ATLANTA (AP) _ Cousins Properties Inc. (CUZ) on Thursday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.
The Atlanta-based real estate investment trust said it had funds from operations of $98 million, or 66 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 66 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 $23.1 million, or 16 cents per share.
The real estate company posted revenue of $179.9 million in the period. Its adjusted revenue was $175.1 million.
The company's shares have declined 26% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $30.49, a decrease of 14% in the last 12 months.