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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Highwoods Properties
Highwoods Properties (HIW) investor relations material
Highwoods Properties Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary28 Oct, 2026
Executive summary
Signed 1.212M sq. ft. of second-generation leases; occupancy rose 130 bps sequentially to 87.0% and the leased rate reached 90.1%.
Q3 FFO was $0.89/share; FY 2026 FFO guidance rose to $3.51–$3.70/share, with the midpoint up 2.5 cents from July and 6.5 cents from initial outlook.
Strong leasing, higher occupancy and limited new supply supported rent growth and a positive outlook for organic NOI growth.
Financial highlights
Q3 rental and other revenues were $218.2M vs. $201.8M; net income available to common stockholders was $31.8M, or $0.29/diluted share, vs. $12.9M, or $0.12/share.
Q3 FFO was $100.1M, or $0.89/diluted share, vs. $94.8M, or $0.86/share; no land-sale gains were recorded in the quarter.
Same-property cash NOI grew 0.2% and GAAP NOI grew 4.1%; consolidated same-property NOI increased 4.9%.
Average in-place cash rents increased 3.6% YoY per sq. ft.; second-generation leases achieved 28.8% GAAP and 4.2% cash rent growth.
Nine-month revenue increased to $648.6M from $602.8M; net income rose to $164.2M from $132.9M, including higher property disposition gains.
Outlook and guidance
FY 2026 FFO guidance is $3.51–$3.70/share; the midpoint rose 2.5 cents vs. July and 6.5 cents vs. initial outlook. Guidance includes potential land-sale gains of up to $0.14/share at the high end and none at the low end.
Excluding all land-sale gains, implied Q4 FFO exceeds $0.90/share; year-end occupancy guidance is 87.0%–88.0%, midpoint 87.5%.
Outlook includes $100M–$400M of potential new development announcements, up to $85M of acquisitions and $100M–$250M of additional non-core dispositions in the remainder of 2026.
Cash flow is expected to remain below normalized levels in 2027, with normalization more likely in 2028 and thereafter; normalized leasing CapEx is expected at $110M–$120M.
Management expects cash, operating cash flow and financing sources to cover short-term needs, including the March 2027 note maturity.
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Latest events from Highwoods Properties
- Sunbelt-focused portfolio drives rent growth, strong cash flow, and sustainability progress.HIW
Investor presentation - Strong Q2 results, leasing, and asset sales drive higher 2026 FFO outlook and liquidity.HIWQ2 2026
- High-growth Sunbelt portfolio drives strong rent, occupancy, and sustainability progress.HIWInvestor presentation
- Directors and auditor were approved, with strong financials and Sun Belt growth strategy emphasized.HIWAGM 2026
- FFO per share rose to $0.84 in Q1 2026, with 89.7% leased and $250M buyback authorized.HIWQ1 2026
- Proxy details director elections, auditor ratification, say-on-pay, and strong governance practices.HIWProxy filing
- 2026 FFO outlook rises 5.7% on strong Sun Belt leasing, rent growth, and capital rotation.HIWQ4 2025
- Q2 FFO and net income rose, Sunbelt leasing strong, and full-year outlook was raised.HIWQ2 2024
- Net income rose, FFO outlook increased, and leasing momentum continued despite lower occupancy.HIWQ1 2025
Next Highwoods Properties earnings date
Q4 202610 Feb, 2027
Highwoods Properties
Next Highwoods Properties earnings date
Q4 202610 Feb, 2027
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Frequently asked questions
Highwoods Properties Inc is a real estate investment trust (REIT) that owns, develops, and operates office properties. The company focuses on urban and suburban office buildings located in business districts across the Southeastern and Mid-Atlantic United States. Its portfolio includes high-performance workspaces leased to a diverse mix of tenants. The company is headquartered in Raleigh, North Carolina, and its shares are listed on the NYSE.