Highwoods Properties, Inc. (HIW) announced its third-quarter financial results, revealing funds from operations amounting to $97.1 million, or $0.90 per share, down from the previous year's $99.8 million, or $0.93 per share.
The company reported a net profit of $14.6 million, or $0.14 per share, which is a decrease from the $22.1 million, or $0.21 per share, recorded in the previous year. This fell short of the consensus estimate of $0.21 per share, as anticipated by analysts surveyed by Thomson Reuters.
Total revenues experienced a slight decline, coming in at $204.3 million compared to $207.1 million the year prior.
Looking to the future, Highwoods Properties has adjusted its forecast for the full year 2024, now anticipating funds from operations to range between $3.59 and $3.63 per share. This is an upward revision from the previously projected range of $3.54 to $3.62 per share.
