Cousins Properties: 1Q Earnings Snapshot
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ATLANTA (AP) _ Cousins Properties Inc. (CUZ) on Wednesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.
The real estate investment trust, based in Atlanta, said it had funds from operations of $64.6 million, or 15 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 15 cents per share.
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Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $16 million, or 4 cents per share.
The real estate company posted revenue of $117.2 million in the period. Its adjusted revenue was $113.3 million, topping Street forecasts. Three analysts surveyed by Zacks expected $110.2 million.
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Cousins Properties expects full-year funds from operations to be 59 cents to 63 cents per share.
The company's shares have decreased slightly more than 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.47, a rise of roughly 1 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on CUZ at https://www.zacks.com/ap/CUZ