Financial Performance - Net income available to common stockholders for Q3 2025 was $8.6 million, or $0.05 per share, compared to $11.2 million, or $0.07 per share in Q3 2024[12]. - Funds From Operations (FFO) for Q3 2025 was $116.5 million, or $0.69 per share, compared to $102.3 million, or $0.67 per share in Q3 2024[12]. - Rental property revenues for Q3 2025 reached $246.461 million, a 19% increase from $207.260 million in Q3 2024[32]. - Net income available to common stockholders for Q3 2025 was $8.590 million, compared to $11.198 million in Q3 2024, reflecting a decrease of 23%[32]. - Funds from Operations (FFO) for Q4 2024 reached $108,916,000, up from $99,496,000 in Q3 2024, representing an increase of 14.3%[45]. - The company reported a Net Income of $13,813,000 in Q4 2024, compared to $11,356,000 in Q3 2024, an increase of 21.6%[45]. - Funds From Operations (FFO) for the nine months ended September 30, 2025, reached $358,864,000, translating to $2.13 per share, up from $305,176,000 and $2.00 per share in 2024[111]. - Full Year 2025 Guidance projects Net Income Available to Common Stockholders between $51,268,000 and $58,016,000, with per share amounts ranging from $0.30 to $0.34[115]. - Projected Funds From Operations (FFO) for 2025 is estimated to be between $475,788,000 and $482,536,000, equating to $2.82 to $2.86 per share[115]. Asset and Liability Management - Total assets increased to $8.900 billion as of September 30, 2025, compared to $8.802 billion at the end of 2024[28]. - Total liabilities increased to $4.142 billion in 2025 from $3.932 billion in 2024, marking a rise of 5.3%[30]. - Total equity decreased to $4.758 billion in 2025 from $4.870 billion in 2024, a decline of 2.3%[30]. - Total consolidated debt amounts to $3.3 billion, with 87% being fixed-rate debt at a weighted average interest rate of 4.94%[96]. - Floating rate debt constitutes 13% of total debt, amounting to approximately $458.7 million, with a weighted average interest rate of 5.71%[96]. - The company has a total of $1.7 billion in principal payments due in 2025, representing 13% of total maturities[92]. - The company’s total debt maturities are structured with 48% due thereafter, indicating a long-term debt strategy[92]. Operational Metrics - Same property net operating income (NOI) on a cash-basis increased by 0.3% for Q3 2025[20]. - The office percent leased at the end of Q3 2025 was 90.0%, down from 91.6% in Q4 2024[33]. - The company reported a net effective rent per square foot of $27.11 for YTD 2025, compared to $24.56 in 2023, indicating an increase of 10.4%[35]. - The total rentable square feet increased to 21,609 thousand in Q3 2025 from 21,113 thousand in Q4 2024, an increase of 2.3%[33]. - The company experienced a change in NOI of 3.0% over the prior year period for YTD 2025[35]. - The weighted average occupancy for Q3 2025 improved to 88.1%, compared to 87.4% in Q3 2024[70]. - The company’s portfolio includes 21,142,000 square feet of office properties, with a net operating income (NOI) of $483,685,000[63]. Market Activity and Acquisitions - The company executed 551,000 square feet of office leases in Q3 2025[20]. - The company acquired The Link, a 292,000 square foot lifestyle office property in Uptown Dallas, for $218.0 million on July 28, 2025[21]. - Completed property acquisitions include The Link Office in Dallas for $218,000,000 and Proscenium in Atlanta for $83,250,000[85]. - The company sold Carolina Square in Charlotte for a gross sales price of $105,000,000, representing a 50% ownership interest[88]. - The company completed the sale of Burnett Plaza in Fort Worth for $137,500,000, with a total square footage of 1,023,000[88]. - The company has a development pipeline totaling 3,735,000 square feet with a total project cost of $1,841,250,000[85]. - The company anticipates significant future growth through its development pipeline and strategic acquisitions[84]. Future Projections and Guidance - The company raised its FFO guidance for the year ending December 31, 2025, to between $2.82 and $2.86 per share, up from the previous range of $2.79 to $2.85 per share[21]. - The company anticipates a steady increase in NOI across various properties, with the highest projected for the 4th quarter of 2024 at $146,320,000[47]. - The total NOI for the 1st quarter of 2025 is expected to reach $163,005,000, indicating a positive growth trajectory[47]. - The company is committed to ongoing investment in new technologies and property enhancements to support future growth[47]. Shareholder Information - The Company’s common stock price per share at the end of Q3 2025 was $28.94, with 167,990 shares outstanding[102]. - The weighted average shares diluted increased from 152,040 in 2023 to a projected 168,698 in YTD 2025, indicating potential shareholder dilution[52]. - Common dividends are expected to total $199.7 million in 2024, with a per-share dividend of $1.28[106].

