Highwoods Properties Q4 FFO Increases

(RTTNews) - Highwoods Properties Inc. (HIW) reported that its funds from operations available for common stockholders for the fourth quarter 2019 increased to $96.9 million or $0.91 per share, from $91.8 million or $0.86 per share in the fourth quarter of 2018.

Net income available for common stockholders for the fourth quarter of 2019 was $59.9 million or $0.58 per share, compared to $53.0 million or $0.51 per share, for the fourth quarter of 2018.

Rental and other revenues grew to $192.07 million from $181.39 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.33 per share and revenues of $193.04 million for the quarter. Analysts' estimates typically exclude special items.

The company has increased its quarterly cash dividend to $0.48 per share. This equates to an annualized dividend of $1.92 per share, a 1.1% increase from last year.

For 2020, the Company expects FFO per share to be in the range of $3.60 to $3.72. Analysts expect annual earnings of $1.33 per share.