Is it Wise to Retain Cousins Properties Stock in Your Portfolio Now?

Zacks12-19

Cousins Properties’ CUZ portfolio of Class A office assets in high-growth Sun Belt markets is witnessing higher leasing activity backed by tenants’ preference for premium office spaces with class-...

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Its capital-recycling efforts are encouraging, and a healthy balance sheet aids financial flexibility.However, competition from other industry players is likely tolimit its pricing power, affecting rent growth momentum. A concentrated portfolio and high interest expenses add to its woes.Analysts seem bullish on this office REIT carrying a Zacks Rank #3 , with the Zacks Consensus Estimate for its 2024 funds from operations  per share being raised marginally northward over the past two months to $2.68.Cousins Properties focuses on maintaining a solid balance sheet with ample liquidity and limited near-term debt maturities. This helps it capitalize on improving market fundamentals. The company exited the third quarter of 2024 with cash and cash equivalents of $76.1 million. As of","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","CCI":"冠城","BK4588":"碎股","BK4223":"办公室房地产信托","CUZ":"卡津斯不动产信托基金","HIW":"海伍兹物业","BK4515":"5G概念","BK4084":"特种房地产投资信托","BK4219":"电信塔房地产信托","SLG":"SL Green Realty Corp","BK4566":"资本集团","BK4194":"办公房地产投资信托"},"translate_title":"现在在您的投资组合中保留Cousins Properties股票是否明智？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCI":1,"CUZ":1,"HIW":1,"SLG":1},"content_text":"Cousins Properties’ CUZ portfolio of Class A office assets in high-growth Sun Belt markets is witnessing higher leasing activity backed by tenants’ preference for premium office spaces with class-apart amenities. Its capital-recycling efforts are encouraging, and a healthy balance sheet aids financial flexibility.\nHowever, competition from other industry players is likely to limit its pricing power, affecting rent growth momentum. A concentrated portfolio and high interest expenses add to its woes.\nIn December 2024, Cousins announced the acquisition of Sail Tower, a trophy lifestyle office property in Downtown Austin, TX, for $521.8 million. The same month, it acquired Vantage South End, a 639,000-square-foot lifestyle office property in the thriving South End submarket in Charlotte, NC, for $328.5 million.\nAnalysts seem bullish on this office REIT carrying a Zacks Rank #3 (Hold), with the Zacks Consensus Estimate for its 2024 funds from operations (FFO) per share being raised marginally northward over the past two months to $2.68.\nOver the past six months, shares of the company have rallied 26.9%, outperforming the industry's 8.3% growth.\nImage Source: Zacks Investment Research\nWhat’s Aiding Cousins Properties?\nCousins Properties has an unmatched portfolio of Class A office assets concentrated in the high-growth Sun Belt markets. Amid favorable migration trends and a pro-business environment, corporate relocations and expansions in the Sun Belt markets have gained pace, driving the demand for office space. Properties in these markets are also expected to command higher rents compared with the broader market.\nWith a significant presence in the best urban submarkets in each city and the high-growth Sun Belt markets, Cousins Properties has been able to enjoy healthy demand for its properties. For the nine months ended September 2024, the company executed 114 leases for a total of 1.6 million square feet of office space with a weighted average lease term of 7.8 years. The company’s lease expirations through 2026 are among the lowest in the office sector. With modest lease expirations lined up, the company is well-positioned for growth.\nCousins Properties makes concerted efforts to upgrade portfolio quality with trophy asset acquisitions and opportunistic developments in high-growth Sun Belt submarkets. It also makes strategic dispositions for a better portfolio mix. The company’s strategic portfolio rebalancing efforts are expected to contribute to its future growth.\nCousins Properties focuses on maintaining a solid balance sheet with ample liquidity and limited near-term debt maturities. This helps it capitalize on improving market fundamentals. The company exited the third quarter of 2024 with cash and cash equivalents of $76.1 million. As of Sept. 30, 2024, Cousins Properties had a net debt-to-annualized EBITDAre ratio of 5.10. As of the same date, it had no amount drawn under its $1 billion credit facility. With considerable liquidity and access to capital markets, it enjoys ample flexibility to pursue compelling growth opportunities.\nWhat’s Hurting Cousins Properties?\nThere is competition from developers, owners and operators of office properties and other commercial real estate. This affects Cousins Properties’ ability to retain tenants at relatively higher rents and dents its pricing power.\nCousins Properties’ assets are mainly concentrated in Atlanta, GA, and Austin, TX. During the third quarter of 2024, Atlanta and Austin contributed 36% and 32.7%, respectively, to the company’s net operating income. Hence, any economic or political downturn in these markets is likely to affect Cousins Properties’ performance.\nDespite the Federal Reserve announcing rate cuts in recent times, the interest rate is still high and is a concern for Cousins Properties. The company has a substantial debt burden, and its total debt, as of Sept. 30, 2024, was approximately $2.83 billion. In the third quarter of 2024, interest expenses jumped 13.9% to $30.8 million year over year.\nStocks to Consider\nSome better-ranked stocks to consider from the broader REIT sector are Crown Castle Inc. CCI and Highwoods Properties HIW, each carrying a Zacks Rank #2 (buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for Crown Castle Inc.’s current-year FFO per share has moved northward marginally over the past two months to $6.99.\nThe Zacks Consensus Estimate for Highwoods Properties’ current-year FFO per share has been raised marginally over the past month to $3.62.\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\nHighwoods Properties, Inc. (HIW) : Free Stock Analysis Report\nCrown Castle Inc. (CCI) : Free Stock Analysis Report\nCousins Properties Incorporated (CUZ) : Free Stock Analysis Report\nSL Green Realty Corporation (SLG) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"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":"4.29.3","shortVersion":"4.29.3","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/2492105014"}