Cousins Properties, a real estate investment trust company, has released its latest investor presentation, highlighting its recent developments and performance metrics.
In terms of its office assets, Cousins focuses on commodity office assets that command premium rents and enjoy higher occupancy. These properties are located in prime markets and feature amenities such as on-site retail, food options, outdoor spaces, and fitness facilities. The company also emphasizes inspired design and efficient systems in its properties.
On the other hand, the company identifies lifestyle office assets as older vintage properties with limited amenities and outdoor activation. These assets are located in proximity to single-use office districts and lack modern designs and efficient building systems.
The presentation also showcases the company's recently completed redevelopments and its in-process redevelopment projects. It underscores the flight to quality in the office space market and the migration to sunbelt regions.
Key metrics revealed in the presentation include: Class A asking rent ($/SF) Quarterly U.S. leasing activity (MM SF) U.S. office inventory (MM SF) Lease expirations by year Cousins portfolio occupancy vs. leased Cousins increase in 2nd generation cash net rent Net debt/EBITDA Cousins' net operating income Office REIT common dividend growth (2019 vs. current) Cousins' FAD payout ratio * Net asset value appreciation per Green Street
The presentation also provides insights into the company's current development pipeline in Austin and Nashville.
Overall, the presentation aims to showcase Cousins Properties' strategic focus on high-quality office assets and its performance in key financial and operational metrics.
The market has reacted to these announcements by moving the company's shares 0.2% to a price of $28.39. Check out the company's full 8-K submission here.
