Highwoods Properties Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Highwoods Properties Inc reported net income of $162.7M (+56.0% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental and other revenues | $806.1M | $825.9M | $834.0M | $828.9M |
| Rental property and other expenses | $261.4M | $272.2M | $268.8M | $259.8M |
| Depreciation and amortization | $295.0M | $299.0M | $299.4M | $287.6M |
| Impairments of real estate assets | $8.8M | $24.6M | $0 | $36.5M |
| General and administrative | $40.3M | $41.9M | $42.9M | $42.3M |
| Total operating expenses | $605.4M | $637.7M | $611.0M | $626.2M |
| Interest expense | $152.4M | $147.2M | $136.7M | $105.4M |
| Other income | $9.6M | $12.3M | $4.4M | $1.5M |
| Gains on disposition of property | $107.1M | $46.8M | $47.8M | $63.5M |
| Gain on deconsolidation of affiliate | $0 | $0 | $11.8M | — |
| Loss on disposition of investment in unconsolidated affiliate | ($4.7M) | — | — | — |
| Equity in earnings of unconsolidated affiliates | $2.4M | $4.2M | $1.1M | $1.5M |
| Net income | $162.7M | $104.3M | $151.3M | $164.0M |
| Net (income) attributable to noncontrolling interests in the Operating Partnership | ($3.1M) | ($2.0M) | ($3.2M) | ($3.7M) |
| Net loss attributable to noncontrolling interests in consolidated affiliates | $74.0K | $34.0K | $549.0K | ($1.2M) |
| Dividends on Preferred Stock | ($2.4M) | ($2.5M) | ($2.5M) | ($2.5M) |
| Distributions on Preferred Units | ($2.4M) | ($2.5M) | ($2.5M) | ($2.5M) |
| Net income available for common stockholders | $157.3M | $99.8M | $146.2M | $156.6M |
| Net income available for common unitholders | $160.4M | $101.8M | $149.4M | $160.2M |
| Weighted average Common Shares outstanding - basic (in shares) | 108.5M | 106.2M | 105.5M | 105.1M |
| Net income available for common stockholders (in dollars per share) | $1.45 | $0.94 | $1.39 | $1.49 |
| Weighted average Common Shares outstanding - diluted (in shares) | 110.6M | 108.3M | 107.8M | 107.6M |
| Weighted average Common Units outstanding - basic (in shares) | 110.2M | 107.9M | 107.4M | 107.2M |
| Net income available for common unitholders (in dollars per share) | $1.46 | $0.94 | $1.39 | $1.50 |
| Weighted average Common Units outstanding - diluted (in shares) | 110.2M | 107.9M | 107.4M | 107.2M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental and other revenues | $216.4M | $214.0M | $201.8M | $200.6M |
| Rental property and other expenses | $70.2M | $71.1M | $65.9M | $63.7M |
| Depreciation and amortization | $79.1M | $77.5M | $73.9M | $74.7M |
| General and administrative | $9.9M | $13.4M | $9.0M | $10.3M |
| Total operating expenses | $159.1M | $162.1M | $157.6M | $148.7M |
| Interest expense | $41.7M | $41.7M | $38.5M | $37.7M |
| Other income | $2.6M | $3.2M | $1.8M | $4.6M |
| Gains on disposition of property | $79.0M | $17.0M | $5.7M | $0 |
| Equity in earnings of unconsolidated affiliates | ($414.0K) | $3.0M | $598.0K | $310.0K |
| Net income | $96.8M | $33.4M | $13.7M | $19.2M |
| Net (income) attributable to noncontrolling interests in the Operating Partnership | ($1.7M) | ($579.0K) | ($256.0K) | ($365.0K) |
| Net (income)/loss attributable to noncontrolling interests in consolidated affiliates | ($993.0K) | ($849.0K) | $2.0K | $0 |
| Dividends on Preferred Stock | ($574.0K) | ($574.0K) | ($576.0K) | ($586.0K) |
| Net income available for common stockholders | $93.5M | $31.4M | $12.9M | $18.3M |
