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REIT owning high-quality office buildings concentrated in growing Sun Belt cities like Atlanta and Austin.
REIT owning high-quality office buildings concentrated in growing Sun Belt cities like Atlanta and Austin.
Collects rent under long office leases with built-in annual increases, but must spend heavily on tenant improvements and commissions to sign or renew them, so occupancy and leasing costs decide cash flow. Big Sun Belt cities such as Atlanta, Austin and Charlotte are the core. A 2019 merger with TIER REIT added to its Sun Belt holdings.
Moat: narrow (scale, installed base). A high-quality Sun Belt office portfolio benefits from migration trends versus struggling gateway-city office markets.
Headquarters: Atlanta, Georgia, US · Founded: 1958 · Employees: 351
Size Cousins Properties (CUZ) is a United States Real Estate company (Real Estate Investment Trusts) with a market value of $4.87B, the 1199th largest of 3,117 United States companies the cockpit tracks. Shares closed at $29.60 on 6 Nov 2026.
Performance Over six months the shares gained 10.6%, against -5.2% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 8.5% over the last twelve months (peer median +2.1%); the operating margin is 23.6% (peer median 39.7%).
Valuation It trades at 1.10× book value against a peer median of 1.32× (9th cheapest of 21).
Price implies The share price implies a return on equity of about 11.4%; Cousins Properties delivers 0.3%, so the price asks more than the business earns today.
Credit Cousins Properties has 4 bonds outstanding ($1.90B), rated BBB by the agencies and trading like BBB at a weighted spread of 108 bp.
Short interest Short interest is 8.3% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.05B | $994M | $857M | $803M | $762M |
| Revenue growth | — | +16% | +7% | +5% | — |
| Gross profit | $291M | $263M | $210M | $221M | $206M |
| EBITDA | $670M | $638M | $537M | $501M | $471M |
| Net income | $14.8M | $40.5M | $46.0M | $83.0M | $167M |
| Free cash flow | $137M | $135M | $148M | $99.8M | $39.7M |
| Capital expenditure | $285M | $267M | $253M | $280M | $342M |
| Total debt | $3.77B | $3.51B | $3.26B | $2.55B | $2.44B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Cousins Properties CUZ | $4.87B | +11% | +8% | 0% | 1.10× | 11.4% |
| Highwoods Properties HIW | $3.47B | +24% | +6% | 8% | 1.48× | 13.8% |
| Kilroy Realty KRC | $4.21B | +3% | -4% | 1% | 0.80× | 9.3% |
| BXP BXP | $10.4B | +11% | +3% | 10% | 2.00× | 17.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CUZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.8% | +4.9% | 10th highest of 21 |
| 6-month return | +10.6% | -5.2% | 3rd highest of 21 |
| Return on equity | 0.3% | 6.3% | 2nd lowest of 21 |
| Price / book | 1.10× | 1.32× | 9th cheapest of 21 |
| Trailing P/E | 326.0× | 21.1× | 2nd most expensive of 20 |
| ROE the price implies | 11.4% | 8.3% | 9th most demanding of 21 |
| ROE delivered | 0.3% | 6.0% | 2nd lowest of 20 |
| Bond spread | 108 bp | 128 bp | 3rd tightest of 9 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Cousins Properties CUZ | United States | $4.87B | +11% | +8% | 0% | 1.10× | 11.4% | 0.3% |
| Japan Metropolitan Fund Investment 8953.T | Japan | $4.87B | -8% | 0% | 7% | 1.17× | 4.8% | 7.1% |
| Mapletree Pan Asia Commercial Trust N2IU.SI | Singapore | $4.89B | -7% | -5% | 3% | 0.68× | 5.0% | 2.8% |
| Japan Real Estate Investment 8952.T | Japan | $4.98B | -10% | -1% | 7% | 1.41× | 6.1% | 6.7% |
| Kite Realty Group Trust KRG | United States | $5.04B | -4% | -7% | 12% | 1.84× | 14.6% | 11.5% |
| General de Galerias Comerciales GGC.MC | Spain | $4.70B | 0% | +3% | 18% | 3.99× | 13.5% | n/a |
| Keppel DC REIT AJBU.SI | Singapore | $4.67B | -6% | +30% | 11% | 1.26× | 6.8% | 11.4% |
| Rithm Capital RITM | United States | $5.15B | -6% | +19% | 6% | 0.74× | 8.7% | 5.6% |
| Americold Realty Trust COLD | United States | $4.57B | +8% | 0% | -16% | 1.89× | 15.5% | -16.5% |
| EPR Properties EPR | United States | $4.56B | +2% | +7% | 13% | 1.95× | 16.8% | 12.7% |
| Chartwell Retirement Residences CSH-UN.TO | Canada | $5.25B | +3% | +24% | 1% | 3.92× | 22.6% | 0.5% |
| Mirvac MGR.AX | Australia | $5.27B | +14% | +6% | 7% | 0.83× | 9.9% | 7.4% |
| Mapletree Logistics Trust M44U.SI | Singapore | $4.47B | -6% | -1% | 3% | 0.87× | 5.7% | 3.3% |
| Starwood Property Trust STWD | United States | $4.46B | -32% | +11% | 3% | 0.69× | 8.0% | 3.4% |
| Apple Hospitality REIT APLE | United States | $4.46B | +34% | +1% | 6% | 1.42× | 12.2% | 5.5% |
| Tanger SKT | United States | $4.45B | +6% | +11% | 19% | 6.60× | 51.9% | 19.3% |
| Dexus DXS.AX | Australia | $4.44B | 0% | -28% | 5% | 0.65× | 8.0% | 4.9% |
| RioCan Real Estate Investment Trust REI-UN.TO | Canada | $4.41B | -3% | -13% | 7% | 0.86× | 7.7% | 6.9% |
| OUTFRONT Media OUT | United States | $5.42B | -9% | +8% | 36% | 7.82× | 77.8% | 36.2% |
| Nippon Prologis REIT 3283.T | Japan | $4.37B | -8% | +9% | 6% | 1.39× | 6.6% | 6.0% |
| Gecina GFC.PA | France | $5.47B | -8% | +1% | 2% | 0.48× | 6.9% | 1.6% |
Cousins Properties has 4 bonds outstanding with $1.90B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.79%, a spread of 108 bp over government bonds.