Cousins Properties Inc Dossier
|
SectorReal Estate IndustryREIT - Office Beta (adjusted)1.13 Intrinsic Value $24.65median of 1 methodbased on filings through 30 Jun 2026 Market Price $27.63Price as of 1 Oct 2026 Near fair valueIntrinsic value is 11% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $4.5B Enterprise Value $8.3B Shares Outstanding 166.5M diluted Next Earnings Date29 Oct 2026 Last ex-dividend6 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Cousins Properties (CUZ) represents a premier, Sunbelt-focused office REIT that is successfully navigating the challenging post-pandemic office landscape. By concentrating on Class A and trophy office towers in high-growth markets (such as Atlanta, Austin, Charlotte, and Dallas), the company capitalizes on the structural 'flight to quality' trend. Strong leasing momentum, robust rent spreads, and a highly disciplined balance sheet with low leverage position Cousins to outperform its peers. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$30.00 Mean target$33.55 High · most bullish analyst$35.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 18 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $30.0015% Persistent hybrid work trends and a broader economic slowdown lead to major tenant bankruptcies or downsizings. Occupancy falls below 87%, and elevated interest rates increase refinancing costs, squeezing margins and forcing a reduction in capital recycling activities. Base CaseCentral scenario $33.5560% Matches the consensus meanSteady leasing execution maintains portfolio occupancy around 88-89% with moderate positive rent spreads. The company successfully integrates recent acquisitions like 300 South Tryon in Charlotte and executes its share buyback program, delivering stable FFO growth in line with guidance. Bull CaseUpside scenario $35.0025% Accelerated corporate relocations to the Sunbelt and rapid return-to-office mandates drive occupancy back above 90%. Strong demand allows Cousins to command premium rental rates, leading to double-digit FFO growth and significant valuation multiple expansion. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
Thesis Invalidation Triggers
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |