Highwoods Posts Mixed Q4 Results

Highwoods Properties reported after hours Tuesday mixed Q4 results, with funds from operations meeting expectations on shy revenues. The company also issued slightly downside FFO guidance for FY17.Q4 FFO was $0.82 per share, flat from a year earlier and in line with expectations compiled by Capital IQ.

Revenues rose to $167.6 million from $160.1 million but were shy of the $168.5 million average estimate. For FY17, the real estate investment trust expects FFO of $3.27 to $3.40 per share, just below the $3.41 per share consensus. Highwoods also said it will distribute a quarterly dividend of $0.44 per share, up 3.5% from the prior quarterly distribution. The dividend is payable on March 7 to holders of record on Feb. 17.

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