712 · 0.72 · 14.4
Regus · 169,833 · 5,564 · 0.70 · 4.6
Delta Community Credit Union · 128,589 · 5,522 · 0.69 · 6.8
Global Payments · 168,051 · 5,240 · 0.66 · 7.2
PNC Bank · 146,394 · 4,707 · 0.59 · 2.9
Martin Marietta · 125,432 · 4,509 · 0.57 · 10.3
Total · 5,827,811 · 225,681 · 28.34 · 7.3
(1)Annualized GAAP Rental Revenue is GAAP rental revenue (base rent plus cost recovery income, including straight-line rent) for the month of December 2025 multiplied by 12.
Lease Expirations
The following table sets forth scheduled lease expirations for existing leases in our portfolio as of December 31, 2025:
Lease Expiring (1) · Number of Leases Expiring · Rentable Square Feet Subject to Expiring Leases · Percentage of Leased Square Footage Represented by Expiring Leases · Annualized GAAP Rental Revenue Under Expiring Leases (2) · Average Annual GAAP Rental Rate Per Square Foot for Expirations · Percent of Annualized GAAP Rental Revenue Represented by Expiring Leases (2)
2026 (3) · 409 · 2,047,446 · 8.9 · 65,224 · 31.86 · 8.2
2027 · 360 · 2,570,746 · 11.2 · 83,418 · 32.45 · 10.5
2028 · 299 · 2,423,458 · 10.6 · 80,438 · 33.19 · 10.1
2029 · 254 · 1,959,416 · 8.6 · 60,575 · 30.91 · 7.6
2030 · 258 · 2,798,559 · 12.2 · 88,245 · 31.53 · 11.1
2031 · 219 · 2,826,293 · 12.3 · 92,568 · 32.75 · 11.6
2032 · 111 · 1,455,151 · 6.4 · 58,592 · 40.27 · 7.4
2033 · 151 · 1,415,709 · 6.2 · 51,253 · 36.20 · 6.4
2034 · 57 · 1,455,125 · 6.4 · 65,301 · 44.88 · 8.2
2035 · 65 · 826,252 · 3.6 · 26,527 · 32.11 · 3.3
Thereafter · 138 · 3,113,558 · 13.6 · 124,591 · 40.02 · 15.6
2,321 · 22,891,713 · 100.0 · 796,732 · 34.80 · 100.0
(1)Expirations that have been renewed are reflected above based on the renewal expiration date. Expirations include leases related to completed not stabilized development properties but exclude leases related to developments in-process.
(2)Annualized GAAP Rental Revenue is GAAP rental revenue (base rent plus cost recovery income, including straight-line rent) for the month of December 2025 multiplied by 12.
(3)Includes 46,000 rentable square feet of leases that are on a month-to-month basis, which represent 0.2% of total annualized GAAP rental revenue.
Land Held for Development
Item 2 of the 10-K filed Feb 10, 2026.14
Leadership
Who has led HIGHWOODS PROPERTIES, INC., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerTheodore J. Klinck Sep 3, 2019 to now15
- Chief executive officerEdward J. Fritsch Jan 4, 2006 to Mar 1, 201916
- PresidentTheodore J. Klinck Feb 8, 2019 to now17
- PresidentEdward J. Fritsch Jan 4, 2006 to Mar 2, 201816
- Chief financial officerBrendan C. Maiorana Mar 2, 2022 to now18
- Chief financial officerMark F. Mulhern Oct 1, 2014 to Nov 12, 202119
- Chief financial officerTerry L. Stevens Jan 4, 2006 to Aug 22, 201420
- Chief operating officerBrian M. Leary Jul 17, 2019 to now21
- Chief operating officerTheodore J. Klinck Mar 7, 2016 to Mar 1, 201922
Board members and other officers (24)
- EVP of Finance & IRBrendan C. Maiorana Jul 9, 2019 to Mar 2, 202123
- VP/Chief Strategy & AdminKevin E. Penn May 18, 2012 to Mar 8, 201624
- VP/Chief Investment OfficerTheodore J. Klinck May 18, 2012 to Mar 2, 201625
