2024-07-26 17:34:03 ET
Summary
- Although I am skeptical of office REITs, Alexandria Real Estate Equities Inc. and Cousins Properties Incorporated are clear exceptions.
- I have been long Cousins Properties since mid-2023, arguing that the REIT is mispriced and the fundamentals are much stronger than for any average office REIT out there.
- The recent Q2 earnings report confirms this.
- In this article, I elaborate on why I remain bullish on Cousins Properties Incorporated shares.
As many of my readers have probably noticed, I am quite skeptical of office REITs except for two players: Alexandria Real Estate Equities Inc. (ARE) and Cousins Properties Incorporated (CUZ). In my opinion, both of these REITs exhibit strong fundamentals, but at the same time they have been punished by the market together with the rest of the office segment. It is clear that the valuations should be lower than in the pre-pandemic period, when the monetary policy was extremely accommodative, yet, in my view, the discount has gone too deep, which, in turn, provides an opportunity for investors....
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For further details see:
Cousins Properties: The Recent Earnings Confirm That This Is A Different Office REIT