HIW vs ARE Stock Comparison

Highwoods Properties and Alexandria Real Estate Equities Prices as of Oct 26, 2026 Peers: Industry group

Head to Head

9 decided of 12

Highwoods Properties leads on 7 of the 12 questions below (Highwoods Properties 7, Alexandria Real Estate Equities 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionHIWARELeader
Larger companyMarket capitalisation $3.33B $7.28B ARE
Cheaper on earningsLower P/E, profitable companies only 20.0x -5.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 26.7x 27.8x HIW
Faster revenue growthRevenue growth, trailing twelve months +3.0% -9.9% HIW
More profitableNet margin, trailing twelve months 19.9% -52.0% HIW
Better return on capitalReturn on invested capital — — –
Less leveragedLower net debt / EBITDA — — –
Higher dividend yieldTrailing dividend yield 0.07% 0.08% ARE
Better 1-year returnPrice return, last 12 months +2.3% -44.0% HIW
Better 5-year returnAnnualised price return, 5 years -7.5%/yr -26.8%/yr HIW
Less volatileAnnualised volatility, 1 year 29.3% 50.0% HIW
Higher overall scoreMean of the five percentile scores vs peers 40/100 39/100 HIW

Percentile Scorecard

HIWARE

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisHIWARE
Valuation 41 #86 of 145 73 #40 of 145
Growth 23 #109 of 142 7 #132 of 142
Profitability 56 #61 of 136 14 #117 of 136
Financial Health 32 #95 of 139 74 #37 of 139
Shareholder Returns 48 #69 of 131 29 #94 of 131
Overall 40 39
  • HIW ranked among 149 companies in Property REITs
  • ARE ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodHIWARESPY
1 month +1.1%-13.1% -0.8%
3 months -10.2%-15.6% +3.5%
6 months +26.3%-4.8% +7.0%
Year to date +17.8%-11.4% +12.2%
1 year +2.3%-44.0% +13.0%
3 years +70.8%-52.7% +86.3%
3 years, per year +19.6%-22.1% +23.1%
5 years -32.2%-78.9% +68.6%
5 years, per year -7.5%-26.8% +11.0%
10 years -38.4%-59.1% +258.0%
10 years, per year -4.7%-8.6% +13.6%

Risk

MeasureHIWARESPY
Volatility, 1Y 29.3%50.0% 12.7%
Downside volatility, 1Y 32.0%56.4% 12.7%
Beta vs S&P 500, 1Y 0.560.75 1.00
Return / volatility, 1Y 0.08-0.88 1.02
Max drawdown, 5Y -62.9%-81.9% -25.4%
From 52-week high -11.6%-44.3% -1.8%
52-week high $34.39$77.87 $779.14
52-week low $20.58$40.41 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleHIWARE
P/E now vs peer median 20.2xmedian 27.4x -5.2xmedian 27.4x
P/S now vs peer median 4.0xmedian 4.2x 2.7xmedian 4.2x
EV/EBITDA now vs peer median —median 14.2x —median 14.2x
P/FCF now vs peer median -7.2xmedian 23.2x -16.0xmedian 23.2x
P/B now vs peer median 1.3xmedian 1.3x 0.4xmedian 1.3x
PEG now vs peer median 12.01median 2.11 0.05median 2.11

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsHIWARE
Revenue $835.54M $2.76B
Net income $173.55M -$1.39B
Free cash flow -$462.85M -$473.23M
EPS (diluted) $1.48 $-8.40
Cash & equivalents $145.38M $508.86M
Total debt $3.52B $12.90B
Shares (diluted) 112.30M 170.75M
Enterprise value $3.10B -$308.80M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricHIWARE
P/E 20.2x -5.2x
P/FCF -7.2x -16.0x
P/Operating cash flow 8.7x 6.4x
P/S 4.0x 2.7x
P/B 1.3x 0.4x
P/Tangible book 1.5x 0.4x
EV/EBITDA – –
EV/EBIT – –
EV/Revenue 8.0x 6.6x
EV/FCF -14.5x -38.7x
EV/Operating cash flow 17.5x 15.4x
PEG (3Y EPS CAGR) 12.01 0.05

