Highwoods Properties Inc (HIW)
Highwoods Properties, Inc., based in Raleigh, is a publicly traded (NYSE: HIW) real estate investment trust (?
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 78.17% per annum.
- HIW price at the close of July 25, 2024 was $29.14 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 50.60% per annum.
- HIW price at the close of July 25, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of HIW price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: September 26, 2023
End date: July 25, 2024
a = 0.4668
b = 0.0016
s = 0.0555
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0016) – 1
= 78.17%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0555) – 1
= 24.85%
September 26, 2023 calculations
Top border of price channel:
Exp(Y1,049)
= Exp(a + b × X1,049 + 2 × s)
= Exp(a + b × 1,523 + 2 × s)
= Exp(0.4668 + 0.0016 × 1,523 + 2 × 0.0555)
= Exp(2.9878)
= $19.84
Bottom border of price channel:
Exp(Y1,049)
= Exp(a + b × X1,049 – 2 × s)
= Exp(a + b × 1,523 – 2 × s)
= Exp(0.4668 + 0.0016 × 1,523 – 2 × 0.0555)
= Exp(2.7658)
= $15.89
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(0.4668 + 0.0016 × 1,826 + 2 × 0.0555)
= Exp(3.4673)
= $32.05
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(0.4668 + 0.0016 × 1,826 – 2 × 0.0555)
= Exp(3.2453)
= $25.67
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 78.17% per annum.
- HIW price at the close of July 25, 2024 was $29.14 and was inside the primary price channel.
Secondary Trend
Start date: December 13, 2023
End date: July 25, 2024
a = 1.2703
b = 0.0011
s = 0.0341
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 50.60%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0341) – 1
= 14.62%
December 13, 2023 calculations
Top border of price channel:
Exp(Y1,104)
= Exp(a + b × X1,104 + 2 × s)
= Exp(a + b × 1,601 + 2 × s)
= Exp(1.2703 + 0.0011 × 1,601 + 2 × 0.0341)
= Exp(3.1345)
= $22.98
Bottom border of price channel:
Exp(Y1,104)
= Exp(a + b × X1,104 – 2 × s)
= Exp(a + b × 1,601 – 2 × s)
= Exp(1.2703 + 0.0011 × 1,601 – 2 × 0.0341)
= Exp(2.9981)
= $20.05
July 25, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(1.2703 + 0.0011 × 1,826 + 2 × 0.0341)
= Exp(3.3869)
= $29.57
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(1.2703 + 0.0011 × 1,826 – 2 × 0.0341)
= Exp(3.2505)
= $25.80
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 50.60% per annum.
- HIW price at the close of July 25, 2024 was inside the secondary price channel.