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Cousins Properties
(NYSE:CUZ)
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Rating:63Neutral
Price Target:
$34.00
â–²(5.75% Upside)
Action:Reiterated
Date:07/31/26
The score is supported most by a positive earnings call (raised FFO guidance, strong leasing/rent roll-ups, and solid financing/buyback actions) and a clear upward price trend versus major moving averages. Offsetting these positives, the financial statements show near-term pressure (sharp TTM revenue decline, a small net loss, and negative free cash flow) and valuation is only moderately supportive due to a non-meaningful negative P/E despite an attractive ~4% dividend yield.
Positive Factors
Sustained leasing momentum & rent roll-ups
High and consistent leasing volume plus consecutive positive second-generation rent roll-ups indicate durable organic NOI growth. Large lease volumes and meaningful rollback in rents support long-term cash flow resilience, improve occupancy, and reduce reliance on acquisitions to drive revenue growth.
Negative Factors
Elevated leverage (timing dependent)
Materially elevated net leverage reduces financial flexibility and increases sensitivity to interest rates or market dislocations. Reliance on planned asset sales to hit target leverage creates execution timing risk; prolonged elevation could raise borrowing costs and constrain investment or dividend policy.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained leasing momentum & rent roll-ups
High and consistent leasing volume plus consecutive positive second-generation rent roll-ups indicate durable organic NOI growth. Large lease volumes and meaningful rollback in rents support long-term cash flow resilience, improve occupancy, and reduce reliance on acquisitions to drive revenue growth.
Read all positive factors
Cousins Properties (CUZ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.19B
Dividend Yield4.06%
Average Volume (3M)1.64M
Price to Earnings (P/E)767.6
Beta (1Y)0.83
Revenue Growth11.89%
EPS Growth-89.22%
CountryUS
Employees351
SectorReal Estate
Sector Strength53
IndustryREIT - Office
Share Statistics
EPS (TTM)0.04
Shares Outstanding164,602,050
10 Day Avg. Volume1,274,135
30 Day Avg. Volume1,636,273
Financial Highlights & Ratios
PEG Ratio-5.37
Price to Book (P/B)0.93
Price to Sales (P/S)4.36
P/FCF Ratio32.06
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$34.00Price Target Upside5.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)0.08
Revenue Forecast (FY)$1.05B
Cousins Properties Business Overview & Revenue Model
Company Description
Cousins Properties functions as a self-governing and fully integrated Real Estate Investment Trust (REIT) based in Atlanta, Georgia. Operating via its partnership, Cousins Properties LP, the firm primarily focuses on investing in prestigious Class...
How the Company Makes Money
Cousins Properties primarily makes money by generating recurring real estate revenues from its office portfolio. The largest revenue stream is rental income earned under leases with office tenants, which typically includes (1) base rent and (2) re...
Cousins Properties Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum: an earnings beat, a raised FFO guidance midpoint, record-level leasing (932k sq ft), meaningful rent roll-ups (+15.2%), same-property NOI growth (+5.5% YoY), improved occupancy trends and an accretive trophy acquisition. Capital markets execution was solid (bond issuance, new $1.2B facility) and buybacks were accelerated with additional authorization. Key near-term risks are primarily execution and timing-related—elevated net leverage (5.66x) that management expects to normalize with planned asset sales, unsettled forward share settlements used in modeling, potentially higher second-generation CapEx/FAD outflows tied to strong leasing, and sensitivity to interest rates (no SOFR cut assumed). Overall, positive operating fundamentals and balance-sheet actions outweigh the execution/timing risks.Positive Updates
FFO Beat and Guidance Raise
Reported FFO of $0.73 per share in Q1, $0.02 above consensus; raised 2026 FFO guidance midpoint to $2.94 (guidance range $2.90–$2.98), representing ~3.5% growth over 2025 and a 3.9% CAGR since 2023.
Negative Updates
Elevated Leverage (Timing Issue)
Net debt to EBITDA is 5.66x this quarter (above the company's target of low-5x), though management characterizes this as a timing issue tied to pending asset sales and repurchase funding.
Read all updates
Q1-2026 Updates
Positive
Negative
FFO Beat and Guidance Raise
Reported FFO of $0.73 per share in Q1, $0.02 above consensus; raised 2026 FFO guidance midpoint to $2.94 (guidance range $2.90–$2.98), representing ~3.5% growth over 2025 and a 3.9% CAGR since 2023.
