CUZ - Cousins Properties: It Is Still An Undervalued Gem After Q4 Data
2024-02-09 16:31:16 ET
Summary
- I have recommended buying Cousins Properties since mid-2023 due to its trophy properties, fortress balance sheet, and favorable growth profile.
- Since the publication of my initial buy thesis, the stock has outperformed the index and some of the best-in-class office players.
- Now, Cousins has circulated its Q4'23 earnings report, which revealed positive dynamics that further support my thesis.
- In this article, I outline the key reasons why I think that Cousins is a solid pick at a P/FFO of 8.5x.
Cousins Properties Incorporated ( CUZ ) has been my high-conviction office real estate pick since April 13, 2023, when I wrote an article recommending a buy despite massive challenges at the sector level....
Cousins Properties: It Is Still An Undervalued Gem After Q4 Data