Highwoods Properties (HIW) Tops Q3 FFO Estimates

Core Viewpoint - Highwoods Properties reported quarterly funds from operations (FFO) of $0.90 per share, exceeding the Zacks Consensus Estimate of $0.88 per share, but down from $0.93 per share a year ago [1] Financial Performance - The FFO surprise for the quarter was 2.27%, and the company had previously reported an FFO of $0.98 per share, surpassing expectations by 8.89% [1] - Highwoods Properties generated revenues of $204.32 million for the quarter ended September 2024, which was 0.49% below the Zacks Consensus Estimate and down from $207.1 million year-over-year [1] Stock Performance - Highwoods Properties shares have increased approximately 55% since the beginning of the year, significantly outperforming the S&P 500's gain of 22.7% [2] Future Outlook - The company's future FFO expectations and management's commentary during the earnings call will be crucial for the stock's immediate price movement [2] - Current consensus FFO estimate for the upcoming quarter is $0.86 on revenues of $203.71 million, and for the current fiscal year, it is $3.60 on revenues of $824.88 million [4] Industry Context - The REIT and Equity Trust - Other industry is currently ranked in the top 32% of over 250 Zacks industries, indicating a favorable outlook [5] - Iron Mountain, another company in the same industry, is expected to report quarterly earnings of $1.11 per share, reflecting a year-over-year increase of 12.1% [5]