Company profile

Ticker
CUZ
Exchange
CEO
M. Colin Connolly
Employees
Incorporated in
Location
Fiscal year end
SEC CIK
IRS number
580869052

CUZ stock data

(
)

Calendar

24 Jul 19
24 Aug 19
31 Dec 19

News

Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 142.02M 132.73M 122.68M 118.71M
Net income -22.41M 35.34M 22.36M 19.49M
Diluted EPS -0.2 0.08 0.05 0.05
Net profit margin -15.78% 26.63% 18.23% 16.41%
Operating income 97.42M 87.73M 84.43M 80.86M
Net change in cash 8.43M 909K -80.16M -27.53M
Cash on hand 11.89M 3.46M 2.55M 82.71M
Cost of revenue 46.71M 43.49M 42.18M 41.58M
Annual (USD) Dec 18 Dec 17 Dec 16 Dec 15
Revenue 475.21M 466.19M 259.21M 204.37M
Net income 79.16M 216.28M 79.11M 125.52M
Diluted EPS 0.19 0.52 0.31 0.58
Net profit margin 16.66% 46.39% 30.52% 61.42%
Operating income 326.06M 313.21M 260.28M 241.23M
Net change in cash -146.38M 113.24M 33.68M 2M
Cash on hand 2.55M 148.93M 35.69M 2M
Cost of revenue 164.68M 163.88M 96.91M

Financial data from company earnings reports

Financial report summary

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Risks
  • Our future results will suffer if we do not effectively manage our operations following the Merger.
Management Discussion
  • Item 2.    Management's Discussion and Analysis of Financial Condition and Results of Operations
  • Cousins Properties Incorporated ("Cousins") (and collectively, with its subsidiaries, the "Company," "we," "our," or "us") is a publicly traded (NYSE: CUZ), self-administered, and self-managed real estate investment trust, or REIT. Cousins conducts substantially all of its business through Cousins Properties, LP ("CPLP"). Cousins owns approximately 99% of CPLP and consolidates CPLP. CPLP owns Cousins TSR Services LLC, a taxable entity which owns and manages its own real estate portfolio and performs certain real estate related services for other parties. Our strategy is to create value for our stockholders through ownership of the premier urban office portfolio in the Sun Belt markets, with a particular focus on Georgia, Texas, North Carolina, Arizona, and Florida. This strategy is based on a disciplined approach to capital allocation that includes strategic acquisitions, selective development projects, and timely dispositions of non-core assets. This strategy is also based on a simple, flexible, and low-leveraged balance sheet that allows us to pursue investment opportunities at the most advantageous points in the cycle. To implement this strategy, we leverage our strong local operating platforms within each of our major markets.
  • Consistent with this strategy, on June 14, 2019, we merged with TIER REIT, Inc. ("TIER") in a stock-for-stock transaction (the "Merger"). As a result, we acquired interests in nine operating properties containing 5.8 million square feet of space, two office properties under development that are expected to add 620,000 square feet of space upon completion, and seven strategically located land parcels on which we anticipate up to 2 million square feet of additional space may be developed. As a part of this transaction, we issued $650 million in senior unsecured debt at a weighted average interest rate of 3.88%, which effectively repaid the majority of the TIER debt assumed and repaid by the Credit Facility in the merger. We believe that this merger creates a company with an attractive portfolio of trophy office assets balanced across the premier Sun Belt markets. We believe that the merger will enhance our position in our existing markets of Austin and Charlotte, provide a strategic entry into Dallas, and balance our exposure in Atlanta. The Merger is also expected to enhance growth and to provide value-add opportunities as a result of TIER's active and attractive development portfolio and land bank. Immediately after the Merger and as of quarter-end, our portfolio of real estate assets consisted of interests in 38 operating properties (37 office and one mixed use), containing 21.8 million square feet of space, and five projects (four office and one mixed-use) under active development.
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Removed: Avalon, description, impact, issuance, practice, Sunbelt