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Why Is Cousins Properties (CUZ) Up 3.7% Since Last Earnings Report?

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A month has gone by since the last earnings report for Cousins Properties (CUZ - Free Report) . Shares have added about 3.7% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Cousins Properties due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.

Cousins Properties Q4 FFO & Revenues Surpass Estimates

Cousins Properties reported fourth-quarter 2018 FFO per share of 17 cents, beating the Zacks Consensus Estimate by a whisker. Further, the figure comes in higher than the prior-year tally of 15 cents.

The company’s fourth quarter revenue figure recorded year-over-year growth. This was supported by increment in same-property cash NOI.

Rental property revenues for the quarter came in at $119.4 million, which compares favorably with $110 million witnessed in the year-ago quarter. Moreover, the figure outpaced the Zacks Consensus Estimate of $117.9 million.

Quarter in Detail

Cousins Properties executed leases for 454,629 square feet of office space in the Oct-Dec quarter. Same-property NOI, on a cash basis, inched up 1.2% from the year-ago quarter. Moreover, second-generation net rent per square foot (cash basis) increased 13.1%.

During the quarter, the company commenced operations at the final phase of Spring & 8th, NCR's headquarters located in Midtown Atlanta.

Total expenses came in at nearly $102.5 million, up 3.2% from the prior-year quarter.

Cousins Properties exited the fourth quarter with cash and cash equivalents of $2.5 million compared with $148.9 million recorded as of Dec 31, 2017.

How Have Estimates Been Moving Since Then?

In the past month, investors have witnessed an upward trend in fresh estimates. The consensus estimate has shifted 27.74% due to these changes.

VGM Scores

At this time, Cousins Properties has an average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Cousins Properties has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.




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