Highwoods Properties Q3 Profit Rises - Quick Facts

(RTTNews) - Highwoods Properties Inc. (HIW) reported third-quarter net income for stockholders of $53.3 million, or $0.61 per share, compared to $33.4 million, or $0.43 per share, last year. Income from continuing operations increased to $17.03 million or $0.18 per share, from $10.46 million or $0.12 per share, last year.

FFO available for stockholders was $63.2 million, or $0.70 per share, compared to $52.2 million, or $0.65 per share, prior year. Excluding debt extinguishment and property acquisition costs, FFO per share would have been $0.71, for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.70 for the quarter. Analysts' estimates typically exclude special items.

Rental and other revenues rose to $147.29 million, from $123.42 million, a year ago. Analysts expected revenue of $140.32 million for the quarter.

The company has updated its 2013 FFO outlook to $2.79 to $2.81 per share, from $2.76 to $2.84 per share. Analysts expect the company to report fiscal 2013 profit per share of $2.79.