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Cousins Properties: 3Q Earnings Snapshot

·1 min read

ATLANTA (AP) _ Cousins Properties Inc. (CUZ) on Wednesday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.

The Atlanta-based real estate investment trust said it had funds from operations of $102 million, or 69 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 67 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 $28.1 million, or 19 cents per share.

The real estate company posted revenue of $183.4 million in the period. Its adjusted revenue was $179 million.

The company's shares have dropped 40% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $24.63, a fall of 37% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUZ at https://www.zacks.com/ap/CUZ