Highwoods Properties: Q2 Earnings Snapshot
By AP News
Published - Jul 23, 2024, 04:32 PM ET
Last Updated - Jul 23, 2024, 04:32 PM EDT
RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — Highwoods Properties Inc. (HIW) on Tuesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The Raleigh, North Carolina-based real estate investment trust said it had funds from operations of $105.9 million, or 98 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 90 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
