Highwoods Properties Q2 FFO Rises, Lifts FY13 FFO/share View

(RTTNews) - Highwoods Properties Inc. (HIW) reported second-quarter funds from operations, or FFO, amounting to $61.27 million, up from $54.74 million in the same period last year.

FFO available for common shareholders improved to $60.645 million from $54.11 million last year. On a per-share basis, FFO slightly up to $0.70 from $0.69 last year.

On average, 10 analysts polled by Thomson Reuters expected the company to report FFO of $0.69 per share for the quarter. Analysts' estimates typically exclude special items.

Net income available for common stockholders grew to $27.52 million or $0.33 per share from $12.96 million or $0.17 per share last year.

Income from continuing operations totaled $16.23 million or $0.18 per share, compared to $10.96 million or $0.13 per share last year.

Rental and other revenues totaled $138.52 million, up from $126.73 million last year. Analysts expected revenues of $137.27 million.

Looking ahead, the company lifts full-year FFO outlook to $2.76 to $2.84 per Share from previously expected view of $2.68 to $2.81 per share. Analysts currently expect full-year FFO of $2.75 per share.