Core Insights - Cousins Properties has released its third quarter 2025 results, with a conference call scheduled for October 31, 2025, to discuss these results [1][2]. Company Overview - Cousins Properties 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 [3]. - The company was founded in 1958 and focuses on creating shareholder value through expertise in development, acquisition, leasing, and management of high-quality real estate assets [3]. - Cousins Properties employs a comprehensive strategy based on a simple platform, trophy assets, and opportunistic investments [3]. Financial Information - The Board of Directors of Cousins Properties has declared a cash dividend of $0.32 per common share for the third quarter of 2025 [5].

Core Insights - Cousins Properties Inc. is a real estate investment trust focused on high-quality Class A office and mixed-use properties in high-growth Sun Belt markets [1] - The company is set to report Q3 2025 earnings on October 30, with expected EPS of $0.31, a decrease from $0.67 in the prior-year period, while quarterly revenue is anticipated to reach $241.59 million, an increase from $209.21 million a year earlier [2] Historical Performance - Over the past 10 years, Cousins Properties' stock price has decreased from approximately $27.01 to $26.62, resulting in a decline in investment value from $10,000 to $9,856, despite dividend payments [3] - The company has paid about $12.22 in dividends per share over the last decade, yielding a total of $4,524 from dividends alone [4] - The total return on a $10,000 investment over 10 years is calculated at $14,380, equating to a total return of 43.80%, significantly lower than the S&P 500's total return of 294.50% during the same period [5] Future Outlook - Cousins Properties has a consensus rating of "Overweight" with a price target of $31.17, indicating a potential upside of over 17% from the current stock price [7] - The company reported Q2 2025 earnings with FFO of $0.70, surpassing the consensus estimate of $0.69, although revenues of $240.13 million fell short of the consensus of $242.15 million [7] - CEO Colin Connolly highlighted strong leasing activity, with over 80% being new or expansion leasing, and announced the acquisition of The Link, a trophy lifestyle office property in Uptown Dallas, enhancing its strategic market presence [8] - The company has raised its full-year FFO guidance, indicating a growth rate of 4.8% over the previous year [8]

Core Viewpoint - The article compares Cousins Properties (CUZ) and EastGroup Properties (EGP) to determine which stock is more attractive to value investors [1] Group 1: Investment Strategies - Value investors often utilize a combination of a strong Zacks Rank and high grades in the Value category to identify potential stocks [2] - The Zacks Rank focuses on companies with positive earnings estimate revisions, while Style Scores assess companies based on specific characteristics [2][3] Group 2: Valuation Metrics - Both CUZ and EGP currently hold a Zacks Rank of 2 (Buy), indicating positive earnings outlooks for both companies [3] - CUZ has a forward P/E ratio of 9.40, significantly lower than EGP's forward P/E of 19.78 [5] - CUZ's PEG ratio is 2.40, while EGP's PEG ratio stands at 3.61, suggesting CUZ may be more attractive based on growth expectations [5] - CUZ's P/B ratio is 0.93, compared to EGP's P/B ratio of 2.69, further indicating CUZ's relative undervaluation [6] - Based on these valuation metrics, CUZ is rated with a Value grade of B, while EGP has a Value grade of D, suggesting CUZ is the superior value option [6]

Core Points - Cousins Properties will release its third quarter 2025 earnings on October 30, 2025, after market close [1] - The earnings conference call is scheduled for October 31, 2025, at 10:00 a.m. Eastern Time [1] - A playback of the conference call will be available from October 31 to November 7, 2025 [2] Company Overview - Cousins Properties is a self-administered and self-managed real estate investment trust (REIT) based in Atlanta, GA [4] - The company primarily invests in Class A office buildings located in high-growth Sun Belt markets [4] - Founded in 1958, Cousins Properties focuses on creating shareholder value through development, acquisition, leasing, and management of high-quality real estate assets [4]

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]

Core Insights - Albert Anthony is a Croatian-American business author and media contributor with a focus on financial markets, launching a book titled "Financial Markets: The Next Generation" in 2025 [1] - He has a non-traditional financial background, having worked as an analyst in the IT sector for Fortune 500 companies, which has aided in establishing his own equities research firm, Albert Anthony & Company, in 2021 [1] - The firm operates 100% remotely and focuses on providing general market commentary and research based on publicly available data [1] Company Background - Albert Anthony & Company was founded in 2021 and is managed remotely, reflecting a modern approach to financial analysis and research [1] - The company does not engage in writing about non-publicly traded companies, small cap stocks, or startup CEOs, indicating a focus on more established market entities [1] Professional Experience - Albert Anthony has participated in numerous business and innovation conferences in Croatia, enhancing his understanding of the fast-growing southern European economy [1] - He has completed degrees and ongoing training from institutions such as Drew University and the Corporate Finance Institute, showcasing a commitment to continuous professional development [1] Media Presence - In addition to written contributions, Albert Anthony is launching a YouTube show titled "Financial Markets with Albert Anthony" in 2025, where he will provide market commentary similar to his written work [1] - He has also been involved in European casting agencies, indicating a diverse range of interests beyond financial analysis [1]

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]