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Highwoods Numbers Falls
Highwoods Properties(HIW Quote), a real estate investment trust, reported a 10.5% fall in funds from operations in the second quarter, hurt by less land sales gain.
The company reported funds from operations of $32.5 million, or 54 cents a share, in the quarter, compared with $36.3 million, or 60 cents a share. FFO in the second quarter included a charge of 1 cent a share related to early extinguishment of debt. Analysts polled by Thomson First Call were expecting FFO of 59 cents a share.
The company earned $2.2 million, or 4 cents a share, in the quarter, compared with $3.7 million, or 7 cents a share, a year ago. ...
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