Cousins Properties Incorporated (NYSE:CUZ) Q1 2023 Results Conference Call April 28, 2023 11:00 AM ET Company Participants Pamela Roper - General Counsel Colin Connolly - President and Chief Executive Officer Richard Hickson - Executive Vice President of Operations Gregg Adzema - Chief Financial Officer Conference Call Participants Blaine Heck - Wells Fargo Anthony Powell - Barclays John Kim - BMO Capital Dylan Burzynski - Green Street Camille Bonnel - Bank of America Operator Good day, and welcome to the C ...

Credit Facility Secured Mortgage Notes The table below presents the effect of the Company's derivative financial instruments on the consolidated statements of operations for the three months ended March 31, 2023 and 2022 ($ in thousands): For the three months ended March 31, 2023, the Company recognized fee and other revenue of $2.7 million. For the three months ended March 31, 2022, the Company recognized fee and other revenue of $3.7 million. The $3.7 million fee and other revenue includes $814,000 of inc ...

Financial Data and Key Metrics Changes - The company reported a fourth-quarter FFO of $0.66 per share, with same property net operating income (NOI) increasing by 2.5% on a cash basis [25][40] - The cash rent roll-up for the fourth quarter was 7.3%, while the full-year cash rent roll-up was 9.5% [11][25] - The net debt-to-EBITDA ratio closed the year at 4.9 times, significantly lower than the Green Street sector average of 8.2 times [30][42] Business Line Data and Key Metrics Changes - The company executed 632,000 square feet of leases in the fourth quarter, marking the highest quarterly volume of 2022 [33] - Excluding Houston, second-generation net rents increased by 27.7% on a cash basis in the fourth quarter [12] - Parking revenues during the fourth quarter were the highest since Q1 2020, with a 10% year-over-year increase for all of 2022 [17] Market Data and Key Metrics Changes - The physical office occupancy averaged over 50% during the last week of January, with Austin leading at 68% [4] - In Austin, the company signed 153,000 square feet of leases in the last quarter, rolling up cash net rents over 40% on average [37] - The Atlanta Metro recorded 485,000 square feet of net absorption last quarter, with Class A rents up 5% year-over-year [57] Company Strategy and Development Direction - The company aims to build a preeminent Sun Belt REIT, focusing on high-quality, amenitized office spaces [28] - The development pipeline is currently valued at $428 million, with 63% pre-leased [7] - The company is positioned to benefit from improving supply and demand fundamentals in the office market [5][8] Management's Comments on Operating Environment and Future Outlook - Management anticipates that market conditions will become more challenging in 2023 but believes the company is well-positioned to thrive [6][8] - There is optimism that premier workplaces will become a distinct asset class with improved sentiment over the long term [8] - The company expects to maintain occupancy and potentially grow it towards the end of 2023, despite modest lease expirations [14][29] Other Important Information - The company has no significant near-term loan maturities and approximately $950 million available on its $1 billion revolving credit facility [30] - The company anticipates full-year 2023 FFO between $2.52 and $2.64 per share, with no property acquisitions or dispositions included in this guidance [19] Q&A Session Summary Question: How are leasing conversations going at Neuhoff in Nashville? - Management expressed excitement about the Neuhoff project and noted increased activity as the project nears completion, with hopes to sign leases this year [64] Question: What are the current market dynamics affecting leasing spreads? - Management indicated that leasing spreads were significantly higher excluding Houston, with Austin being a key driver [75] Question: What is the company's strategy regarding floating rate debt? - The company plans to maintain floating rate debt at around 20% of total debt, consistent with industry peers [97] Question: How does the company view the transaction environment in the current market? - Management noted a potential increase in off-market discussions as owners with weak capital structures begin to reach out [66] Question: What is the expected impact of lease expirations on occupancy? - Management clarified that they expect to maintain occupancy levels despite low lease expirations, with a focus on renewals [68][70]

INVESTMENT ACTIVITY Completed Operating Property Dispositions | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------------|--------|-------------|-------------------------------|--------|-------------|-------|------------------------------------|-------| | Property | Type | Market | Company's Ownership Interest | Timing | Square Feet | | Gross Sales Price ($ in thousands) | | | 2022 | | | | | | | | | | Carolina Square | Mixed | Charlotte | 50% | | | | 3Q 468,000 $ 105,000 (1) | | | 20 ...

Our executive offices are located at 3344 Peachtree Road NE, Suite 1800, Atlanta, Georgia 30326-4802, and we maintain regional offices in each of our additional key operating markets of Austin, Charlotte, Phoenix, Tampa, and Dallas. We recognize that our achievements and progress on our corporate strategy are made possible by the attraction, development, and retention of our dedicated employees. We regularly evaluate, modify, and enhance our internal processes and technologies to increase employee engagemen ...

INVESTOR PRESENTATION November 2022 WHY COUSINS? • 100% Sun Belt / 100% Class A / 2004 average year built1 • 34% of portfolio less than 5 years old or recently redeveloped1,2 • CUZ asking rents 10% higher than pre-pandemic levels and 24% higher than Class A avg3,4 PREMIER SUN BELT PORTFOLIO BENEFITING FROM POWERFUL OFFICE TRENDS • Migration to the Sun Belt leading to outsized population and job growth • Flight to quality driving demand for newer, highly-amenitized assets • Modest lease expirations well belo ...

Cousins Properties Incorporated (NYSE:CUZ) Q3 2022 Earnings Conference Call October 28, 2022 11:00 AM ET Company Participants Pamela Roper - General Counsel Michael Connolly - President and CEO Richard Hickson - EVP, Operations Gregg Adzema - CFO Conference Call Participants Blaine Heck - Wells Fargo Dave Rodgers - Baird Brian Spahn - Evercore ISI Camille Bonnel - Bank of America Vikram Malhotra - Mizuho Anthony Powell - Barclays Daniel Ismail - Green Street Operator Good morning, and welcome to the Cousins ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-11312 (404) 407-1000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: ...

Cousins Properties, Inc. (NYSE:CUZ) Q2 2022 Earnings Conference Call July 29, 2022 11:00 AM ET Company Participants Pamela Roper - EVP, General Counsel & Corporate Secretary Michael Connolly - President, CEO & Director Richard Hickson - EVP, Operations Gregg Adzema - EVP & CFO Conference Call Participants Anthony Powell - Barclays Bank Blaine Heck - Wells Fargo Securities James Feldman - Bank of America Merrill Lynch Daniel Ismail - Green Street Advisors Vikram Malhotra - Mizuho Securities David Rodgers - R ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-11312 (404) 407-1000 (Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indic ...