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Cousins Properties Incorporated (CUZ-0.72%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's financial performance, including a net income available to common stockholders of $45.96 million, down from $82.96 million in the previous year.
Total revenues for the year were $856.76 million, an increase from $802.87 million in 2023, driven by higher rental property revenues.
The company completed significant acquisitions in 2024, including the purchase of Sail Tower in Austin for $521.8 million and Vantage South End in Charlotte for $328.5 million.
Cousins Properties issued $900 million in senior unsecured notes in 2024 to fund acquisitions and repay existing debt.
The company's operating properties were 91.6% leased as of December 31, 2024, with a weighted average occupancy of 89.2%.
Funds from operations, a key metric for REITs, were $414.09 million for the year, up from $398.29 million in 2023.
The company reported total assets of $8.80 billion and total liabilities of $3.93 billion as of the end of 2024.
Cousins Properties continues to focus on its strategy of owning premier office properties in Sun Belt markets, with significant investments in Atlanta, Austin, and other key cities.
The filing also discusses various risk factors, including market conditions, interest rate fluctuations, and potential impacts from cybersecurity threats.
Cousins Properties maintains a conservative balance sheet with a focus on maintaining strong leverage metrics and liquidity to support future growth opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Cousins Properties Incorporated annual 10-K report dated February 6, 2025. To report an error, please email earnings@qz.com.