Read all positive updates
Company Guidance
Cousins updated 2026 FFO guidance to $2.90–$2.98 per share (midpoint $2.94, up from a prior midpoint of $2.92), implying ~3.5% growth versus 2025 (Q1 FFO was $0.73, $0.02 above consensus), and said the guidance bump was driven primarily by the recent 3.9 million share repurchase (weighted average price $23.36) and stronger-than-forecast debt execution (including a $500 million seven‑year bond at a 5% yield and a new $1.2 billion five‑year unsecured credit facility closed April 1), while eliminating any assumed SOFR cut in 2026; modeling assumptions include settlement of 2.9 million forward shares issued in 2025 (avg. $30.44) to fund the repurchase, funding the 300 South Tryon acquisition with proceeds from asset sales (Harborview Plaza sold for $39.5M; 111 Congress and 303 Tremont are under contract—the latter at $23.7M), and no additional property acquisitions, dispositions, or development starts in 2026, with leverage currently at 5.66x net debt/EBITDA expected to move back toward the low‑5x target after the contemplated asset sales.Cousins Properties Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
47
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.03B | 993.82M | 856.76M | 802.87M | 762.29M | 755.07M |
| Gross Profit | 597.38M | 263.42M | 576.10M | 536.44M | 503.92M | 495.61M |
| EBITDA | 566.33M | 456.61M | 534.10M | 504.18M | 535.57M | 634.12M |
| Net Income | 6.42M | 40.50M | 45.96M | 82.96M | 166.79M | 278.59M |
Balance Sheet | ||||||
| Total Assets | 9.04B | 8.89B | 8.80B | 7.63B | 7.54B | 7.31B |
| Cash, Cash Equivalents and Short-Term Investments | 6.70M | 5.72M | 7.35M | 6.05M | 5.14M | 8.94M |
| Total Debt | 3.90B | 3.68B | 3.15B | 2.51B | 2.39B | 2.29B |
| Total Liabilities | 4.55B | 4.19B | 3.93B | 3.09B | 2.89B | 2.71B |
| Stockholders Equity | 4.49B | 4.68B | 4.85B | 4.52B | 4.63B | 4.57B |
Cash Flow | ||||||
| Free Cash Flow | -90.49M | 135.04M | 147.50M | 88.84M | 22.93M | 389.48M |
| Operating Cash Flow | 431.95M | 402.27M | 400.23M | 368.36M | 365.17M | 389.48M |
| Investing Cash Flow | -759.63M | -425.66M | -1.31B | -295.74M | -334.50M | -191.07M |
| Financing Cash Flow | -82.46M | 21.76M | 906.47M | -71.72M | -35.69M | -194.38M |
Cousins Properties Technical Analysis
Neutral
32.15
Price Trends
29.51
Positive
26.64
Positive
25.56
Positive
Market Momentum
0.59
Positive
50.63
Neutral
14.88
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CUZ, the sentiment is Neutral. The current price of 32.15 is above the 20-day moving average (MA) of 31.37, above the 50-day MA of 29.51, and above the 200-day MA of 25.56, indicating a neutral trend. The MACD of 0.59 indicates Positive momentum. The RSI at 50.63 is Neutral, neither overbought nor oversold. The STOCH value of 14.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CUZ.
Cousins Properties Risk Analysis
Cousins Properties disclosed 26 risk factors in its most recent earnings report. Cousins Properties reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cousins Properties Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $3.65B | 21.80 | 3.09% | 5.94% | 3.30% | 28.46% | |
67 Neutral | $8.58B | 26.18 | 10.82% | 3.29% | 4.50% | 13.67% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | $5.19B | 767.64 | -0.43% | 3.98% | 11.89% | -89.22% | |
62 Neutral | $4.56B | 26.96 | 3.14% | 5.48% | -3.76% | -22.82% | |
61 Neutral | $4.04B | -20.68 | -4.61% | 4.62% | 7.51% | -386.65% | |
54 Neutral | $1.98B | -75.05 | -1.35% | 6.19% | 1.04% | -152.10% |
* Real Estate Sector Average
CUZ
Cousins Properties
30.91
5.47
21.50%
DEI
Douglas Emmett
11.96
-2.19
-15.49%
HIW
Highwoods Properties
32.98
6.52
24.63%
KRC
Kilroy Realty
39.36
3.76
10.56%
SLG
SL Green Realty
55.81
2.96
5.61%
CDP
COPT Defense Properties
37.81
10.91
40.57%
Cousins Properties Corporate Events
Business Operations and StrategyFinancial Disclosures
Cousins Properties Highlights Sun Belt Office Growth Strategy
Positive
May 4, 2026
On May 4, 2026, Cousins Properties released an investor presentation in conjunction with the Wells Fargo 29th Annual Real Estate Securities Conference, outlining how it is positioned to benefit from post-pandemic office trends. The REIT highlighte...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.