Cousins Properties Incorporated (NYSE: CUZ) issued a Current Report on Form 8-K on October 29, 2026, disclosing its financial results for the quarter ended September 30, 2026. The company reported a net income of $17.0 million, or $0.10 per share, for the third quarter of 2026, compared to $8.6 million, or $0.05 per share, in the prior year period. Funds From Operations (FFO) for the quarter totaled $123.8 million, or $0.75 per share, an increase from $116.5 million, or $0.69 per share, in the third quarter of 2025.
For the nine months ended September 30, 2026, net income available to common stockholders was $18.3 million, or $0.11 per share, compared to $44.0 million, or $0.26 per share, for the same period in 2025. The company attributed the decline in net income to an impairment charge. Over the first nine months of 2026, FFO reached $371.3 million, or $2.23 per share, up from $358.9 million, or $2.13 per share, in the prior year.
On an operational basis, same property net operating income (NOI) on a cash basis increased 7.4% for the third quarter of 2026, and 6.2% for the nine-month period. Second generation net rent per square foot on a cash basis rose 19.8% for the quarter and 14.2% for the year-to-date period. The company executed 546,000 square feet of office leases during the third quarter, including 220,000 square feet of new and expansion leases.
In terms of investing and financing activity, Cousins Properties acquired a preferred equity interest in 5th & Walsh, a 199,000 square foot office building under development in Austin, with a funding commitment of $31.5 million. The company also sold One Eleven Congress, a 519,000 square foot office property in Austin, for a gross sales price of $208.0 million. Additionally, the company repaid a $99.2 million mortgage note secured by Colorado Tower in Austin at par on September 1, 2026, and a $115.9 million mortgage note secured by 201 North Tryon in Charlotte at par on October 1, 2026.
Management raised its 2026 earnings guidance. The company now projects net income between $0.14 and $0.18 per share, up from the previous range of $0.08 and $0.14 per share. FFO is expected to be between $2.95 and $2.99 per share, up from the prior forecast of $2.92 and $2.98 per share. The company noted that the increase in FFO is primarily driven by leasing activity and fee income that exceeded prior forecasts. A conference call to discuss the results is scheduled for Friday, October 30, 2026, at 10:00 a.m. Eastern Time.