Growth

14 metrics
MetricHIWARE
Revenue growth (1Y) 3.0% -9.9%
Revenue CAGR (3Y) -0.1% -0.5%
Gross profit growth (1Y) – –
Gross profit CAGR (3Y) – –
Operating income growth (1Y) – –
Operating income CAGR (3Y) – –
Net income growth (1Y) 32.0% -339.2%
Net income CAGR (3Y) 3.2% -74.6%
EPS growth (1Y) 28.7% -239.7%
EPS CAGR (3Y) 1.7% -100.7%
Operating cash flow growth (1Y) 5.6% -13.7%
Operating cash flow CAGR (3Y) -1.4% -9.5%
Free cash flow growth (1Y) -4,099% 33.5%
Free cash flow CAGR (3Y) -103.2% 43.5%

Profitability

14 metrics
MetricHIWARE
Gross margin – –
EBITDA margin – –
Operating margin – –
Pretax margin – –
Net margin 19.9% -52.0%
FCF margin -55.4% -17.1%
Operating cash flow margin 46.0% 43.0%
Return on equity 6.7% -6.6%
Return on assets 2.7% -3.6%
Return on invested capital – –
Return on capital employed – –
Asset turnover 0.1x 0.1x
Cash conversion (OCF / net income) 2.2x -0.9x
Stock comp / revenue 1.1% 1.5%

Financial Health

11 metrics
MetricHIWARE
Debt / assets 54.3% 37.9%
Debt / equity 1.4x 0.7x
Net debt / EBITDA – –
Debt / FCF -7.6x -27.3x
Liabilities / assets 60.0% 45.9%
Equity / assets 40.0% 54.1%
Interest coverage – –
Current ratio – –
Quick ratio – –
Cash ratio – –
Altman Z-score – –

Shareholder Returns

7 metrics
MetricHIWARE
Dividend yield 6.6% 6.6%
Net buyback yield -1.8% –
Shareholder yield 4.7% 6.6%
Payout ratio (earnings) 126.2% -43.0%
Payout ratio (FCF) -47.3% -126.5%
Dividend growth (1Y) 2.3% -34.4%
Dividend CAGR (3Y) 1.3% -10.2%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusHIWARE
Forward P/E 26.7xFY2026 27.8xFY2026
EPS, next fiscal year $1.14FY2026 $1.56FY2026
EPS growth, next FY -21.4%FY2026 –
EPS growth, the year after -36.0% -150.6%
Revenue, next fiscal year $908.60MFY2026 $2.71BFY2026
Revenue growth, next FY +12.7%FY2026 -8.2%FY2026
Revenue growth, the year after -8.1% -13.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersHIWARE
Held by institutions 100.0% 97.2%
Institutions holding 371 595
Change in shares held, QoQ +10.9% +14.1%
Institutions buying 214 336
Institutions selling 102 191
Buyers to sellers 2.10 1.76

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

HIWARE
HIW 1.00 0.42
ARE 0.42 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, HIW and ARE?

Alexandria Real Estate Equities (ARE) is the largest by market capitalisation: Highwoods Properties (HIW) $3.33B, Alexandria Real Estate Equities (ARE) $7.28B.

Which company is growing faster?

Highwoods Properties (HIW) grew revenue fastest over the trailing twelve months: Highwoods Properties (HIW) +3.0%, Alexandria Real Estate Equities (ARE) -9.9%.

Which company is more profitable?

Highwoods Properties (HIW) has the highest net margin (Highwoods Properties (HIW) 19.9%, Alexandria Real Estate Equities (ARE) -52.0%).

Which stock has performed better?

Over the past year Highwoods Properties (HIW) returned the most: Highwoods Properties (HIW) +2.3%, Alexandria Real Estate Equities (ARE) -44.0%. Over five years, Highwoods Properties (HIW) compounded fastest (Highwoods Properties (HIW) -7.5%/yr, Alexandria Real Estate Equities (ARE) -26.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Alexandria Real Estate Equities (ARE) has the highest dividend yield: Highwoods Properties (HIW) 0.07%, Alexandria Real Estate Equities (ARE) 0.08%.

Which stock is riskier?

By one-year price volatility, Highwoods Properties (HIW) has been the steadiest (Highwoods Properties (HIW) 29.3%, Alexandria Real Estate Equities (ARE) 50.0%). Volatility measures how widely the price swings, not the risk of the business.

Do HIW and ARE move together?

Their daily returns over the past year have a correlation of 0.42, a moderate positive relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, HIW and ARE?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Highwoods Properties (HIW) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.