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Cousins Properties Incorporated (CUZ) Fair Value & Analysis

Real Estate · US · Market cap $4.7B

CP Cousins Properties Incorporated logo Cousins Properties Incorporated CUZ · US
Price$29.62
Fair Value$17.62
Upside-40.5%
Quality34/100
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Expensive Growth
Loss-making · -0.5% net margin
Moderate debt · generates free cash flow
4.62% dividend yield
Trails peers (4/14)
Narrow moat 29/100
Evidence: High Range $11.86 – $17.62 Share as image

Fair value as of: Jul 26, 2026

From 16 valuation models · updated 15 days ago

Share price −1.3% over the past month.

Below-average quality, and screening another 41% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($17.62). The favourable scenario is already priced in.
  • Weak quality (34/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$34.09 $15.58 Fair Value $17.62 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $15.58 – $34.09 · fair‑value band $11.86 – $17.62 · the $29.62 price screens above the $17.62 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

Cousins Properties Incorporated (CUZ) currently trades at $29.62, while our model-based Fair Value estimate is $17.62, implying the stock looks roughly 40.5% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Cousins Properties Incorporated generated revenue of $998M at a net margin of -0.5%. Revenue grew 4.8% year over year. It earns a return on equity of -0.1%. Net debt stands at $3.7B. Fundamentals as of Jul 26, 2026

Our scenario range runs from $11.86 (bear case) to $17.62 (bull case); at $29.62, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -20% fair-value upside, at -41%, CUZ screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $4.83 80
Residual Income $19.18 $17.95 $12.66 76
Rev-Margin DCF $9.17 74
All 16 models by family
DCF Models
FCF DCF $6.20 38
5Y Revenue Exit $10.41 39
5Y EBITDA Exit $12.52 $42.30 $79.32 41
10Y Revenue Exit $8.55 36
10Y EBITDA Exit $4.05 $27.64 $63.10 37
Dividend Discount
Gordon GGM $11.52 $22.95 $34.76 70
DDM Multi-Stage $11.52 $19.84 $24.23 61
Multiples
P/S Multiple $3.14 $4.18 $5.23 58
P/B Multiple $3.14 $4.18 $5.23 55
EV/EBIT $2.09 $9.54 $17.00 53
EV/EBITDA $29.19 $45.68 $62.17 54
EV/Revenue $2.63 43
Asset-Based
NCAV (Graham) $14.22 $19.06 $28.44 50
Growth DCF
Growth DCF $4.83 80
Rev-Margin DCF $9.17 74
Economic Profit
Residual Income $19.18 $17.95 $12.66 76

Widest divergence: DCF Models ($27.64) versus Multiples ($4.18). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $998M
Revenue growth (YoY) +4.8%
Net margin -0.5%
Return on equity -0.1%
Free cash flow $135M FY2025
Operating margin 22.1%
More key figures
EPS (TTM) $-0.0300
Dividend yield 4.6%
EPS growth (YoY) -30.5%
Net debt $3.7B FY2025

Figures from reported company fundamentals · as of Jul 26, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 38 · Market factors (momentum, volatility) 64

Profitability 14
Margins and returns on capital today
Quality Growth 35
Are margins and returns improving?
Cashflow 66
Earnings quality: real cash, not paper profit
Fin. Strength 36
Balance sheet, leverage, solvency risk
Investment 57
Disciplined investing over empire-building
Low Volatility 60
Calm price path (market factor)
Momentum 61
Price trend over the last 3–12 months (market factor)
52W Momentum 74
Distance to the 52-week high (market factor)
Net Issuance 21
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust. The Company acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high growth Sun Belt markets.

Full company description

Cousins Properties Incorporated is a fully integrated, self-administered and self-managed real estate investment trust. The Company acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high growth Sun Belt markets. Cousins creates shareholder value through its extensive expertise in the development, acquisition, leasing, and management of high-quality real estate assets. The Company has a comprehensive strategy in place based on a simple platform, trophy assets, and opportunistic investments. Cousins Properties Incorporated was founded in 1958 and is based in Georgia, Atlanta.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Cousins Properties Incorporated reported revenue of $994M in FY2025 versus $755M in FY2021, a compound +7.1%/yr. Reported net income was $40.5M in FY2025, compounding −38.3%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$994M
Latest YoY
+16.0%
Avg. growth/yr (3Y)
+9.2%
Avg. growth/yr (5Y)
+6.1%
Avg. growth/yr (40Y)
+8.3%
Revenue +7.1%/yr
FY21 $755M
FY22 $762M
FY23 $803M
FY24 $857M
FY25 $994M
Net income −38.3%/yr
FY21 $279M
FY22 $167M
FY23 $83.0M
FY24 $46.0M
FY25 $40.5M

CUZ screens 41% overvalued. Compare with MERLIN Properties SOCIMI, S.A →

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Cite: Fair Value Calculator (2026). "Cousins Properties Incorporated Fair Value". https://www.fairvalue-calculator.com/stock/CUZ

Peer Group

REIT - Office · 75 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 36 · Bottom 25%
Fair Value upside −41% · Bottom 25%
Return on assets 2% · Below median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 22% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 4.6% · Below median
Debt / equity 0.71× · Lower than median

Valuation Multiples vs REIT - Office median · lower = cheaper

P/B 0.99× · Pricier than median
P/S (TTM) 4.67× · Pricier than median
P/FCF 34.5× · Pricier than 75% of peers
EV/EBITDA 12.5× · Cheaper than median
PEG 1.31× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 33
FUTURE 24 · sector 0
PAST 0 · sector 5
HEALTH 64 · sector 64
DIVIDEND 92 · sector 100

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more REIT - Office stocks, each showing price versus our Fair Value estimate (as of Jul 26, 2026).

Stock Price Fair Value vs Fair Value
MERLIN Properties SOCIMI, S.A MRL €15.23 €6.46 -58%
BXP, Inc BXP $69.11 $53.27 -23%
Vornado Realty Trust VNORP $51.75 $41.59 -20%
Alexandria Real Estate Equities, Inc ARE $50.12 $59.48 +19%
Hudson Pacific Properties, Inc HPP $15.38 $4.60 -70%
Mapletree Pan Asia Commercial Trust N2IU 1.28 SGD 1.14 SGD -11%
Kilroy Realty Corporation KRC $39.42 $40.37 +2%
Keppel DC REIT AJBU 2.20 SGD 1.68 SGD -24%
DEXUS DXS A$5.64 A$4.49 -20%
COPT Defense Properties, an S&P MidCap 400 Company CDP $38.03 $22.84 -40%

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Frequently asked questions

Is Cousins Properties Incorporated (CUZ) overvalued or undervalued?
As of Jul 26, 2026, our model estimates a fair value of $17.62 versus a price of $29.62, about −41% (overvalued).
What is the fair value of CUZ?
Our model-based fair value for Cousins Properties Incorporated is $17.62 (as of Jul 26, 2026), built from audited fundamentals. The current price is $29.62.
What is the quality score of CUZ?
Cousins Properties Incorporated has a Quality Score of 34/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Cousins Properties Incorporated (CUZ)?
Cousins Properties Incorporated reported trailing-twelve-month revenue of about $998M (latest available figure, as of Jul 26, 2026).
What is the net profit margin of CUZ?
The net profit margin of Cousins Properties Incorporated is about -0.5%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Cousins Properties Incorporated pay a dividend?
Cousins Properties Incorporated currently shows a dividend yield of about 4.62% relative to its recent price (as of Jul 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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