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Sep 30, 2021
Cousins Properties Q3 2021 Earnings Report
Reported third quarter 2021 results and raised 2021 FFO guidance.
Key Takeaways
Cousins Properties reported strong leasing volume with almost 600,000 square feet, and a significant increase in cash net rents on new leases, up 23% compared to replaced leases. The company also raised its 2021 FFO guidance.
Net income available to common stockholders was $54.0 million, or $0.36 per share.
Funds From Operations (FFO) was $102.4 million, or $0.69 per share.
Same property net operating income on a cash-basis increased 3.6%.
Executed 597,000 square feet of office leases, including 503,000 square feet of new and expansion leases.
Forward Guidance
The Company has raised and narrowed its 2021 net income guidance to $0.91 to $0.95 per share. The Company has also raised and narrowed its 2021 FFO guidance to $2.73 to $2.77 per share, increasing the midpoint to $2.75 from $2.74 per share.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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