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Highwoods Properties reports Q1 FFO 98c, consensus 93c
The Fly

Highwoods Properties reports Q1 FFO 98c, consensus 93c

Reports Q1 revenue $212.75, consensus $213.02M. Ted Klinck, President and Chief Executive Officer, stated, "We delivered strong financial and operating results to begin the year, delivering FFO of $0.98 per share, posting positive same property cash NOI growth and signing 522,000 square feet of second gen office leases with healthy GAAP and cash rent spreads. Additionally, we further strengthened our liquidity by obtaining a $200 million secured loan. We have ample existing capital sources to fund our remaining development spend and repay our consolidated debt maturities through year-end 2025. Based on our solid first quarter results, we are pleased to update our outlook for 2023, which includes an increase in FFO and same property cash NOI growth at the respective midpoints."

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