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Mar 31, 2024
Cousins Properties Q1 2024 Earnings Report
Cousins Properties reported outstanding first quarter results driven by strong same-property performance and raised midpoint of full year 2024 FFO guidance.
Key Takeaways
Cousins Properties reported strong first quarter results, driven by same-property performance in its lifestyle office portfolio. The company raised its FFO guidance and received investment grade credit ratings from S&P and Moody's.
Net income available to common stockholders was $13.3 million, or $0.09 per share.
Funds From Operations (FFO) was $99.5 million, or $0.65 per share.
Same property net operating income (NOI) on a cash-basis increased 6.6%.
Executed 404,000 square feet of office leases, including 286,000 square feet of new and expansion leases.