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Dec 31, 2024
Cousins Properties Q4 2024 Earnings Report
Estimated Revenue:$213M
+9.7% YoY
Estimated EPS:$0.0709
88.8% YoY
Key Takeaways
Cousins Properties reported a decrease in net income available to common stockholders for the fourth quarter of 2024, primarily attributable to increased depreciation expense. However, Funds From Operations (FFO) increased compared to the fourth quarter of 2023. The company invested almost $1 billion into trophy lifestyle office properties in Sun Belt markets.
Net income available to common stockholders was $13.6 million, or $0.09 per share.
Funds From Operations (FFO) was $108.9 million, or $0.69 per share.
Same property net operating income (NOI) on a cash-basis increased 3.4%.
Executed 462,000 square feet of office leases, including 270,000 of new and expansion leases.
Revenue by Segment
Forward Guidance
For the year ending December 31, 2025, Cousins Properties provides earnings guidance including net income between $0.25 and $0.35 per share and FFO between $2.73 and $2.83 per share.
Positive Outlook
- Guidance includes the disposition of our bankruptcy claim with SVB Financial Group, which we sold for $4.6 million in February 2025.
- Guidance includes the assumed refinancing of the $250.0 million Senior Note that matures July 6, 2025.
- 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 earnings release.
- 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.
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Avg. Return Before/After Earnings
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