Accessibility StatementSkip Navigation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+Newsrooms &Influencers 9k+Digital MediaOutlets 270k+JournalistsOpted In GET STARTED ATLANTA, Sept. 30, 2025 /PRNewswire/ -- Cousins Properties (NYSE:CUZ) announced today that it will release its third quarter 2025 earnings after the market closes on Thursday, October 30, 2025. Cousins will hold its third quarter 2025 earnings conference call on Friday, October 31, 2025 at 10:00 a.m. (Eastern Time). The number ...

Core Points - Cousins Properties declared a cash dividend of $0.32 per common share for Q3 2025, payable on October 15, 2025, to shareholders of record on October 3, 2025 [1] - The company is a fully integrated, self-administered, and self-managed real estate investment trust (REIT) based in Atlanta, GA, primarily investing in Class A office buildings in high growth Sun Belt markets [1] - Founded in 1958, Cousins Properties focuses on creating shareholder value through development, acquisition, leasing, and management of high-quality real estate assets [1] Financial Highlights - The dividend for Q3 2025 is set at $0.32 per share, reflecting the company's ongoing commitment to returning value to shareholders [1] - Cousins Properties has a comprehensive strategy that includes a focus on trophy assets and opportunistic investments [1] Recent Developments - Cousins Properties recently acquired The Link, a 292,000 square foot lifestyle office property in Dallas, for $218 million [3]

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Core Viewpoint - Cousins Properties Incorporated held its Q2 2025 earnings call on August 1, 2025, with key executives present to discuss financial performance and strategic initiatives [1][2][3]. Company Participants - The call featured several high-ranking officials from the company, including the President and CEO, Chief Financial Officer, and Chief Investment Officer, indicating a comprehensive leadership presence [1][3]. Financial Reporting - A press release and supplemental financial package were distributed prior to the call, which included reconciliations of non-GAAP financial measures to GAAP measures, highlighting the company's commitment to transparency in financial reporting [4].

Core Insights - Cousins Properties (CUZ) reported second-quarter 2025 funds from operations (FFO) per share of 70 cents, matching the Zacks Consensus Estimate and reflecting a 2.9% year-over-year increase [1][10] - The company experienced healthy new and expansion leasing activity, but faced a decline in weighted average occupancy and increased interest expenses, impacting growth [2][6] - Rental property revenues rose 12.4% year-over-year to $237.7 million, although it fell short of the Zacks Consensus Estimate of $242.5 million [3] Financial Performance - Total revenues increased by 12.7% year-over-year to $240.1 million [3] - Same-property rental property revenues on a cash basis decreased by 0.6% year-over-year to $192.1 million, while same-property operating expenses fell by 3.7% to $69.0 million, resulting in a 1.2% increase in same-property net operating income [5] - The weighted average occupancy for the same-property portfolio was 88.4%, a slight decline from the previous year [5] Leasing Activity - CUZ executed leases for 334,000 square feet of office space in Q2, with 268,000 square feet attributed to new and expansion leases, accounting for 80% of total leasing activity [4][10] Balance Sheet and Debt - At the end of Q2 2025, CUZ had cash and cash equivalents of $416.8 million, a significant increase from $7.3 million at the end of 2024 [7] - The net debt-to-annualized EBITDAre ratio was 5.11, up from 4.87 in the prior quarter, while fixed charges coverage (EBITDAre) decreased to 3.73X from 4.05X [7] 2025 Outlook - CUZ revised its 2025 FFO per share guidance to a range of $2.79 to $2.85, up from the previous range of $2.75 to $2.83, with the new midpoint indicating a 4.8% growth rate year-over-year [8][10]