| Weighted average Common Shares outstanding - basic (in shares) | 110.3M | 110.0M | 108.4M | 107.8M |
| Net income available for common stockholders (in dollars per share) | $0.85 | $0.29 | $0.12 | $0.17 |
| Weighted average Common Shares outstanding - diluted (in shares) | 112.3M | 112.1M | 110.5M | 110.0M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $609.2M | $570.3M | $540.0M | $548.7M |
| Buildings and tenant improvements | $6.1B | $5.8B | $6.0B | $5.9B |
| Development in-process | $6.2M | $0 | $8.9M | $46.7M |
| Land held for development | $214.1M | $221.0M | $227.1M | $231.2M |
| Total real estate assets | $7.0B | $6.6B | $6.7B | $6.7B |
| Less-accumulated depreciation | ($1.9B) | ($1.8B) | ($1.7B) | ($1.6B) |
| Net real estate assets | $5.1B | $4.8B | $5.0B | $5.1B |
| Real estate and other assets, net, held for sale | $23.2M | $55.4M | — | $0 |
| Cash and cash equivalents | $27.4M | $22.4M | $25.1M | $21.4M |
| Restricted cash | $15.7M | $11.3M | $6.4M | $4.7M |
| Accounts receivable | $28.3M | $28.3M | $28.1M | $25.5M |
| Mortgages and notes receivable | $12.2M | $11.1M | $4.8M | $1.1M |
| Accrued straight-line rents receivable | $318.0M | $308.9M | $310.6M | $293.7M |
| Investments in and advances to unconsolidated affiliates | $471.6M | $485.7M | $343.2M | $269.2M |
| Deferred leasing costs, net of accumulated amortization of $169,972 and $170,312, respectively | $244.3M | $210.0M | $225.9M | $252.8M |
| Prepaid expenses and other assets, net of accumulated depreciation of $25,144 and $20,626, respectively | $61.2M | $75.0M | $65.1M | $68.1M |
| Total Assets | $6.3B | $6.0B | $6.0B | $6.1B |
| Mortgages and notes payable, net | $3.6B | $3.3B | $3.2B | $3.2B |
| Accounts payable, accrued expenses and other liabilities | $284.0M | $304.6M | $302.2M | $301.2M |
| Total Liabilities | $3.8B | $3.6B | $3.5B | $3.5B |
| Noncontrolling interests in the Operating Partnership | $52.8M | $65.8M | $49.5M | $66.0M |
| Redeemable Operating Partnership Units, Common Units, 2,044,053 and 2,151,423 outstanding, respectively | $52.8M | $65.8M | $49.5M | $66.0M |
| Series A Preferred Units (liquidation preference $1,000 per unit), 26,691 and 28,811 units issued and outstanding, respectively | $26.7M | $28.8M | $28.8M | $28.8M |
| Total Redeemable Operating Partnership Units | $79.5M | $94.6M | $78.3M | $94.8M |
| 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 | $26691000.00 | $28811000.00 | $28811000.00 | $28821000.00 |
| 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 | 1.1M | 1.1M |
| Additional paid-in capital | $3.2B | $3.1B | $3.1B | $3.1B |
| Distributions in excess of net income available for common stockholders | ($870.1M) | ($810.6M) | ($698.0M) | ($633.2M) |
| General partner Common Units, 1,115,405 and 1,093,664 outstanding, respectively | $23.5M | $23.3M | $24.1M | $24.5M |
| Limited partner Common Units, 108,381,027 and 106,121,304 outstanding, respectively | $2.3B | $2.3B | $2.4B | $2.4B |
| Accumulated other comprehensive loss | ($2.5M) | ($2.2M) | ($2.0M) | ($1.2M) |
| Total Stockholders’ Equity | $2.4B | $2.4B | $2.4B | $2.5B |
| Noncontrolling interests in consolidated affiliates | $3.9M | $4.3M | $4.7M | $22.2M |
| 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 | $6.0B | $6.1B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $607.7M | $636.3M | $594.8M | $572.1M |
| Buildings and tenant improvements | $6.2B | $6.5B | $6.0B | $5.9B |
| Development in-process | $0 | $0 | $3.7M | $2.4M |
