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Jun 30, 2021
Cousins Properties Q2 2021 Earnings Report
Reported second quarter 2021 results and raised 2021 FFO guidance.
Key Takeaways
Cousins Properties reported a strong second quarter in 2021, driven by improving office fundamentals in Sun Belt markets. Leasing volume increased to pre-Covid levels, with 74% of leases representing new and expansion space. The company raised its 2021 FFO guidance.
Net income was $0.19 per share for the quarter.
Funds from operations was $0.69 per share for the quarter.
Same property net operating income on a cash-basis increased 7.1% for the quarter.
Second generation net rent per square foot on a cash-basis increased 12.9% for the quarter.
Cousins Properties
Cousins Properties
Forward Guidance
The Company has updated its 2021 net income guidance to $0.73 to $0.81 per share from $0.74 to $0.84 per share. The Company has raised its 2021 FFO guidance to $2.70 to $2.78 per share up from $2.68 to $2.78 per share, increasing the midpoint to $2.74 from $2.73 per share.