Cousins Properties Incorporated

AI-generated fair value estimate for this company.

Method: 10-year equity (AFFO) discount model: ~$389.9M estimated AFFO base (FFO of ~$459M backed into from a 10.29x current price/FFO multiple, less ~15% for recurring leasing costs/capex typical of office REITs); 3% AFFO growth years 1-5; 2.5% years 6-10; 9% discount rate; 2.5% terminal growth; 164.60M shares outstanding.

Reasoning: Cousins Properties is a Sunbelt-focused Class A office REIT; office assets carry higher structural risk than other property types post-pandemic, which is reflected in the discount rate, but Cousins' high-quality, well-located portfolio supports using AFFO directly as the levered cash flow base.