| Land held for development | $197.2M | $198.3M | $214.5M | $233.3M |
| Total real estate assets | $7.0B | $7.3B | $6.8B | $6.7B |
| Less-accumulated depreciation | ($1.9B) | ($2.0B) | ($1.9B) | ($1.8B) |
| Net real estate assets | $5.1B | $5.3B | $4.9B | $4.9B |
| Real estate and other assets, net, held for sale | $53.9M | $0 | $10.5M | $0 |
| Cash and cash equivalents | $145.4M | $32.4M | $26.3M | $21.2M |
| Restricted cash | $20.7M | $20.2M | $15.5M | $18.8M |
| Accounts receivable | $31.5M | $29.8M | $30.3M | $27.8M |
| Mortgages and notes receivable | $12.2M | $12.2M | $6.2M | $6.2M |
| Accrued straight-line rents receivable | $305.0M | $325.6M | $317.1M | $314.5M |
| Investments in and advances to unconsolidated affiliates | $446.9M | $495.3M | $497.0M | $496.2M |
| Deferred leasing costs, net of accumulated amortization of $174,584 and $169,972, respectively | $278.2M | $289.1M | $225.3M | $221.6M |
| Prepaid expenses and other assets, net of accumulated depreciation of $27,411 and $25,144, respectively | $61.5M | $62.1M | $64.7M | $69.5M |
| Total Assets | $6.5B | $6.6B | $6.1B | $6.1B |
| Mortgages and notes payable, net | $3.5B | $3.7B | $3.4B | $3.3B |
| Accounts payable, accrued expenses and other liabilities | $305.7M | $279.4M | $283.9M | $281.2M |
| Total Liabilities | $3.8B | $4.0B | $3.7B | $3.6B |
| Noncontrolling interests in the Operating Partnership | $60.8M | $43.2M | $65.0M | $66.9M |
| Preferred Stock, $.01 par value, 50,000,000 authorized shares; 8.625% Series A Cumulative Redeemable Preferred Shares (liquidation preference $1,000 per share), 26,631 and 26,691 shares issued and outstanding, respectively | $26631000.00 | $26631000.00 | $26691000.00 | $26716000.00 |
| Common Stock, $.01 par value, 200,000,000 authorized shares; 110,306,211 and 109,905,241 shares issued and outstanding, respectively | 1.1M | 1.1M | 1.1M | 1.1M |
| Additional paid-in capital | $3.2B | $3.2B | $3.2B | $3.1B |
| Distributions in excess of net income available for common stockholders | ($855.4M) | ($893.7M) | ($843.8M) | ($802.6M) |
| Accumulated other comprehensive loss | ($2.6M) | ($2.6M) | ($2.4M) | ($2.4M) |
| Total Stockholders’ Equity | $2.4B | $2.4B | $2.4B | $2.4B |
| Noncontrolling interests in consolidated affiliates | $198.1M | $201.7M | $4.0M | $4.1M |
| Total Equity/Capital | $2.6B | $2.6B | $2.4B | $2.4B |
| Total Liabilities, Noncontrolling Interests in the Operating Partnership and Equity/Total Liabilities, Redeemable Operating Partnership Units and Capital | $6.5B | $6.6B | $6.1B | $6.1B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $162.7M | $104.3M | $151.3M | $164.0M |
| Depreciation and amortization | $295.0M | $299.0M | $299.4M | $287.6M |
| Amortization of lease incentives and acquisition-related intangible assets and liabilities | $2.6M | $1.4M | $1.1M | ($42.0K) |
| Share-based compensation expense | $8.2M | $8.0M | $7.0M | $7.6M |
| Net credit losses/(reversals) on operating lease receivables | ($118.0K) | $2.3M | — | — |
| Accrued interest on mortgages and notes receivable | ($1.3M) | ($548.0K) | ($805.0K) | ($88.0K) |
| Amortization of debt issuance costs | $5.8M | $5.6M | $4.9M | $4.3M |
| Amortization of cash flow hedges | ($248.0K) | ($249.0K) | ($293.0K) | ($238.0K) |
| Amortization of mortgages and notes payable fair value adjustments | $142.0K | $112.0K | ($288.0K) | ($70.0K) |
| Impairments of real estate assets | $8.8M | $24.6M | $0 | $36.5M |
