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.