Cousins Properties (CUZ) Q1 FFO & Revenues Beat Estimates

Zacks04-27

Cousins Properties’ CUZ first-quarter 2024 funds from operations (FFO) per share of 65 cents beat the Zacks Consensus Estimate of 63 cents. Results reflect better-than-anticipated revenues. Although ...

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Although ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cousins-properties-cuz-q1-ffo-165700510.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cousins Properties (CUZ) Q1 FFO & Revenues Beat Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCousins Properties (CUZ) Q1 FFO & Revenues Beat Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-27 00:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/cousins-properties-cuz-q1-ffo-165700510.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cousins Properties’ CUZ first-quarter 2024 funds from operations (FFO) per share of 65 cents beat the Zacks Consensus Estimate of 63 cents.\nResults reflect better-than-anticipated revenues. Although ...</p>\n\n<a href=\"https://finance.yahoo.com/news/cousins-properties-cuz-q1-ffo-165700510.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARE","symbol_name":"亚历山大房地产","start_time":0,"source_url":"https://finance.yahoo.com/news/cousins-properties-cuz-q1-ffo-165700510.html","article_id":"2430780450","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430780450","pubTimestamp":1714150620,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Cousins Properties’ CUZ first-quarter 2024 funds from operations  per share of 65 cents beat the Zacks Consensus Estimate of 63 cents.Results reflect better-than-anticipated revenues. Although the company witnessed healthy leasing activity, higher interest expenses acted as a dampener. CUZ also revised its 2024 outlook for FFO per share.Quarterly rental property revenues came in at $208.8 million, outpacing the Zacks Consensus Estimate of $201.8 million.On a year-over-year basis, while FFO per share remained unchanged, rental property revenues increased 4.4%.Cousins Properties executed leases for 403,654 square feet of office space in the first quarter, including 286,489 square feet of new and expansion leases.The weighted average occupancy of the same-property portfolio was 88.4%, up 140 basis points from a year ago. Our estimate was pegged at 88.5%.Cousins Properties revised its guidance for 2024 FFO per share to the range of $2.60-$2.67 from $2.57-$2.67 estimated earlier. The Zacks ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ARE":"亚历山大房地产","CUZ":"卡津斯不动产信托基金"},"translate_title":"Cousins Properties(CUZ)Q1 FFO&收入超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CUZ":1,"ARE":0.9},"content_text":"Cousins Properties’ CUZ first-quarter 2024 funds from operations (FFO) per share of 65 cents beat the Zacks Consensus Estimate of 63 cents.\nResults reflect better-than-anticipated revenues. Although the company witnessed healthy leasing activity, higher interest expenses acted as a dampener. CUZ also revised its 2024 outlook for FFO per share.\nQuarterly rental property revenues came in at $208.8 million, outpacing the Zacks Consensus Estimate of $201.8 million.\nOn a year-over-year basis, while FFO per share remained unchanged, rental property revenues increased 4.4%.\nQuarter in Detail\nCousins Properties executed leases for 403,654 square feet of office space in the first quarter, including 286,489 square feet of new and expansion leases.\nThe same-property rental property revenues, on a cash basis, rose 3.6% year over year to $190.8 million. The same-property rental property operating expenses on a cash basis fell 1.1% to $69.4 million in the first quarter of 2024. As a result, the same-property net operating income, on a cash basis, climbed 6.6% to $121.4 million from the prior-year period.\nThe weighted average occupancy of the same-property portfolio was 88.4%, up 140 basis points from a year ago. Our estimate was pegged at 88.5%.\nCUZ ended the quarter with the same-property portfolio being leased 90.8%, up from 90.6% at the end of the year-ago period.\nThe second-generation net rent per square foot (cash basis) climbed 5.3%.\nHowever, interest expenses jumped 15.5% year over year to $28.9 million during the quarter. Our estimate for the metric was pegged at $27.7 million.\nBalance Sheet\nCUZ exited the first quarter with cash and cash equivalents of $5.5 million, down from $6 million as of Dec 31, 2023.\nThe company’s net debt-to-annualized EBITDAre ratio in the quarter was 5.25 compared with 5.13 in the year-ago quarter.\n2024 Outlook Revised\nCousins Properties revised its guidance for 2024 FFO per share to the range of $2.60-$2.67 from $2.57-$2.67 estimated earlier. The Zacks Consensus Estimate for the same is presently pegged at $2.61, which is within expectations.\nThe increase in FFO is mainly due to higher parking revenues and termination fees.\nCUZ currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\n\nCousins Properties Incorporated Price, Consensus and EPS Surprise\n\nCousins Properties Incorporated price-consensus-eps-surprise-chart | Cousins Properties Incorporated Quote\n\nPerformance of Other REITs\nAlexandria Real Estate Equities, Inc. ARE reported first-quarter 2024 adjusted funds from operations (AFFO) per share of $2.35, which beat the Zacks Consensus Estimate of $2.31. The reported figure also climbed 7.3% from the year-ago quarter.\nResults reflected a rise in revenues, aided by decent leasing activity and rental rate growth. Alexandria also narrowed its 2024 outlook.\nCrown Castle CCI reported first-quarter 2024 AFFO per share of $1.72, outpacing the Zacks Consensus Estimate by a penny. Results reflected better-than-anticipated revenues, with the company reporting net revenues of $1.64 billion, beating the Zacks Consensus Estimate of $1.63 billion.\nHowever, on a year-over-year basis, AFFO per share declined 9.9% while revenues fell 7.4%.\nNote: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCrown Castle Inc. (CCI) : Free Stock Analysis Report\nCousins Properties Incorporated (CUZ) : Free Stock Analysis Report\nAlexandria Real Estate Equities, Inc. (ARE) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430780450"}