分组1 - Cousins Properties reported quarterly funds from operations (FFO) of $0.74 per share, exceeding the Zacks Consensus Estimate of $0.71 per share, and up from $0.65 per share a year ago, representing an FFO surprise of 4.23% [1] - The company posted revenues of $243.03 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 0.33%, compared to year-ago revenues of $208.82 million [2] - Over the last four quarters, Cousins Properties has exceeded consensus FFO estimates three times and topped consensus revenue estimates three times [2] 分组2 - The current consensus FFO estimate for the coming quarter is $0.70 on revenues of $243.28 million, and for the current fiscal year, it is $2.79 on revenues of $970.42 million [7] - The estimate revisions trend for Cousins Properties is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The REIT and Equity Trust - Other industry, to which Cousins Properties belongs, is currently in the bottom 35% of Zacks industries, which may impact stock performance [8]

Financial Performance - Net income available to common stockholders for Q1 2025 was $20.9 million, compared to $13.5 million in Q1 2024, representing a significant increase [104]. - Funds From Operations (FFO) for Q1 2025 was $124.8 million, representing an increase from $99.5 million in Q1 2024, with a per share amount of $0.74 compared to $0.65 [124]. - Net cash provided by operating activities increased by $16.5 million to $44.8 million in Q1 2025, driven by higher economic occupancy and the end of rent abatement periods [132]. - Other income increased by $6.8 million, primarily from the sale of a bankruptcy claim and interest income from mezzanine loans [114]. Revenue Growth - Total rental property revenues increased by 15.3%, from $208.3 million in Q1 2024 to $240.2 million in Q1 2025, driven by a 583.8% increase in non-same property revenues [107]. - Same property net operating income (NOI) increased by 4.0% year-over-year, while total NOI rose by 18.7% from $137.3 million in Q1 2024 to $163.0 million in Q1 2025 [107][120]. - NOI for the Austin market increased by $14.1 million, or 30.7%, primarily due to the acquisition of Sail Tower in December 2024 [113]. - NOI from the Charlotte market increased by $6.5 million, or 62.4%, also due to the acquisition of Vantage South End in December 2024 [113]. Expenses and Costs - General and administrative expenses rose by $1.5 million, or 16.2%, primarily due to increases in stock compensation expense [115]. - Interest expense increased by $7.9 million, or 27.2%, due to the issuance of $900 million in public unsecured senior notes in 2024 [116]. - The average tenant improvement cost per square foot for new leases increased to $15.45 in Q1 2025 from $13.53 in Q1 2024 [136]. - Total capital expenditures decreased to $54.3 million in Q1 2025 from $72.3 million in Q1 2024, mainly due to reduced spending on development projects and leasing costs [135]. Capital Management - The company maintains a disciplined approach to capital allocation, focusing on opportunistic acquisitions and maintaining a low-leverage balance sheet [101]. - Common dividends paid increased to $54.6 million in Q1 2025 from $48.6 million in Q1 2024, with future dividends expected to be funded by operating cash flows and asset sales [138]. - As of March 31, 2025, the company had $38.7 million drawn under its $1 billion unsecured credit facility, with $961.3 million available for borrowing [125]. - The company plans to actively manage its property portfolio and strategically sell non-core assets to meet future capital requirements [130]. Debt and Financing - 87% of the company's consolidated debt bears interest at a fixed rate, while 13% is based on SOFR, exposing the company to interest rate fluctuations [128]. - The company expects to refinance non-recourse mortgage loans at maturity or repay them with other capital resources, ensuring compliance with existing debt covenants [129].

