ATLANTA (AP) — ATLANTA (AP) — Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Atlanta, said it had funds from operations of $409.2 million, or $2.75 per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 66 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 $22.6 million, or 15 cents per share.
The real estate company, based in Atlanta, posted revenue of $204.3 million in the period. Its adjusted revenue was $204 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $202.3 million.
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, source Associated Press News