Cousins Properties(US:CUZ) ZACKS·2025-10-31 13:41Core Insights - Cousins Properties (CUZ) reported third-quarter 2025 funds from operations (FFO) per share of 69 cents, matching the Zacks Consensus Estimate and reflecting a 3% year-over-year increase [1][10] - The company experienced strong leasing activity but faced challenges with decreased weighted average occupancy and increased interest expenses [1][5] - CUZ raised its 2025 FFO per share outlook to a range of $2.82 to $2.86, up from the previous guidance of $2.79 to $2.85 [7][10] Financial Performance - Rental property revenues increased by 18.9% year over year to $246.5 million, exceeding the Zacks Consensus Estimate of $243.1 million [2][10] - Total revenues grew 18.7% year over year to $248.3 million [2] - Same-property rental property revenues on a cash basis rose 3.7% year over year to $195.4 million, while operating expenses increased by 10.3% to $71.3 million [4] Leasing Activity - CUZ executed leases for 551,398 square feet of office space in Q3, including 208,783 square feet of new and expansion leases [3] - The weighted average occupancy of the same-property portfolio was 87.4%, down 70 basis points from the previous year [4][5] - The second-generation net rent per square foot (cash basis) increased by 4.2% [5] Balance Sheet and Financial Ratios - CUZ ended the quarter with cash and cash equivalents of $467.5 million, up from $416.8 million as of June 30, 2025 [6] - The net debt-to-annualized EBITDAre ratio was 5.38, compared to 5.11 in the prior quarter, while fixed charges coverage (EBITDAre) decreased to 3.50X from 3.73X [6] Market Position - CUZ currently holds a Zacks Rank 2 (Buy) [8]