Cousins Properties Inc. (CUZ) Wednesday said third-quarter net income available to common stockholders plunged to $19.32 million from $59.38 million in the prior year. Earnings per share were $0.09, compared to $0.36 last year.
Funds From Operations was $0.20 per share, while it totaled $0.11 per share in the prior-year period. On average, 8 analysts polled by Thomson Reuters expected earnings per hare of $0.19 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved to $89.1 million from last year's $50.43 million. Analysts expected revenues of $82.14 million.
"We continue to string together very solid quarters, driven by continued progress with the implementation of our strategic plan combined with improving office fundamentals in our Sunbelt markets," said Larry Gellerstedt, President and CEO of Cousins.
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