Cousins Properties Incorporated CUZ reported first-quarter 2020 funds from operations (FFO) per share of 76 cents, surpassing the Zacks Consensus Estimate of 70 cents. However, the figure came in lower than the prior-year quarter’s 79 cents.Rental property revenues for the quarter came in at $189.1 million, marking a 52.6% jump, year on year. The figure also outpaced the Zacks Consensus Estimate of $188.3 million.Quarterly results reflect growth in rental property revenues and decline in general and administrative expenses. However, rise in rental-property operating expenses played spoilsport.However, the company has withdrawn its outlook for the current year in light of the coronavirus pandemic.Quarter in DetailCousins Properties executed leases for 475,783 square feet of office space during the March-end quarter. Same-property Net Operating Income (NOI), on a cash basis, increased 11.4% from the year-ago quarter. Moreover, second-generation net rent per square foot (cash basis) climbed 14.3%.Weighted average occupancy for the company’s same-property portfolio of 91.4% for the quarter ended Mar 31, 2020, expanded 30 basis points from the prior quarter.Cousins Properties exited the first quarter with cash and cash equivalents of $124.6 million compared with the $15.6 million recorded as of Dec 31, 2019. The company has $1.1 billion of available liquidity.Portfolio ActivityDuring the first quarter, the company sold Hearst Tower office property in Charlotte, spanning an area of 966,000 square feet, for $455.5 million, making a gain of $90.9 million.Cousins Properties also sold its interest in the Gateway Village joint venture to its partner for $52.2 million. The company made a gain of $44.9 million from the transaction.Further, the company begun development of 100 Mill, a 287,000-square-foot office building in Phoenix, with a total expected project cost of $153 million. The project has a pre-leasing of 44%.2020 OutlookThe company withdrew its 2020 FFO per share outlook in light of the uncertainties related to the coronavirus pandemic. Cousins Properties had earlier guided its 2020 FFO per share in the range of $2.72-$2.86.The company anticipates that the closure of all remaining speculative leasing commencements might reduce the NOI by $1.5 million. In addition, a fall in revenues from parking activities is expected to hit the NOI by $3.5-$9.5 million. Further, rent deferrals might dent the NOI by $1-$3 million.The company, however, expects a fall in general and administrative and interest expenses, along with a rise in fees and other income, due to a termination fee received of about $2 million, for the remainder of the year.Cousins Properties currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Cousins Properties Incorporated Price, Consensus and EPS Surprise Cousins Properties Incorporated price-consensus-eps-surprise-chart | Cousins Properties Incorporated QuoteWe, now, look forward to the earnings releases of other REITs, Omega Healthcare Investors, Inc. OHI, Vornado Realty Trust VNO and Realty Income Corporation O. All three companies are scheduled to release their quarterly numbers on May 4.Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vornado Realty Trust (VNO): Free Stock Analysis Report Cousins Properties Incorporated (CUZ): Free Stock Analysis Report Omega Healthcare Investors, Inc. (OHI): Free Stock Analysis Report Realty Income Corporation (O): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research