- Sr. Vice PresidentGene H. Anderson Jan 4, 2006 to Apr 15, 200926
- Sr. Vice PresidentMichael F. Beale Jan 4, 2006 to Jan 14, 200927
- Sr. Vice PresidentRobert G. Cutlip Jan 4, 2006 to Mar 14, 200628
- Sr. Vice PresidentW. Brian Reames Jan 4, 2006 to Nov 23, 200929
- Board memberCandice W. Todd Feb 7, 2024 to now30
- Board memberDavid L. Gadis Jan 6, 2021 to now31
- Board memberThomas P. Anderson Feb 6, 2020 to Mar 4, 202432
- Board memberTheodore J. Klinck Mar 3, 2020 to now33
- Board memberAnne H. Lloyd Feb 1, 2018 to now34
- Board memberCarlos E. Evans Jan 29, 2015 to now35
- Board memberMark F. Mulhern Jan 5, 2012 to Feb 7, 201436
- Board memberDavid John Hartzell Feb 5, 2009 to now37
- Board memberEdward J. Fritsch Jan 4, 2006 to Mar 1, 201916
- Board memberF. William Vandiver Jr. Jan 4, 2006 to Jul 3, 200738
- Board memberGene H. Anderson Jan 4, 2006 to Mar 4, 202426
- Board memberJohn L. Turner Jan 4, 2006 to Jan 25, 200639
- Board memberKay N. Callison Feb 10, 2006 to Aug 26, 200840
- Board memberL. Glenn Orr Jr. Feb 10, 2006 to Jan 29, 201541
- Board memberSherry A. Kellett Feb 10, 2006 to Mar 2, 202142
- Board memberThomas W. Adler Feb 10, 2006 to Feb 7, 201443
- General counselMack D. Pridgen Iii. Jan 4, 2006 to Mar 6, 200744
Subsidiaries and ownership
Subsidiaries (GLEIF)
Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.
Former names
- HIGHWOODS PROPERTIES INCSep 8, 1995 to Jul 1, 20193
Timeline
Calendar
Coming up
- Oct 27, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.86 a share, on Oct 28, 2025.45
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
134 filings to the SEC since October 2021: 77 insider forms, 32 large holders, 25 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Jul 28, 2026SCHEDULE 13G/A EDGAR
- Jun 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- Apr 30, 2026SCHEDULE 13G EDGAR
- Mar 27, 2026ARS EDGAR
- Mar 27, 2026DEFA14A EDGAR
- Mar 27, 2026DEF 14A EDGAR
- Mar 26, 2026SCHEDULE 13G/A EDGAR
- Mar 3, 20264 PRIMARY DOCUMENT EDGAR
- Mar 3, 20264 PRIMARY DOCUMENT EDGAR
- Mar 3, 20264 PRIMARY DOCUMENT EDGAR
- Mar 3, 20264 PRIMARY DOCUMENT EDGAR
- Feb 13, 2026SCHEDULE 13G/A EDGAR
- Feb 12, 20265 PRIMARY DOCUMENT EDGAR
The 134 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
10 open-market trades by officers, directors and large owners since October 2021: 6 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 17, 2025 | Hartzell David JohnDirector | Sale | 4,300 | $32.10 | $138.0K | Form 4 |
| Nov 6, 2024 | Hartzell David JohnDirector | Sale | 6,173 | $33.26 | $205.3K | Form 4 |
| Feb 22, 2024 | Evans Carlos EDirector | Buy | 20,000 | $23.67 | $473.4K | Form 4 |
| Oct 27, 2023 | Leary Brian MEVP & COO | Buy | 1,000 | $17.67 | $17.7K | Form 4 |
| Mar 23, 2023 | Klinck Theodore JPresident and CEO | Buy | 5,000 | $19.81 | $99.0K | Form 4 |
| Sep 28, 2022 | Maiorana Brendan CEVP, CFO | Buy | 1,500 | $27.21 | $40.8K | Form 4 |
| Sep 22, 2022 | Klinck Theodore JPresident and CEO | Buy | 5,000 | $28.25 | $141.2K | Form 4 |
| Sep 22, 2022 | Miller Jeffrey DouglasEVP, General Counsel & Sec. | Buy | 1,000 | $28.25 | $28.2K | Form 4 |