Financial Performance - Net income for Q1 2025 was $20.9 million, or $0.12 per share, compared to $13.3 million, or $0.09 per share in Q1 2024, representing a 57.1% increase in net income year-over-year[13] - Funds From Operations (FFO) for Q1 2025 was $124.8 million, or $0.74 per share, compared to $99.5 million, or $0.65 per share in Q1 2024, indicating a 25.4% increase in FFO year-over-year[13] - Net income available to common stockholders rose to $20,897,000 in Q1 2025, compared to $13,288,000 in Q1 2024, marking a year-over-year increase of 57.5%[31] - Funds From Operations (FFO) for Q1 2025 was $124,834,000, up from $99,496,000 in Q1 2024, indicating a 25.5% growth[115] - The FAD (Funds Available for Distribution) for Q1 2025 was $75,626,000, with a FAD per share of $0.45[118] Revenue and Income Growth - Rental property revenues increased to $243,027,000 in Q1 2025 from $208,818,000 in Q1 2024, representing a growth of 16.4%[31] - Same property net operating income (NOI) on a cash basis increased by 2.0% in Q1 2025[13] - Same Property Net Operating Income rose to $140,710,000, reflecting a 4.0% increase from $135,286,000 year-over-year[69] - The company raised its full year FFO guidance with a new midpoint reflecting a 3.7% growth rate over the previous year[11] Leasing and Occupancy - The company executed 539,000 square feet of office leases in Q1 2025, the highest leasing activity for a first quarter since 2019[11] - The office percent leased at the end of Q1 2025 was 92.1%, up from 90.8% in 2024, indicating a 1.3 percentage point improvement[32] - Total office portfolio occupancy increased to 92.1% in Q1 2025 from 91.6% in Q4 2024[60] - The end of period leased percentage improved to 91.7% from 90.4% in the previous year[69] Assets and Liabilities - Total assets as of March 31, 2025, were $8.66 billion, a decrease from $8.80 billion as of December 31, 2024[28] - Total liabilities as of March 31, 2025, were $3.83 billion, down from $3.93 billion as of December 31, 2024[30] - The company has a total of $8,663,360,000 in consolidated total assets as of Q1 2025[107] - Net debt stands at $3,191,814,000, with a net debt to total market capitalization ratio of 39.1%[107] Market Capitalization and Stock Performance - The common stock price per share was $29.50 in Q1 2025, a decrease from $30.64 in Q4 2024[35] - The total market capitalization as of Q1 2025 was $8,157,500,000, down from $8,412,256,000 in Q4 2024, showing a decline in market valuation[35] Expenses and Financial Projections - General and Administrative Expenses for 2024 are projected at $36,566,000, with quarterly expenses ranging from $9,214,000 to $9,241,000[44] - General and administrative expenses for Q1 2025 were $10,709,000, an increase from $9,214,000 in Q1 2024[116] - The company projects full-year 2025 FFO to be between $464,109,000 and $477,611,000, translating to a per share amount of $2.75 to $2.83[118] Development and Project Costs - Estimated project costs for the development pipeline in Q1 2025 were $294,550,000, down from $441,550,000 in previous quarters, indicating a reduction in projected expenditures[33] - The company has a development pipeline of 2,219,000 square feet with an estimated project cost of $909,000 thousand[81] - The Neuhoff project has an estimated total project cost of $589,100 thousand, with the company's share being $294,550 thousand[85] Debt and Financing - The company’s total debt stands at $3,218,244 thousand, with a significant portion maturing in 2025 and 2026[93] - The weighted average interest rate for total debt is 5.00%, with a weighted average maturity of 4.2 years[97] - The company has $38.7 million drawn under the Credit Facility, with the ability to borrow an additional $961.3 million[98] Shareholder Returns - Common dividends for Q1 2025 amount to $53,732,000, compared to $53,651,000 in Q4 2024[107] - The FFO payout ratio for Q1 2025 was 71.0%, compared to 82.1% in Q1 2024, showing a decrease in payout[110]

