WallStSmart

Highwoods Properties Inc (HIW)vsVornado Realty Trust (VNO)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Vornado Realty Trust generates 125% more annual revenue ($1.85B vs $823.80M). VNO leads profitability with a 42.9% profit margin vs 11.4%. VNO appears more attractively valued with a PEG of 7.37. VNO earns a higher WallStSmart Score of 59/100 (C).

HIW

Hold

49

out of 100

Grade: D+

Growth: 3.3Profit: 6.0Value: 5.3Quality: 4.5
Piotroski: 4/9Altman Z: 0.55

VNO

Buy

59

out of 100

Grade: C

Growth: 5.3Profit: 6.5Value: 7.3Quality: 5.0
Piotroski: 5/9Altman Z: 0.61
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

HIWUndervalued (+48.3%)

Margin of Safety

+48.3%

Fair Value

$45.16

Current Price

$27.88

$17.28 discount

UndervaluedFair: $45.16Overvalued
VNOUndervalued (+33.5%)

Margin of Safety

+33.5%

Fair Value

$45.49

Current Price

$35.21

$10.28 discount

UndervaluedFair: $45.49Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

HIW2 strengths · Avg: 9.0/10
Price/BookValuation
1.3x10/10

Reasonable price relative to book value

Operating MarginProfitability
25.3%8/10

Strong operational efficiency at 25.3%

VNO4 strengths · Avg: 10.0/10
P/E RatioValuation
10.5x10/10

Attractively priced relative to earnings

Price/BookValuation
1.4x10/10

Reasonable price relative to book value

Profit MarginProfitability
42.9%10/10

Keeps 43 of every $100 in revenue as profit

EPS GrowthGrowth
1263.0%10/10

Earnings expanding 1263.0% YoY

Areas to Watch

HIW4 concerns · Avg: 3.0/10
P/E RatioValuation
36.0x4/10

Premium valuation, high expectations priced in

Return on EquityProfitability
3.8%3/10

ROE of 3.8% — below average capital efficiency

Debt/EquityHealth
1.563/10

Elevated debt levels

PEG RatioValuation
7.772/10

Expensive relative to growth rate

VNO4 concerns · Avg: 2.3/10
Debt/EquityHealth
1.403/10

Elevated debt levels

PEG RatioValuation
7.372/10

Expensive relative to growth rate

Revenue GrowthGrowth
-2.2%2/10

Revenue declined 2.2%

Altman Z-ScoreHealth
0.612/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : HIW

The strongest argument for HIW centers on Price/Book, Operating Margin.

Bull Case : VNO

The strongest argument for VNO centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 42.9% and operating margin at 13.7%.

Bear Case : HIW

The primary concerns for HIW are P/E Ratio, Return on Equity, Debt/Equity. Debt-to-equity of 1.56 is elevated, increasing financial risk.

Bear Case : VNO

The primary concerns for VNO are Debt/Equity, PEG Ratio, Revenue Growth.

Key Dynamics to Monitor

HIW profiles as a value stock while VNO is a declining play — different risk/reward profiles.

VNO carries more volatility with a beta of 1.56 — expect wider price swings.

HIW is growing revenue faster at 7.6% — sustainability is the question.

HIW generates stronger free cash flow (63M), providing more financial flexibility.

Bottom Line

VNO scores higher overall (59/100 vs 49/100), backed by strong 42.9% margins. HIW offers better value entry with a 48.3% margin of safety. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Highwoods Properties Inc

REAL ESTATE · REIT - OFFICE · USA

Highwoods Properties, Inc., based in Raleigh, is a publicly traded (NYSE: HIW) real estate investment trust (?

Vornado Realty Trust

REAL ESTATE · REIT - OFFICE · USA

Vornado Realty Trust is a real estate investment trust formed in Maryland, with its primary office in New York City. The company invests in office buildings and street retail in Manhattan.

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