| Aug 31, 2022 | Gadis David LDirector | Sale | 650 | $30.49 | $19.8K | Form 4 |
| Nov 11, 2021 | Mulhern Mark FEVP/CFO | Sale | 16,154 | $47.11 | $761.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Cohen & SteersSCHEDULE 13G/A, 10 filings Dec 10, 2021 to Aug 14, 202646
- BlackRockSCHEDULE 13G/A, 9 filings Jan 26, 2022 to Jul 28, 202647
- VANGUARD CAPITAL MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 30, 202648
- VANGUARD GROUP INCSCHEDULE 13G/A, 5 filings Feb 10, 2022 to Mar 26, 202649
- VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Feb 5, 202650
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/SCHEDULE 13G, 1 filing May 14, 202551
- State Street CorporationSCHEDULE 13G, 4 filings Feb 11, 2022 to May 13, 202552
- FMR LLCSC 13G/A, 1 filing Feb 9, 202253
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Theodore J. Klinck | $772.1K | $5.1M54 | |
| 2025 | Brendan C. Maiorana | $495.2K | $2.1M54 | |
| 2025 | Brian M. Leary | $489.1K | $2.0M54 | |
| 2025 | Jeffrey D. Miller | $359.2K | $1.4M54 | |
| 2024 | President and Chief Executive Officer | $757.5K | $5.1M54 | |
| 2024 | Executive VicePresident and Chief Financial Officer | $485.8K | $2.1M54 | |
| 2024 | Executive Vice PresidentGeneral Counsel and Secretary | $352.4K | $1.4M54 | |
| 2023 | President and Chief Executive Officer | $755.8K | $4.7M54 | |
| 2023 | Executive VicePresident and Chief Financial Officer | $484.7K | $1.9M54 | |
| 2023 | Executive Vice PresidentGeneral Counsel and Secretary | $351.6K | $1.3M54 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 21,011,850 | $633.7M | 0.0% | +3,452,685 |
| Vanguard Portfolio Management LLC | 12,035,994 | $363.0M | 0.0% | +301,909 |
| State Street Corp | 7,592,955 | $229.0M | 0.0% | +773,322 |
| Massachusetts Financial Services Co /ma/ | 5,856,593 | $187.5M | 0.1% | +211,377 |
| Vanguard Capital Management LLC | 4,957,271 | $149.5M | 0.0% | +81,880 |
| Geode Capital Management, LLC | 3,222,880 | $97.2M | 0.0% | +975,880 |
| Quantinno Capital Management LP | 3,099,543 | $93.5M | 0.1% | +1,291,439 |
| Charles Schwab Investment Management Inc | 2,501,704 | $75.5M | 0.0% | +321,255 |
| Aew Capital Management L P | 2,399,904 | $72.4M | 4.3% | +171,665 |
| Gotham Asset Management, LLC | 2,382,143 | $71.8M | 0.2% | +2,254,613 |
| Daiwa Securities Group Inc. | 2,068,305 | $62.4M | 0.1% | −34,041 |
| Northern Trust Corp | 2,038,125 | $61.5M | 0.0% | +486,879 |
| Morgan Stanley | 1,636,752 | $49.4M | 0.0% | +226,819 |
| Sei Investments Co | 1,546,723 | $46.6M | 0.0% | +199,479 |
| Dimensional Fund Advisors LP | 1,514,977 | $45.7M | 0.0% | −36,919 |
| Nuveen, LLC | 1,505,944 | $45.4M | 0.0% | −23,788 |
| CORDA Investment Management, LLC. | 1,284,718 | $38.7M | 2.4% | +3,370 |
| Bank of New York Mellon Corp | 1,279,682 | $38.6M | 0.0% | +141,519 |
| Bank Of America Corp /de/ | 1,203,072 | $36.3M | 0.0% | −19,151 |
| Ameriprise Financial Inc | 1,115,451 | $33.6M | 0.0% | +147,353 |
| UBS Group AG | 1,083,063 | $32.7M | 0.0% | +576,116 |
| Jpmorgan Chase & Co | 889,927 | $27.0M | 0.0% | −497,705 |
| Invesco Ltd. | 868,302 | $26.2M | 0.0% | −98,788 |
| Jupiter Topco LLC | 842,713 | $25.4M | 0.0% | New |
