Highwoods Properties Narrows 2017 FFO Outlook - Quick Facts

(RTTNews) - Highwoods Properties, Inc. (HIW) has updated its 2017 FFO outlook to $3.33 to $3.38 per share from $3.29 to $3.40 per share, representing a $0.01 per share increase in the midpoint. The revised per share outlook is due to $0.01 from debt extinguishment gains and $0.02 from higher-than-anticipated same property NOI in the second quarter, primarily driven by lower operating expenses that are not projected to continue in the second half of the year.

For the second quarter of 2017, funds from operations available for common stockholders was $94.5 million, or $0.90 per diluted share, compared to FFO of $82.2 million, or $0.82 per diluted share, for the second quarter of 2016.