Cousins Properties reported fourth-quarter funds from operations (FFO) of $0.71 per share, matching the Zacks Consensus Estimate and up from $0.69 per share in the year-ago period. Total same-property net operating income grew by 3.2% year-over-year, driven by rent escalations in its Sun Belt portfolio. Occupancy across Class A office assets remained steady at 94.5%, reflecting stable tenant demand in key markets such as Atlanta, Austin and Charlotte.

On February 5, Cousins closed on the off-market purchase of 300 South Tryon, a 638,000 square-foot lifestyle office tower in Charlotte’s Uptown district, for $317.5 million. Built in 2017 and fully leased, the asset carries a weighted average lease term of six years and benefits from limited new supply in the submarket. The acquisition is expected to be immediately accretive to earnings and enhance annual cash flow by approximately $4.8 million, according to management guidance.

Cousins financed the 300 South Tryon acquisition through a combination of proceeds from non-core asset sales, debt financing and settlement of common shares under its at-the-market equity program. The company has under contract the sale of Harborview Plaza in Tampa and a Charlotte land parcel at 303 Tremont for total gross proceeds of $63.2 million, bolstering liquidity ahead of planned development starts in Austin and Nashville.

Cousins will host a fourth-quarter earnings conference call on February 6 at 10:00 a.m. ET to discuss full-year 2025 results and 2026 business objectives. Management highlighted a continued focus on high-growth Sun Belt markets, targeting annual development starts of $500 million and maintaining a leverage ratio below 5.0x net debt to EBITDA. The company’s disciplined capital allocation framework aims to drive mid-single-digit FFO per share growth over the next three years.