HIW · 10-Q · 2026Q1 · Full report

Quarterly Results Snapshot

HIGHWOODS PROPERTIES, INC. · 2026-04-28 · Importance 43 · Surprise 32

Rental and other revenues were $13.7 million, or 6.8%, higher in Q1 2026 versus Q1 2025, driven by $16.3 million from property acquisitions in Raleigh, Charlotte and Dallas and $1.7 million of higher consolidated same property revenues. Consolidated same property NOI declined $1.8 million, or 1.3%, in Q1 2026 versus Q1 2025 due to a $3.4 million increase in same property expenses that partially offset a $1.7 million revenue increase. Net income fell from $100.0 million in Q1 2025 to $33.4 million in Q1 2026 and diluted earnings per common share declined by $0.62 in the period. Funds from operations were $94.6 million in Q1 2026 and FFO available to common stockholders was $94.0 million, or $0.84 per weighted average share.

Key facts

• Funds from operations for the three months ended March 31, 2026 were $94,588 thousand compared to $92,307 thousand in 2025.
• Funds from operations available for common stockholders for the three months ended March 31, 2026 were $94,014 thousand compared to $91,686 thousand in 2025.
• Rental and other revenues were $13.7 million, or 6.8%, higher in the first quarter of 2026 compared to 2025.
• Diluted earnings per common share was $0.62 lower in the first quarter of 2026 compared to 2025.
• Funds from operations available for common stockholders per share was $0.84 for the three months ended March 31, 2026 compared to $0.83 for 2025, with weighted average shares outstanding of 112,062 for 2026 and 109,834 for 2025.
• Consolidated same property rental and other revenues increased rental and other revenues by $1.7 million in the first quarter of 2026.

Impact estimates