| M&g PLC | 823,728 | $24.7M | 0.1% | +150,111 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
6 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| May 12, 2025 | Jefferson ShreveRepublican, House | Sale | $15,001 - $50,000 | +36.3% | Report |
| Mar 13, 2025 | Jefferson ShreveRepublican, House | Buy | $15,001 - $50,000 | −34.5% | Report |
| Mar 5, 2025 | Jefferson ShreveRepublican, House | Buy | $15,001 - $50,000 | −31.0% | Report |
| Jun 24, 2019 | Donna Shalala, House | Sale | $1,001 - $15,000 | +194.8% | Report |
| Apr 3, 2019 | Donna Shalala, House | Buy | $1,001 - $15,000 | −207.0% | Report |
| Feb 6, 2019 | Donna Shalala, House | Buy | $1,001 - $15,000 | −218.9% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How HIGHWOODS PROPERTIES, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARHIGHWOODS PROPERTIES, INC.1
- CIK0000921082
- Employer ID (EIN)56-187166814
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company14
- Incorporated inMaryland14
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address150 Fayetteville Street, Ste 1400, Raleigh, NC 276011
- Phone91987249241
- Shares outstanding110,272,697 as of Apr 21, 202612
- Public float$3.3B as of Jun 30, 202514
- AuditorDeloitte & Touche LLP, Raleigh, North Carolina PCAOB ID 34; it also attests to the company’s internal control over financial reporting14
- On EDGAR sinceSep 8, 19951
- Filings1,799 in all: 4 (936), 8-K (163), SC 13G/A (120), 10-Q (92), 5 (88), 4/A (54), SC 13G (43), 10-K (29)1
All 48 form types
DEF 14A (29), 424B2 (22), 424B3 (22), 424B5 (20), 3 (17), UPLOAD (14), S-3/A (13), DEFA14A (12), 8-K/A (11), S-3 (11), S-8 (11), CORRESP (9), S-3ASR (9), SCHEDULE 13G/A (9), 10-K/A (7), 10-Q/A (6), 8-A12B (5), ARS (5), POS AM (5), SC 13D/A (4), SCHEDULE 13G (4), NT 10-K (3), NT 10-Q (3), 144 (2), 25 (2), 424B4 (2), EFFECT (2), PRE 14A (2), RW (2), 10-K405 (1), 25-NSE (1), 424B1 (1), 5/A (1), 8-A12B/A (1), S-11 (1), S-3D (1), S-3DPOS (1), S-4 (1), S-8 POS (1), SC 13D (1)
- Latest filingsAnnual report (10-K) Feb 10, 2026
Quarterly report (10-Q) Jul 28, 2026
Proxy statement (DEF 14A) Mar 27, 2026
Latest 8-K (8-K) Jun 4, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, $.01 par value, of Highwoods Properties, Inc. | HIW | New York Stock Exchange |
From the cover page of the 10-K filed Feb 10, 2026 (Section 12(b) of the Exchange Act).14
Risk factors and legal proceedings
The risks HIGHWOODS PROPERTIES, INC. names in Item 1A of its 10-K filed Feb 10, 2026: 23 risks under these headings, as written.14
- Risks Related to our Operations
- We face considerable competition in the leasing market and may be unable to renew existing leases or re-let space on terms similar to the existing leases, or we may spend significant capital in our efforts to renew and re-let space, which may adversely affect our results of operations.
- Difficulties or delays in renewing leases with large customers or re-leasing space vacated by large customers could materially impact our results of operations.
- Natural disasters and climate change could have an adverse impact on our cash flow and operating results.