| Losses on debt extinguishment | $144.0K | $173.0K | $602.0K | $0 |
| Net gains on disposition of property | ($107.1M) | ($46.8M) | ($47.8M) | ($63.5M) |
| Loss on disposition of investment in unconsolidated affiliate | $4.7M | — | — | — |
| Gain on deconsolidation of affiliate | $0 | $0 | ($11.8M) | — |
| Equity in earnings of unconsolidated affiliates | ($2.4M) | ($4.2M) | ($1.1M) | ($1.5M) |
| Distributions of earnings from unconsolidated affiliates | $6.7M | $6.0M | $1.2M | $614.0K |
| Settlement of cash flow hedges | $0 | $0 | ($493.0K) | — |
| Accounts receivable | $1.4M | ($3.2M) | ($547.0K) | ($11.0M) |
| Prepaid expenses and other assets | $2.2M | $2.7M | $1.3M | $1.7M |
| Accrued straight-line rents receivable | ($14.0M) | ($9.6M) | ($24.5M) | ($29.4M) |
| Accounts payable, accrued expenses and other liabilities | ($14.0M) | $14.0M | $3.9M | $22.2M |
| Net cash provided by operating activities | $359.2M | $403.6M | $387.0M | $421.8M |
| Investments in acquired real estate and related intangible assets, net of cash acquired | ($441.5M) | ($50.8M) | ($18.5M) | ($224.9M) |
| Investments in development in-process | ($3.9M) | ($4.1M) | ($33.8M) | ($44.4M) |
| Investments in tenant improvements and deferred leasing costs | ($155.0M) | ($143.8M) | ($112.3M) | ($120.7M) |
| Investments in building improvements | ($45.8M) | ($41.0M) | ($64.3M) | ($76.4M) |
| Net proceeds from disposition of real estate assets | $195.2M | $100.9M | $101.8M | $130.0M |
| Net proceeds from disposition of investment in unconsolidated affiliate | $24.1M | — | — | — |
| Distributions of capital from unconsolidated affiliates | $8.1M | $8.5M | $6.6M | $0 |
| Investments in mortgages and notes receivable | ($9.1M) | ($6.2M) | ($14.5M) | ($24.0K) |
| Repayments of mortgages and notes receivable | $7.8M | $63.0K | $9.9M | $288.0K |
| Investments in and advances to unconsolidated affiliates | ($28.5M) | ($153.4M) | ($132.6M) | ($261.8M) |
| 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) | ($1.4M) |
| Net cash used in investing activities | ($440.7M) | ($302.4M) | ($169.7M) | ($614.8M) |
| Dividends on Common Stock | ($216.7M) | ($212.4M) | ($211.0M) | ($210.2M) |
| Distributions on Common Units | ($220.2M) | ($215.8M) | ($214.7M) | ($214.2M) |
| Redemptions/repurchases of Preferred Stock | ($2.1M) | $0 | ($10.0K) | $0 |
| Redemptions/repurchases of Preferred Units | ($2.1M) | $0 | ($10.0K) | $0 |
| Redemptions of Common Units | ($10.0K) | $0 | ($163.0K) | ($3.8M) |
| Dividends on Preferred Stock | ($2.4M) | ($2.5M) | ($2.5M) | ($2.5M) |
| Distributions on Preferred Units | ($2.4M) | ($2.5M) | ($2.5M) | ($2.5M) |
| Distributions to noncontrolling interests in the Operating Partnership | ($4.2M) | ($4.3M) | ($4.5M) | ($4.9M) |
| Distributions to noncontrolling interests in consolidated affiliates | ($320.0K) | ($400.0K) | $0 | ($1.4M) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $130.1M | $33.4M | $132.9M | $119.2M |
| Depreciation and amortization | $156.6M | $77.5M | $220.0M | $146.1M |
| Amortization of lease incentives and acquisition-related intangible assets and liabilities | $1.6M | $845.0K | $1.8M | $1.1M |
| Share-based compensation expense | $7.4M | $6.5M | $7.4M | $6.3M |
| Net credit losses on operating lease receivables | $1.9M | $1.2M | ($776.0K) | $139.0K |
| Accrued interest on mortgages and notes receivable | ($816.0K) | ($204.0K) | ($877.0K) | ($496.0K) |
| Amortization of debt issuance costs | $3.1M | $1.5M | $4.3M | $2.8M |
