Highwoods Properties Q2 Profit Down

(RTTNews) - Highwoods Properties Inc. (HIW) reported that its net income available for common stockholders for the second quarter of 2020 was $37.0 million or $0.36 per share down from $39.4 million or $0.38 per share in the second quarter of 2019.

Funds from operations available for common stockholders was $99.2 million or $0.93 per share compared to $93.1 million, or $0.87 per share last year.

Rental and other revenues were $183.15 million compared to $184.07 million last year.

The company now expects FFO per share for the full year 2020 to be in the range of $3.59 to $3.68, compared to the prior range of $3.55 to $3.68 per share provided on April 28, 2020. The updated outlook excluded potential lost rental revenues and non-cash straight line rent credit losses due to COVID-19.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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