Highwoods Properties (HIW) Following Fresh Leasing Wins Looks Fairly Valuedҟ
Leasing momentum at Highwoods Properties after new client announcement
Highwoods Properties (HIW) has reported 1,100,000 square feet of second generation leasing activity since July 1, 2026, including more than 200,000 square feet of new leases and several long term renewals across multiple markets.
Leasing momentum comes as Highwoods Properties trades at US$30.93, with a 90-day share price return of 5.03% and a year to date share price gain of 19.51%. The 3-year total shareholder return of 71.41% points to stronger longer run performance than the most recent 1-year total return of 3.50%.
Scan other office-focused real estate plays that show similar leasing momentum using the curated list of solid balance sheet and fundamentals (23 results)
Highwoods Properties now has fresh leasing wins on the board and a share price that has already moved this year. The key question is whether a solid office portfolio is being offered at a fair entry point or not.
Most Popular Narrative: 4.3% Undervalued
On this view, Highwoods Properties screens slightly below its estimated fair value of $32.33, compared with the last close at $30.93, which puts the leasing uptick against more cautious earnings expectations.
The ongoing shift to remote and hybrid work remains a structural headwind, and management's optimism on in-office momentum may overstate the sustainability of recent leasing trends; if physical office demand fails to fully rebound, Highwoods could face higher long-term vacancy and stagnant or declining rental revenue.
See why 8 investors see Highwoods Properties as 4% undervalued.
Result: Fair Value of $32.33 (UNDERVALUED)
Still, strong leasing pipelines and ongoing portfolio upgrades at Highwoods Properties could support occupancy and cash flow more than this cautious narrative assumes.
Find out about the key risks to this Highwoods Properties narrative.
Another View on Highwoods Properties Valuation
The first narrative leans on a fair value of $32.33 and calls Highwoods Properties undervalued by 4.3%. A different lens looks at the current P/E of 20.5x versus the Global Office REITs average of 17.6x and a fair ratio estimate of 23.7x.
This mix matters. Trading above the sector but below the fair ratio suggests investors pay a premium to office peers yet still leave some upside open if sentiment shifts toward that higher 23.7x anchor. The real question is whether future earnings justify sitting between those two reference points.
See what the numbers say about this price — find out in our valuation breakdown.
Next Steps
Mixed opinions like these often signal a real debate around Highwoods Properties. If you want to move quickly and form your own stance, start with the 3 key rewards and 3 important warning signs.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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