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Dec 31, 2022
Cousins Properties Q4 2022 Earnings Report
Cousins Properties reported solid Q4 2022 results, highlighted by strong leasing activity and positioning for future opportunities.
Key Takeaways
Cousins Properties reported solid fourth-quarter results, with 632,000 square feet of executed leases marking the best quarter of the year. The company's Sun Belt trophy portfolio is well-positioned for the current economic climate, and its industry-leading balance sheet allows it to capitalize on compelling investment opportunities.
Net income available to common stockholders was $24.1 million, or $0.16 per share.
Funds From Operations (FFO) was $100.2 million, or $0.66 per share.
Same property net operating income (NOI) on a cash-basis increased 2.5%.
Executed 632,000 square feet of office leases.
Forward Guidance
For the year ending December 31, 2023, Cousins Properties expects net income between $0.57 and $0.69 per share and FFO between $2.52 and $2.64 per share. This guidance excludes any operating property acquisitions, operating property dispositions, or development starts.
Positive Outlook
- Net income between $0.57 and $0.69 per share.
- FFO between $2.52 and $2.64 per share.
- Guidance does not include any operating property acquisitions.
- Guidance does not include any operating property dispositions.
- Guidance does not include any development starts.
Challenges Ahead
- Guidance reflects management’s current plans and assumptions as of the date of this report.
- Guidance is subject to the risks and uncertainties more fully described in our Securities and Exchange Commission filings.
- Actual results could differ materially from this guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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