Cousins Properties (CUZ) Tops Q4 FFO by 2c

Cousins Properties (NYSE: CUZ) reported Q4 FFO of $0.23, $0.02 better than the analyst estimate of $0.21. Revenue for the quarter came in at $93.62 million versus the consensus estimate of $95.91 million.

GUIDANCE:

Cousins Properties sees FY2016 FFO of $0.86-$0.92, versus the consensus of $0.91.

"We had an outstanding fourth quarter highlighted by strong same property net operating income growth and over 1.2 million square feet of leasing," said Larry Gellerstedt, President and Chief Executive Officer of Cousins. "Looking to 2016, we are keenly focused on our Houston portfolio as office market fundamentals have weakened in reaction to depressed energy prices. However, as a result of our aggressive action of executing several large leases in Houston very early in this cycle, we now own a stable portfolio in the most protected submarkets with minimal lease expiration exposure over the next few years. Meanwhile, office fundamentals in our other Sun Belt markets are outstanding as they continue to benefit from strong employment growth and limited new office supply."

For earnings history and earnings-related data on Cousins Properties (CUZ) click here.

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