Highwoods Properties (HIW) vs Independence Realty (IRT)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Highwoods Properties (HIW) has outperformed Independence Realty (IRT) over the past year, losing 7.6% versus a loss of 10.5%. Over five years, IRT leads with a -31.3% price change compared with -37.3% for HIW. Independence Realty is the larger company by market cap ($3.57 billion vs $3.26 billion), about 1.1 times the size.
On valuation, Highwoods Properties trades at a lower forward P/E (41.5x vs 184.6x for Independence Realty). Highwoods Properties offers the higher dividend yield (6.89% vs 4.67%). Highwoods Properties converts more of its revenue into profit, with a net margin of 20.2% versus 8.6%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | HIW | IRT |
|---|---|---|
| Share price | $29.04 | $14.77 |
| Market cap | $3.26B | $3.57B |
| 1-day change | -0.48% | +0.89% |
| YTD return | +13.01% | -16.25% |
| 1-year return | -7.60% | -10.51% |
| 5-year return | -37.31% | -31.30% |
| P/E ratio (TTM) | 19.23 | 82.06 |
| Forward P/E | 41.49 | 184.63 |
| EPS (TTM) | $1.51 | $0.18 |
| Dividend yield | 6.89% | 4.67% |
| Annual dividend | $2.00 | $0.69 |
| Revenue (latest FY) | $806.11M | $657.70M |
| Revenue growth (YoY) | -2.39% | +2.76% |
| Net income (latest FY) | $162.65M | $56.56M |
| Operating margin | 67.58% | — |
| Net margin | 20.18% | 8.60% |
| 52-week high | $35.44 | $17.79 |
| 52-week low | $20.45 | $14.33 |
| Distance from 52-week high | -18.06% | -16.98% |
| Analyst consensus | none | buy |
| Avg. price target upside | +11.33% | +30.47% |
| Average volume | 1.24M | 3.21M |
| Shares outstanding | 110.31M | 235.74M |
| Employees | 315 | 904 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- Independence Realty trades at a higher earnings multiple (82.1x vs 19.2x trailing P/E).
- Highwoods Properties offers a meaningfully higher dividend yield (6.89% vs 4.67%).
- Highwoods Properties is more profitable, keeping 20.2 cents of every revenue dollar as net income versus 8.6 cents for Independence Realty.
- Independence Realty grew revenue faster in its latest fiscal year (+2.76% vs -2.39%).
About Highwoods Properties
HIW stock →Highwoods Properties, Inc. is a publicly traded fully integrated office real estate investment trust that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.
Real Estate · Real Estate Investment Trusts · 315 employees
About Independence Realty
IRT stock →Independence Realty Trust, Inc., an S&P 400 MidCap Company, is a real estate investment trust that owns and operates multifamily communities across non-gateway U.S. markets.
Real Estate · Real Estate Investment Trusts · 904 employees
HIW vs IRT FAQ
Which is bigger, Highwoods Properties or Independence Realty?
Independence Realty (IRT) is larger, with a market capitalization of $3.57B compared with $3.26B for Highwoods Properties (HIW).
Which stock has performed better over the past year, HIW or IRT?
HIW returned -7.60% over the past 12 months, compared with -10.51% for IRT (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, HIW or IRT?
HIW has the lower trailing P/E at 19.2, versus 82.1 for IRT. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Highwoods Properties or Independence Realty?
Highwoods Properties has the higher yield at 6.89%, compared with 4.67% for Independence Realty.
Are Highwoods Properties and Independence Realty in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.