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Highwoods Properties Inc.

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Highwoods reported better-than-expected second-quarter 2017 funds from operations (FFO) per share. The quarter witnessed strong growth in same-property net operating income (NOI) and solid leasing metrics. It also raised 2017 same-property cash NOI growth rate guidance by 25 basis points to 3–3.75%. The company has a diverse portfolio with top tenants in its roster, high-quality office assets in best business districts (BBDs) and a robust balance sheet. However, significant exposure to office assets and risks associated with huge development pipeline are concerns. Rate hike adds to the woes. Amid these, shares of the company underperformed its industry, year to date.

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