Financial Data and Key Metrics Changes - The company reported $0.70 per share in FFO, exceeding consensus by $0.01 [8] - Same property net operating income increased by 1.2% on a cash basis and 1.6% year to date [8] - The midpoint of the full-year guidance was increased to $2.82 per share, representing a 4.8% growth rate over the previous year [10][38] Business Line Data and Key Metrics Changes - Leasing activity was strong, with 334,000 square feet of leases completed, 80% of which were new or expansion leases [9][19] - Cash rents on second generation space increased by 10.9% in the quarter and 5.4% year to date [9][20] - The average net rent for the quarter was $40.95, a 14% increase over the previous quarter [21] Market Data and Key Metrics Changes - The office market in Atlanta saw a significant reduction in inventory, with a decrease of 2.9 million square feet, marking the largest quarterly reduction recorded [23] - In Austin, market leasing volume reached 1.2 million square feet, up 11.4% from the three-year quarterly average [22] - The Tampa market experienced a 50 basis point drop in total vacancy, with leasing velocity 12.5% ahead of last year [26] Company Strategy and Development Direction - The company aims to grow earnings, cash flow, and NAV by increasing occupancy and reducing CapEx [13] - There is a focus on upgrading the quality of the lifestyle portfolio and enhancing geographic and industry diversification [13] - The company plans to recycle capital from older properties with lower occupancy and higher CapEx profiles to fund new acquisitions [14] Management's Comments on Operating Environment and Future Outlook - Management noted that while uncertainties over tariffs and interest rates remain, there are encouraging signs in the Sunbelt lifestyle office market [11] - The investment sales market is opening up, with more private investors actively pursuing office acquisitions [12] - Management expressed confidence in the ability to grow earnings both organically and externally while improving the portfolio [15] Other Important Information - The company completed the acquisition of The Link in Uptown Dallas for $218 million, which is expected to be immediately accretive to earnings [28][31] - The company has executed transactions totaling $2.3 billion in lifestyle office properties since 2019, while also selling $1.3 billion of non-core assets [14] Q&A Session Summary Question: Can you provide more context around the underwriting of The Link acquisition? - Management highlighted the opportunity due to significantly below-market rents and a strong rent roll with minimal CapEx needs [42][43] Question: How much are you looking at in terms of potential acquisitions? - Management is continuously evaluating market and off-market opportunities and expects more compelling opportunities in the second half of the year [44] Question: Which market saw a decline in leasing spreads? - The only market that did not see roll-ups was Phoenix, attributed to a tough comparison with limited leasing activity [47] Question: Can you discuss the leasing pipeline and trends? - The leasing pipeline remains strong across all markets, with financial services being the heaviest contributor [71] Question: What are the trends in net migration to your markets? - There is an increase in new to market requirements, particularly in Atlanta and Charlotte, as companies expand their presence in the Sunbelt [73] Question: How is the demand from Big Tech in Austin trending? - There are tangible signs of improving demand, with some companies starting to grow their footprint again [97]

Financial Data and Key Metrics Changes - The company reported $0.70 per share in Funds From Operations (FFO), exceeding consensus by $0.01 [6] - Same property net operating income (NOI) increased by 1.2% on a cash basis and 1.6% year to date [6] - The midpoint of the full-year guidance was raised to $2.82 per share, reflecting a 4.8% growth rate over the previous year [8][36] Business Line Data and Key Metrics Changes - Leasing activity was strong, with 334,000 square feet of leases completed, 80% of which were new or expansion leases [7][16] - Cash rents on second-generation space increased by 10.9% in the quarter and 5.4% year to date [7][17] - The average net rent for the quarter was $40.95, a 14% increase over the previous quarter [18] Market Data and Key Metrics Changes - The office market in Atlanta saw a significant reduction in inventory, with a decrease of 2.9 million square feet, marking the largest quarterly reduction recorded [20] - Positive net absorption was reported in the Atlanta market for the first time in ten quarters [20] - In Austin, leasing volume reached 1.2 million square feet, up 11.4% from the three-year quarterly average [19] Company Strategy and Development Direction - The company aims to grow earnings, cash flow, and net asset value (NAV) by increasing occupancy and reducing capital expenditures [11] - There is a focus on upgrading the quality of the lifestyle portfolio and enhancing geographic and industry diversification [11] - The company plans to recycle capital from older properties with lower occupancy and higher CapEx profiles to fund new acquisitions [12] Management's Comments on Operating Environment and Future Outlook - Management noted that while uncertainties over tariffs and interest rates persist, there are encouraging signs in the Sunbelt lifestyle office market [9] - The investment sales market is opening up, with more private investors actively pursuing office acquisitions [10] - Management expressed confidence in the ability to grow earnings both organically and through acquisitions, despite macroeconomic uncertainties [37] Other Important Information - The company completed the acquisition of The Link, a trophy lifestyle office property in Uptown Dallas, for $218 million [26] - The initial cash yield from The Link is anticipated to be 6.7%, with a gap yield of 8.3% [28] - The company has executed transactions totaling $2.3 billion in lifestyle office properties since 2019 [12] Q&A Session Summary Question: Can you provide more context around the underwriting of The Link acquisition? - Management highlighted the below-market rents and strong tenant profile as key factors in the acquisition decision [40][41] Question: How much are you looking at in terms of potential acquisitions? - Management is continuously evaluating market and off-market opportunities and expects more compelling options in the second half of the year [43] Question: Which market saw a decline in leasing spreads? - The Phoenix market did not see roll-ups in rents due to limited qualifying leases [46] Question: Can you discuss the non-core dispositions? - Dispositions will be driven by new investment opportunities, focusing on older properties with higher CapEx profiles [47][48] Question: What is the status of the Newhof project? - Management remains optimistic about Newhof, noting recent improvements in leasing activity and tenant interest [52][54] Question: What trends are being observed in the leasing pipeline? - The leasing pipeline remains strong across all markets, with financial services being the heaviest contributor [72] Question: How is the capital market environment currently? - The capital markets have improved, with lower borrowing costs and increased liquidity, which is favorable for transactions [102]

