Highwoods Q3 EPS Jumps to $0.29 as Occupancy Climbs to 87.0%
HIW sits 46% above its 52-week low of $20.45.
Summary
Highwoods' Q3 net income available to common stockholders nearly tripled to $31.8M ($0.29/share) on 8.1% revenue growth, with occupancy up to 87.0% and same property NOI up 4.9%. FFO per share rose to $0.89 from $0.86.
Key Events · Earnings and Guidance · HIW
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Q3 Earnings Nearly Triple
Net income available for common stockholders was $31.8M, or $0.29 per diluted share, versus $12.9M and $0.12 a year ago; revenue rose 8.1% to $218.2M.
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Occupancy and Rent Growth Improve
Portfolio occupancy rose from 85.3% at December 31, 2025 to 87.0% at September 30, 2026, and combined GAAP rents on Q3 new and renewal leases were 28.8% higher than the prior leases in the same spaces.
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FFO Per Share Edges Higher
FFO available for common stockholders was $100.1M, or $0.89 per share, versus $0.86 in Q3 2025; same property NOI increased $6.0M, or 4.9%.
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Forward-Sold Shares Still Unsettled
1,056,085 shares were sold under forward sale agreements at a $32.24 weighted average gross price ($34.1M gross); none had settled as of September 30, 2026, so no proceeds were received and no shares issued.
Analysis · HIW · Real Estate & Construction
Highwoods delivered a materially stronger third quarter: net income available to common stockholders nearly tripled to $31.8M ($0.29 per diluted share) from $12.9M a year earlier, helped by $13.6M of disposition gains and 8.1% revenue growth. The operating story is the more durable one — occupancy rose from 85.3% at year-end 2025 to 87.0%, same property NOI grew 4.9%, and new and renewal leases signed in the quarter came in at GAAP rents 28.8% above the prior leases in the same space. FFO per share of $0.89 versus $0.86 a year ago is a modest but positive step. The balance sheet is in good shape with $279.2M of cash, nothing drawn on the $750.0M revolver, and only the $285.9M March 2027 notes maturing within a year. The main watch item is dilution overhang: 1,056,085 shares were sold forward at $32.24 gross but not yet settled, so the company has not received that $34.1M and the shares are not yet issued.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, HIW was trading at $29.82 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $20.45 to $35.44. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.