CUZ
Cousins Properties Incorporated25.16
-0.14-0.55%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Development criteria, migration details emerge
Q&A fleshed out development hopes with 50% pre-leasing targets and 8.5-9% yields in tight spots like Dallas Uptown, Charlotte South End, and Buckhead, while staying flexible on land and partners. Management stuck to 90%+ occupancy by 2026 year-end but stressed commencement timing risks—preferring bigger leases even into 2027—and floated leased % as a steadier metric. West Coast tech eyes Austin; NYC finance Charlotte. No software tenant red flags; private capital skips large deals. Atlanta thrives diversely despite Microsoft scaling back. Pipeline chunky, conversion near-perfect. Demand accelerates. Watch leasing timing, dev starts.
Key Stats
Market Cap
4.23BP/E (TTM)
71.89Basic EPS (TTM)
0.35Dividend Yield
0.05%Recent Filings
8-K
Sun Belt office update
Cousins Properties issued its March 2026 investor presentation under Regulation FD, highlighting a premier Sun Belt lifestyle office portfolio—22.2MM SF, 90.7% leased, 2011 average vintage. It boasts $890M liquidity, 5.3x net debt/EBITDAre leverage, and $1.4B in acquisitions since 2024, fueling 11.5% FFO/share growth forecast through 2026. Leasing pipeline tops 1.2MM SF.
8-K
Issues $500M notes due 2033
Cousins Properties LP issued $500 million 4.875% senior notes due 2033 on February 20, 2026, guaranteed by the parent company. Proceeds repay credit facility borrowings tied to the 300 South Tryon acquisition—a 638,000 sq ft Charlotte office—plus working capital and debt reduction. Notes carry redemption options and debt covenants. Clean refinancing bolsters liquidity.
8-K
Authorizes $250M buyback
Cousins Properties announced a $250 million share repurchase program on February 17, 2026, authorized by its Board with no expiration date. Funding will come from non-core asset sales, retained cash, debt, or ATM settlements. Repurchases can happen anytime via open market or private deals. No obligation to buy any amount.
8-K
Acquires 100% leased Charlotte office
Cousins Properties acquired 300 South Tryon, a 638,000 sq ft trophy lifestyle office in Uptown Charlotte, for $317.5 million, closing February 2, 2026. Built in 2017, it's 100% leased with a six-year weighted average term. Funding mixes non-core sales ($63.2 million combined from Tampa and Charlotte assets), debt, and ATM proceeds. Immediately accretive to earnings. Strong Charlotte fundamentals drive rent growth.
8-K
Q4 FFO up, 2026 guide issued
Cousins Properties posted Q4 net loss of $0.02/share from impairment charges, yet FFO climbed to $0.71/share on 700k sq ft leases and 0.03% same-property cash NOI growth. Closed $317.5M 300 South Tryon buy; deals to sell Harborview ($39.5M) and Tremont ($23.7M). Issues 2026 FFO guide of $2.87-$2.97/share. Leasing momentum builds.
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