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Sep 30, 2022
Cousins Properties Q3 2022 Earnings Report
Reported solid operating results driven by trophy office portfolio in dynamic Sun Belt markets.
Key Takeaways
Cousins Properties reported a strong third quarter with net income available to common stockholders at $80.6 million, or $0.53 per share, and Funds From Operations (FFO) at $104.4 million, or $0.69 per share. The company also raised its full year 2022 earnings guidance.
Net income available to common stockholders was $80.6 million, or $0.53 per share.
Funds From Operations (FFO) was $104.4 million, or $0.69 per share.
Same property net operating income (NOI) on a cash-basis increased 1.5%.
Executed 431,000 square feet of office leases.
Cousins Properties
Cousins Properties
Forward Guidance
Full year 2022 earnings guidance was raised.
Positive Outlook
- Net income between $1.10 and $1.14 per share, up from previous guidance between $0.79 and $0.85 per share.
- Increase is primarily driven by the gain on the sale of our interest in Carolina Square.
- FFO between $2.69 and $2.73 per share, up from previous guidance between $2.67 and $2.73 per share.
- Increase is primarily driven by improvements in property NOI.
- Increase is partially offset by increases in interest rates.