Cousins Properties Stock Earnings Reports

Cousins Properties reported a strong Q1 2026: FFO of $0.73/share, $0.02 above consensus, and raised full-year FFO guidance to $2.94/share (midpoint), implying ~3.5% growth vs. 2025. Leasing was exceptional (932k SF signed, one of the largest quarters in company history) with second-generation cash rent roll-ups of 15.2% and 48 consecutive quarters of positive rent roll-ups. Occupancy rose to 88.9% (portfolio lease % 91.8%), and the late‑stage leasing pipeline remains healthy (~1.0M SF signed or in negotiations Q2-to-date). Strategic activity included closing the $317.5M acquisition of 300 S. Tryon (Uptown Charlotte), repurchasing 3.9M shares (weighted avg $23.36), and several dispositions (Harborview Plaza closed; 111 Congress and 303 Tremont under contract). Neuhoff (Nashville) moved off the development schedule as its office component reached ~84% leased after Oracle signed for ~116k SF; Phase 2 land is held and offers potential future development optionality. Balance sheet and liquidity: new $1.2B 5‑yr credit facility closed, $500M 7‑yr bond issued earlier in the year, net debt/EBITDA slightly elevated at 5.66x on a timing basis but expected to return to historic low‑5x range after asset sales and funding actions. Management emphasized secular tailwinds (return‑to‑office, flight to quality, accelerated Sunbelt migration, limited new supply) favoring premium lifestyle office assets and reiterated a disciplined, earnings‑accretive capital allocation approach (acquisitions, development optionality, share buybacks, targeted dispositions).