Cousins Properties Inc

Latest Results (15.05.2026):

Cousins Properties Inc reports first quarter 2026 results: the company recorded a net loss available to common stockholders of $24.9 million (−$0.15 per share) for Q1 2026, driven primarily by an operating property impairment, while FFO was $122.9 million ($0.73 per share). The quarter featured strong Sun Belt leasing momentum, portfolio transactions, new financing, and an updated full‑year guidance that raises FFO guidance but lowers net income guidance due to the impairment.

Net income / impairment

Net loss available to common stockholders in Q1 2026 was $24.9 million (−$0.15 per share), versus net income of $20.9 million in Q1 2025. The decline was primarily attributable to a $36.6 million operating property impairment related to certain assets.

FFO

Funds From Operations (FFO) for Q1 2026 was $122.9 million, or $0.73 per diluted share, modestly below Q1 2025’s $124.8 million ($0.74). Full‑year 2026 FFO guidance was increased to $2.90–$2.98 per share (from $2.87–$2.97), largely reflecting share repurchases and favorable debt execution.

Same‑property performance & rent gains

Same‑property cash‑basis net operating income rose 5.5% year‑over‑year in Q1 2026. Second‑generation net rent per square foot (cash‑basis) increased 15.2%, indicating stronger re‑let and renewal economics in the portfolio.

Leasing activity

Cousins executed 932,000 square feet of office leases in Q1 2026, of which 483,000 square feet (52%) were new or expansion leases—described by management as one of the company’s best leasing quarters driven by Sun Belt migration trends.

Acquisitions and dispositions

Investing moves in Q1 2026 included the $317.5 million acquisition of 300 South Tryon (638,000 SF) in Charlotte, receipt of an $18.2 million mezzanine repayment, and the February sale of Harborview Plaza in Tampa for $39.5 million. The company entered an agreement to sell One Eleven Congress (519,000 SF in Austin) with an expected close in early Q3 2026.

Financing and capital returns

In Q1 2026 Cousins issued $500 million of 4.875% senior notes due 2033 (net proceeds ~$492.1M), repurchased 3.9 million shares at a weighted average $23.36, and subsequently closed a new five‑year $1.2 billion unsecured credit facility. The Board increased the share repurchase authorization from $250 million to $500 million after quarter end.

Guidance update

For full‑year 2026 the company updated net income guidance to $0.02–$0.10 per share (previously $0.23–$0.33), primarily due to the Q1 impairment, while raising FFO guidance to $2.90–$2.98 per share. Management assumes no SOFR cuts in 2026 and excludes speculative acquisitions or development starts from guidance.