Monday, June 05, 2006

Highwoods Explains Variances

Highwoods Properties (NYSE:HIW) plays some word games with there recent press release. The critical Funds From Operations (FFO) was lower than guidance which had been issued as recently as the end of Feb. Suddenly they have some impairment costs and costs related to extinguishing a pref share issue. Surely this could have been foreseen and identified in advance.