Cousins Properties: 4Q Earnings Snapshot

ATLANTA (AP) _ Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.

The Atlanta-based real estate investment trust said it had funds from operations of $100.6 million, or 68 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 69 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 $11.1 million, or 7 cents per share.

The real estate company posted revenue of $183.1 million in the period. Its adjusted revenue was $178.6 million.

For the year, the company reported funds from operations of $413.2 million, or $2.78 per share. Revenue was reported as $721.9 million.

Cousins Properties expects full-year funds from operations to be $2.76 to $2.86 per share.

The company's shares have climbed 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $34.20, a decline of 18% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUZ at https://www.zacks.com/ap/CUZ

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