Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 February, 2024 19:03 IST
Highwoods Properties first-quarter earnings plunge by 92.55 percent on a YOY basis
Source: IRIS | 04 Jul, 2017, 10.29AM

Powered by IRIS XBRL Data
Rating: NAN / 5 stars.
Comments  |  Post Comment

Highwoods Properties, Inc (HIW) has reported 92.55 percent plunge in profit for the quarter ended Mar. 31, 2017. The company has earned $32.30 million, or $0.31 a share in the quarter, compared with $433.42 million, or $4.49 a share for the same period last year.     

Revenue during the quarter went up marginally by 2.76 percent to $169.41 million from $164.86 million in the previous year period.

Total expenses were $125.03 million for the quarter, up 2.31 percent or $2.82 million from year-ago period. Operating margin for the quarter expanded 33 basis points over the previous year period to 26.20 percent.

Operating income for the quarter was $44.38 million, compared with $42.65 million in the previous year period.

Revenue from real estate activities during the quarter went up marginally by 2.76 percent or $4.55 million to $169.41 million.

Ed Fritsch, President and Chief executive officer, stated, “We had another productive quarter, generating strong same property cash NOI and leasing metrics. We leased 715,000 square feet of second generation office space with net effective rents 10.3% higher than our prior five-quarter average and robust cash and GAAP rent spreads of +4.4% and +16.6%. In addition, we signed 398,000 square feet of first generation leases.

Net receivables were at $23.60 million as on Mar. 31, 2017, down 33.65 percent or $11.97 million from year-ago.

Total assets went up marginally by 0.77 percent or $34.79 million to $4,548.82 million on Mar. 31, 2017. On the other hand, total liabilities were at $2,249.63 million as on Mar. 31, 2017, down 2.74 percent or $63.41 million from year-ago.

Return on assets moved up 5 basis points to 1.13 percent in the quarter. At the same time, return on equity moved down 1952 basis points to 1.47 percent in the quarter.

Debt comes down marginally
Total debt was at $2,042.49 million as on Mar. 31, 2017, down 2.78 percent or $58.45 million from year-ago. Shareholders equity stood at $2,159.82 million as on Mar. 31, 2017, up 4.73 percent or $97.47 million from year-ago. As a result, debt to equity ratio went down 7 basis points to 0.95 percent in the quarter.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]



 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Edgewater Technology first-quarter loss widens on a YOY basis - 08-Jul-2017 16:21
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer