Cousins Properties: Q1 Earnings Snapshot

ATLANTA (AP) — ATLANTA (AP) — Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Atlanta, said it had funds from operations of $98.1 million, or 65 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 64 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 $22.2 million, or 15 cents per share.

The real estate company, based in Atlanta, posted revenue of $202.7 million in the period. Its adjusted revenue was $200.1 million, also topping Street forecasts. Four analysts surveyed by Zacks expected $195.5 million.

Cousins Properties expects full-year funds from operations in the range of $2.55 to $2.65 per share.

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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