Core Viewpoint - The article compares Cousins Properties (CUZ) and National Health Investors (NHI) to determine which stock is more attractive to value investors [1] Group 1: Zacks Rank and Valuation Metrics - CUZ has a Zacks Rank of 2 (Buy), indicating a more favorable earnings estimate revision activity compared to NHI, which has a Zacks Rank of 3 (Hold) [3] - Value investors consider various valuation metrics, including P/E ratio, P/S ratio, earnings yield, and cash flow per share to assess a company's fair value [4] Group 2: Valuation Ratios - CUZ has a forward P/E ratio of 9.88, while NHI has a forward P/E of 16.30, suggesting CUZ is undervalued relative to NHI [5] - CUZ's PEG ratio is 2.68, compared to NHI's PEG ratio of 4.96, indicating CUZ may offer better value when factoring in expected earnings growth [5] - CUZ's P/B ratio is 0.95, while NHI's P/B ratio is 2.50, further supporting the notion that CUZ is undervalued [6] Group 3: Overall Assessment - Based on the improving earnings outlook and favorable valuation metrics, CUZ is considered the superior value option at this time [7]

Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Cousins Properties (CUZ) and National Health Investors (NHI) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings es ...

Core Viewpoint - Cousins Properties is experiencing increased leasing activity in its Class A office assets located in high-growth Sun Belt markets, driven by tenant demand for premium office spaces with superior amenities, although competition and high interest expenses pose challenges to its pricing power and rent growth momentum [1][7][9]. Group 1: Positive Factors - The company has a strong portfolio of Class A office assets in the Sun Belt markets, benefiting from favorable migration trends and a pro-business environment, which has led to a rise in corporate relocations and expansions [2][3]. - In 2024, Cousins Properties executed 157 leases totaling 2 million square feet with a weighted average lease term of 7.9 years, indicating a recovery in demand for its high-quality office properties [3]. - The company is actively upgrading its portfolio by acquiring trophy assets and making strategic dispositions to enhance its asset mix, which has allowed it to focus on high-growth submarkets [4]. Group 2: Financial Health - Cousins Properties maintains a robust balance sheet with $7.3 million in cash and cash equivalents as of the end of 2024, and a net debt-to-annualized EBITDAre ratio of 5.16, providing financial flexibility to pursue growth opportunities [5]. - The company has access to a $1 billion credit facility, with $112.3 million drawn, allowing it to capitalize on improving market fundamentals [5]. Group 3: Challenges - Competition from other developers and operators in the office property sector is limiting Cousins Properties' ability to retain tenants at higher rents, impacting its pricing power [7]. - The company's assets are heavily concentrated in Atlanta, GA, and Austin, TX, which contributed 35.6% and 32.3% to its net operating income, respectively, making it vulnerable to economic downturns in these markets [8]. - As of December 31, 2024, Cousins Properties had a total debt of approximately $3.27 billion, with interest expenses rising 20.4% year-over-year to $33.1 million, indicating a significant debt burden amid high interest rates [9].

ATLANTA, March 26, 2025 /PRNewswire/ -- Cousins Properties (NYSE:CUZ) announced today that it will release its first quarter 2025 earnings after the market closes on Thursday, May 1, 2025. Cousins will hold its first quarter 2025 earnings conference call on Friday, May 2, 2025 at 10:00 a.m. (Eastern Time). The number for this call is (800) 836-8184. The live webcast of this call can be accessed on the Company's website, www.cousins.com, through the "Cousins Properties First Quarter Conference Call" link on ...

Cousins Properties (CUZ) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a ch ...

ATLANTA, March 18, 2025 /PRNewswire/ -- Cousins Properties (NYSE: CUZ) announced today that its Board of Directors has declared a cash dividend of $0.32 per common share for the first quarter of 2025. The first quarter dividend will be payable on April 15, 2025 to common shareholders of record on April 3, 2025.About Cousins Properties Cousins Properties is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company, based in Atlanta, GA and acting through its oper ...

Cousins Properties’ (CUZ) portfolio of class A office assets is concentrated in the high-growth markets in the Sun Belt region. The company is witnessing healthy leasing activity due to tenants’ preference for premium office spaces. Its capital-recycling efforts and healthy balance sheet augur well.Analysts seem positive about this Zacks Rank #2 (Buy) company. The Zacks Consensus Estimate for CUZ’s 2025 funds from operations (FFO) per share has moved 1.1% northward over the past month to $2.76.Shares of thi ...