Cousins Properties Inc ( (CUZ) ) has released its Q1 earnings. Here is a breakdown of the information Cousins Properties Inc presented to its investors.
Cousins Properties Inc., a real estate investment trust (REIT) based in Atlanta, specializes in Class A office buildings in high-growth Sun Belt markets. The company is known for its expertise in developing, acquiring, leasing, and managing high-quality real estate assets.
In its latest earnings report for the first quarter of 2025, Cousins Properties reported a significant increase in leasing activity and raised its full-year earnings guidance. The company leased over 500,000 square feet of office space, marking its highest first-quarter leasing volume since 2019. The improved office fundamentals in the Sun Belt markets have contributed to this positive performance.
Key financial highlights include a net income of $20.9 million, or $0.12 per share, up from $13.3 million, or $0.09 per share, in the same quarter last year. Funds From Operations (FFO) also saw an increase, reaching $124.8 million, or $0.74 per share, compared to $99.5 million, or $0.65 per share, in the first quarter of 2024. The company also reported a 2.0% increase in same property net operating income on a cash basis and a 3.2% rise in second-generation net rent per square foot.
Cousins Properties’ strategic activities included the repayment of significant loans and the sale of shares under its ATM program. The company also updated its earnings guidance for the year, projecting net income between $0.26 and $0.34 per share and FFO between $2.75 and $2.83 per share, driven by higher parking income and lower real estate taxes.
Looking ahead, Cousins Properties remains optimistic about its growth prospects, supported by strong demand in its core markets and a strategic focus on high-quality assets. The company’s management continues to monitor market conditions and adjust its strategies to maximize shareholder value.