| Amortization of cash flow hedges | ($131.0K) | ($63.0K) | ($186.0K) | ($124.0K) |
| Amortization of mortgages and notes payable fair value adjustments | $175.0K | $88.0K | $84.0K | $56.0K |
| Losses on debt extinguishment | $60.0K | — | $144.0K | $0 |
| Net gains on disposition of property | ($96.0M) | ($17.0M) | ($87.9M) | ($82.2M) |
| Equity in earnings of unconsolidated affiliates | ($2.6M) | ($3.0M) | ($2.2M) | ($1.6M) |
| Distributions of earnings from unconsolidated affiliates | $4.1M | $2.6M | $5.3M | $3.5M |
| Accounts receivable | $710.0K | ($2.8M) | $621.0K | $2.8M |
| Prepaid expenses and other assets | $260.0K | ($1.5M) | ($1.1M) | ($4.9M) |
| Accrued straight-line rents receivable | ($16.8M) | ($8.3M) | ($9.5M) | ($6.0M) |
| Accounts payable, accrued expenses and other liabilities | ($1.7M) | ($27.8M) | ($19.3M) | ($23.9M) |
| Net cash provided by operating activities | $188.1M | $62.8M | $259.5M | $162.9M |
| Investments in acquired real estate and related intangible assets, net of cash acquired | ($309.8M) | ($309.8M) | ($248.0M) | ($137.8M) |
| Investments in development in-process | ($1.7M) | ($1.4M) | ($2.0M) | ($593.0K) |
| Investments in tenant improvements and deferred leasing costs | ($84.6M) | ($36.4M) | ($110.1M) | ($61.9M) |
| Investments in building improvements | ($26.8M) | ($12.3M) | ($30.8M) | ($21.6M) |
| Net proceeds from disposition of real estate assets | $297.5M | $40.1M | $153.6M | $137.8M |
| Distributions of capital from unconsolidated affiliates | $55.9M | $3.9M | $6.3M | $3.7M |
| Investments in mortgages and notes receivable | $0 | $0 | ($1.6M) | ($1.6M) |
| Repayments of mortgages and notes receivable | $0 | $0 | $6.3M | $6.3M |
| Investments in and advances to unconsolidated affiliates | ($33.6M) | ($27.3M) | ($21.6M) | ($16.7M) |
| Changes in earnest money deposits | $0 | $0 | $10.0M | $10.0M |
| Changes in other investing activities | $1.4M | $3.1M | ($1.6M) | $139.0K |
| Net cash used in investing activities | ($101.7M) | ($340.2M) | ($239.4M) | ($82.2M) |
| Dividends on Common Stock | ($110.1M) | ($55.0M) | ($161.8M) | ($107.7M) |
| Redemptions/repurchases of Preferred Stock | ($60.0K) | ($60.0K) | ($2.1M) | ($2.1M) |
| Redemptions of Common Units | ($24.0K) | ($24.0K) | ($10.0K) | ($10.0K) |
| Dividends on Preferred Stock | ($1.1M) | ($574.0K) | ($1.8M) | ($1.2M) |
| Distributions to noncontrolling interests in the Operating Partnership | ($2.0M) | ($1.0M) | ($3.2M) | ($2.2M) |
| Distributions to noncontrolling interest in consolidated affiliates | ($4.9M) | ($294.0K) | ($240.0K) | ($160.0K) |
| Contributions from noncontrolling interests in consolidated affiliates | $197.2M | $197.2M | — | — |
| Proceeds from the issuance of Common Stock | $655.0K | $288.0K | $51.8M | $2.2M |
| Costs paid for the issuance of Common Stock | ($455.0K) | ($68.0K) | ($1.2M) | ($324.0K) |
| Repurchase of shares related to tax withholdings | -1.9M | -1.9M | -2.0M | -2.0M |
| Borrowings on revolving credit facility | $203.0M | $203.0M | $390.0M | $237.0M |
| Repayments of revolving credit facility | ($228.0M) | ($53.0M) | ($274.0M) | ($194.0M) |
| Borrowings on mortgages and notes payable | $20.0M | — | $31.6M | — |
| Repayments of mortgages and notes payable | ($34.4M) | ($1.7M) | ($37.2M) | ($3.9M) |
| Payments for debt issuance costs and other financing activities | ($1.3M) | ($205.0K) | ($2.0M) | $0 |
Highwoods Properties Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.