- Our insurance coverage on our properties may be inadequate.
- Failure to comply with Federal government contractor requirements could result in substantial costs and loss of substantial revenue.
- We face risks associated with security breaches through cyber attacks, cyber intrusions, ransomware or otherwise, as well as other significant disruptions of our information technology (“IT”) networks and related systems.
- Risks Related to our Investment Activities
- Recent and future acquisitions and development properties may fail to perform in accordance with our expectations and may require renovation and development costs exceeding our estimates.
- Illiquidity of real estate investments and the tax effect of dispositions could significantly impede our ability to sell assets or respond to favorable or adverse changes in the performance of our properties.
- We face risks associated with the development of mixed-use commercial properties.
- We own certain properties subject to ground leases that limit our uses of the properties, restrict our ability to sell or otherwise transfer the properties and expose us to the loss of the properties if such agreements are breached by us, terminated or not renewed.
The other 13 risks
- Risks Related to our Financing Activities
- Our use of debt could have a material adverse effect on our financial condition and results of operations.
- Increases in interest rates would increase our interest expense.
- Risks Related to our Status as a REIT
- The Company may be subject to taxation as a regular corporation if it fails to maintain its REIT status, which could have a material adverse effect on the Company’s stockholders and on the Operating Partnership.
- Even if we remain qualified as a REIT, we may face other tax liabilities that adversely affect our financial condition and results of operations.
- Complying with REIT requirements may cause us to forego otherwise attractive opportunities or liquidate otherwise attractive investments.
- The prohibited transactions tax may limit our ability to sell properties.
- Dividends payable by REITs do not qualify for the reduced tax rates available for some dividends.
- Risks Related to an Investment in our Securities
- The price of our Common Stock is volatile and may decline.
- Tax elections regarding distributions may impact the future liquidity of the Company or our stockholders.
- Tax legislative or regulatory action could adversely affect us or our stockholders.
- We cannot assure you that we will continue to pay dividends at historical rates.
- Cash distributions reduce the amount of cash that would otherwise be available for other business purposes, including paying off debt, reinvesting in our existing portfolio or funding future growth initiatives.
- Limits on changes in control may discourage takeover attempts beneficial to stockholders.
Legal proceedings
From time to time, we are a party to a variety of legal proceedings, claims and assessments arising in the ordinary course of our business. We regularly assess the liabilities and contingencies in connection with these matters based on the latest information available. For matters where it is probable that we have incurred or will incur a loss and the loss or range of loss can be reasonably estimated, the estimated loss is accrued and charged to income in our Consolidated Financial Statements. In other instances, because of the uncertainties related to both the probable outcome and amount or range of loss, a reasonable estimate of liability, if any, cannot be made. Based on the current expected outcome of such matters, none of these proceedings, claims or assessments is expected to have a material adverse effect on our business, financial condition, results of operations or cash flows.
The opening of Item 3, Legal Proceedings.14
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARTheodore J. Klinck, President
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- 26SEC EDGARGene H. Anderson, Sr. Vice President
- 27SEC EDGARMichael F. Beale, Sr. Vice President
- 28SEC EDGARRobert G. Cutlip, Sr. Vice President
- 29SEC EDGARW. Brian Reames, Sr. Vice President
- 30SEC EDGARCandice W. Todd, Board member
- 31SEC EDGARDavid L. Gadis, Board member
- 32SEC EDGARThomas P. Anderson, Board member
- 33SEC EDGARTheodore J. Klinck, Board member
- 34SEC EDGARAnne H. Lloyd, Board member
- 35SEC EDGARCarlos E. Evans, Board member
- 36SEC EDGARMark F. Mulhern, Board member
- 37SEC EDGARDavid John Hartzell, Board member
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- 39SEC EDGARJohn L. Turner, Board member
- 40SEC EDGARKay N. Callison, Board member
- 41SEC EDGARL. Glenn Orr Jr., Board member
- 42SEC EDGARSherry A. Kellett, Board member
- 43SEC EDGARThomas W. Adler, Board member
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