HIW vs. NNN
Compare and contrast key facts about Highwoods Properties, Inc. (HIW) and National Retail Properties, Inc. (NNN).
Performance
HIW vs. NNN - Performance Comparison
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HIW vs. NNN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIW Highwoods Properties, Inc. | -15.21% | -9.61% | 43.11% | -10.14% | -33.58% | 17.63% | -14.76% | 31.82% | -20.84% | 3.36% |
NNN National Retail Properties, Inc. | 8.68% | 2.81% | -0.06% | -0.60% | -0.01% | 23.08% | -19.29% | 14.78% | 17.82% | 2.00% |
Fundamentals
HIW:
$2.35B
NNN:
$8.03B
HIW:
$1.45
NNN:
$2.07
HIW:
14.78
NNN:
20.50
HIW:
2.93
NNN:
8.63
HIW:
1.00
NNN:
1.82
HIW:
$806.11M
NNN:
$926.21M
HIW:
$544.74M
NNN:
$888.83M
HIW:
$610.04M
NNN:
$856.49M
Returns By Period
In the year-to-date period, HIW achieves a -15.21% return, which is significantly lower than NNN's 8.68% return. Over the past 10 years, HIW has underperformed NNN with an annualized return of -2.36%, while NNN has yielded a comparatively higher 4.11% annualized return.
HIW
- 1D
- 0.05%
- 1M
- -5.31%
- YTD
- -15.21%
- 6M
- -30.52%
- 1Y
- -21.91%
- 3Y*
- 5.34%
- 5Y*
- -7.32%
- 10Y*
- -2.36%
NNN
- 1D
- 1.00%
- 1M
- -7.38%
- YTD
- 8.68%
- 6M
- 1.70%
- 1Y
- 5.82%
- 3Y*
- 4.38%
- 5Y*
- 4.07%
- 10Y*
- 4.11%
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Return for Risk
HIW vs. NNN — Risk / Return Rank
HIW
NNN
HIW vs. NNN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Highwoods Properties, Inc. (HIW) and National Retail Properties, Inc. (NNN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| HIW | NNN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.79 | 0.33 | -1.12 |
Sortino ratioReturn per unit of downside risk | -0.97 | 0.57 | -1.54 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.07 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.65 | 0.47 | -1.12 |
Martin ratioReturn relative to average drawdown | -1.53 | 1.40 | -2.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIW | NNN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.79 | 0.33 | -1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.25 | 0.21 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.15 | -0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.40 | -0.20 |
Correlation
The correlation between HIW and NNN is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HIW vs. NNN - Dividend Comparison
HIW's dividend yield for the trailing twelve months is around 9.34%, more than NNN's 5.61% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIW Highwoods Properties, Inc. | 9.34% | 7.75% | 6.54% | 8.71% | 7.15% | 4.40% | 4.84% | 3.88% | 4.78% | 3.46% | 4.90% | 3.90% |
NNN National Retail Properties, Inc. | 5.61% | 5.96% | 5.61% | 5.17% | 4.72% | 4.37% | 5.06% | 3.79% | 4.02% | 4.31% | 4.03% | 4.27% |
Drawdowns
HIW vs. NNN - Drawdown Comparison
The maximum HIW drawdown since its inception was -63.47%, which is greater than NNN's maximum drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for HIW and NNN.
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Drawdown Indicators
| HIW | NNN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.47% | -56.17% | -7.30% |
Max Drawdown (1Y)Largest decline over 1 year | -34.03% | -11.44% | -22.59% |
Max Drawdown (5Y)Largest decline over 5 years | -58.40% | -25.22% | -33.18% |
Max Drawdown (10Y)Largest decline over 10 years | -58.93% | -54.99% | -3.94% |
Current DrawdownCurrent decline from peak | -39.42% | -7.38% | -32.04% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -9.85% | -4.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.55% | 3.90% | +10.65% |
Volatility
HIW vs. NNN - Volatility Comparison
Highwoods Properties, Inc. (HIW) has a higher volatility of 9.15% compared to National Retail Properties, Inc. (NNN) at 4.74%. This indicates that HIW's price experiences larger fluctuations and is considered to be riskier than NNN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIW | NNN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.15% | 4.74% | +4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 20.91% | 11.36% | +9.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.70% | 17.97% | +9.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.95% | 19.84% | +10.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.36% | 28.11% | +2.25% |
Financials
HIW vs. NNN - Financials Comparison
This section allows you to compare key financial metrics between Highwoods Properties, Inc. and National Retail Properties, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HIW vs. NNN - Profitability Comparison
HIW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Highwoods Properties, Inc. reported a gross profit of 136.60M and revenue of 203.36M. Therefore, the gross margin over that period was 67.2%.
NNN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, National Retail Properties, Inc. reported a gross profit of 228.36M and revenue of 238.40M. Therefore, the gross margin over that period was 95.8%.
HIW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Highwoods Properties, Inc. reported an operating income of 53.09M and revenue of 203.36M, resulting in an operating margin of 26.1%.
NNN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, National Retail Properties, Inc. reported an operating income of 148.56M and revenue of 238.40M, resulting in an operating margin of 62.3%.
HIW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Highwoods Properties, Inc. reported a net income of 29.23M and revenue of 203.36M, resulting in a net margin of 14.4%.
NNN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, National Retail Properties, Inc. reported a net income of 95.95M and revenue of 238.40M, resulting in a net margin of 40.3%.