ATLANTA (AP) — ATLANTA (AP) — Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its first quarter. The results exceeded Wall Street expectations.
The Atlanta-based real estate investment trust said it had funds from operations of $124.8 million, or 74 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 71 cents per share.
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 $20.9 million, or 12 cents per share.
The real estate company, based in Atlanta, posted revenue of $250.3 million in the period. Its adjusted revenue was $243 million.
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