Highwoods Properties Q2 Profit Rises

(RTTNews) - Highwoods Properties, Inc. (HIW) Tuesday reported second-quarter net income of $62.9 million or $0.59 per share, compared to $42.3 million or $0.40 per share last year.

Funds from operations was $105.9 million, or $0.98 per share for the second quarter, compared to $101.0 million or $0.94 per share last year.

Rental revenues for the quarter were $204.7 million, compared to $207.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.27 per share on revenues of $205.07 million.

Looking forward, the company updated its full year 2024 FFO outlook to $3.54 to $3.62 per share, which compares to the prior range of $3.46 to $3.61 per share.