Highwoods Properties: Fourth Quarter Earnings Overview

Highwoods Properties Surpasses Earnings Expectations in Q4

Highwoods Properties Inc., a real estate investment trust headquartered in Raleigh, North Carolina, announced its fourth-quarter financial results on Tuesday, outperforming analyst forecasts for profitability.

During the quarter, the company reported funds from operations totaling $100.8 million, which translates to 90 cents per share. This figure exceeded the consensus estimate of 84 cents per share from three analysts polled by Zacks Investment Research.

Funds from operations, a key performance indicator in the REIT sector, is calculated by adding back depreciation and amortization to net income.

Highwoods Properties also disclosed a net income of $28.7 million, or 26 cents per share, for the quarter.

Quarterly revenue reached $203.4 million, falling short of the $208.3 million anticipated by analysts surveyed by Zacks.

For the full year, the company reported $385 million in funds from operations and $806.1 million in total revenue.

Looking ahead, Highwoods Properties projects its funds from operations for the upcoming year to range between $3.40 and $3.68 per share.