HIW - Highwoods Properties Q4 beat helped by improving leasing activity

Highwoods Properties (NYSE:HIW) fourth-quarter results came in better-than-expected as leasing activity improved. Moreover, Q4 funds from operations "was the highest in our history, and we were above the high-end of our upwardly revised full year outlook even when excluding land sale gains," said President and CEO Ted Klinck. The company sees 2022 FFO at $3.72-3.92 per share vs. the $3.86 consensus. Q4 revenues were $203.21M, topping the $199.8M consensus and up from $179.9M in Q4 of last year. Q4 operating expenses of $143.43M compared with $129.2M in Q4 2020. Buildings and tenant improvement in the fourth quarter were $5.72B, up from $4.98B in Q4 a year ago. Q4 same property net operating income of $116.1M edged higher from $114.01M in the year-ago period. Conference call starts on Feb. 9 at 11:00 a.m. ET. At the beginning of February, Highwoods Properties declared a $0.50 per share dividend.

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Highwoods Properties Q4 beat helped by improving leasing activity