Highwoods Properties Q3 FFO Rises

(RTTNews) - Highwoods Properties Inc. (HIW) Tuesday reported third-quarter funds from operations of $65.8 million or $0.70 per share, compared with $63.2 million or $0.70 per share last year.

Net income for the quarter was $51.7 million or $0.57 per share, compared with $53.3 million or $0.61 per share last year.

Rental and other revenues for the quarter were $152.6 million, up from $144.8 million last year.

Analysts polled by Thomson Reuters expected the company to report FFO of $0.73 per share on revenues of $153.15 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects FFO of $2.89 to $2.91 per share, compared to prior outlook of $2.88 to $2.94 per share. Analysts currently project FFO of $2.93 per share for 2014.