Acquisition Highlights - Cousins acquired The Link, a lifestyle office property in Uptown Dallas, for $218 million, which equates to $747 per square foot[2, 5] - The property encompasses 292,000 square feet and was built in 2021[5] - The property is 93.6% leased with a weighted average lease term of 9.3 years[5] - The 12-month cash yield is 6.7%, and the GAAP yield is 8.3%[5] Property Details - The Link is a 25-story lifestyle office tower located in Uptown Dallas[7] - It features first-class amenities, including a customer lounge, fitness and conference centers, and an outdoor terrace[7] - The location provides convenient access to major highways and is near Klyde Warren Park[7] Market Context - Uptown Dallas is described as a dense and amenitized submarket with declining vacancy and rent growth outpacing the national average for lifestyle office product[8, 9] Forward-Looking Statements - The report contains forward-looking statements subject to risks and uncertainties that could cause actual results to vary materially[11, 12] - These statements are based on management's beliefs, assumptions, and expectations, which may change[12]

Financial Performance - For the quarter ended June 2025, Cousins Properties reported revenue of $237.72 million, which is a 12.4% increase compared to the same period last year [1] - The earnings per share (EPS) for the quarter was $0.70, significantly up from $0.05 in the year-ago quarter [1] - The reported revenue was a surprise of -1.97% compared to the Zacks Consensus Estimate of $242.49 million [1] - The consensus EPS estimate was also $0.70, indicating no EPS surprise [1] Key Metrics - Revenues from rental property were $237.72 million, compared to the estimated $242.49 million, reflecting a 12.4% year-over-year change [4] - Other revenues amounted to $1.92 million, exceeding the estimated $0.68 million, representing a 74.8% increase year-over-year [4] - Fee income was reported at $0.49 million, slightly below the average estimate of $0.53 million, but still showing a 21.7% year-over-year increase [4] - Net earnings per share (diluted) were $0.09, compared to the average estimate of $0.08 [4] Stock Performance - Shares of Cousins Properties have returned -8% over the past month, while the Zacks S&P 500 composite has increased by 2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

分组1 - Cousins Properties reported quarterly funds from operations (FFO) of $0.7 per share, matching the Zacks Consensus Estimate, and an increase from $0.68 per share a year ago [1] - The company posted revenues of $237.72 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 1.97%, but up from $211.47 million year-over-year [2] - Cousins Properties shares have underperformed the market, losing about 11.2% since the beginning of the year compared to the S&P 500's gain of 8.2% [3] 分组2 - The current consensus FFO estimate for the coming quarter is $0.67 on revenues of $240.06 million, and for the current fiscal year, it is $2.80 on revenues of $968.54 million [7] - The Zacks Industry Rank for REIT and Equity Trust - Other is in the top 36% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The estimate revisions trend for Cousins Properties was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it will perform in line with the market [6]