Cousins Properties’s CUZ second-quarter 2022 funds from operations (FFO) per share of 70 cents beat the Zacks Consensus Estimate of 67 cents. The figure surpassed the prior-year quarter’s FFO per share by a cent.On a year-over-year basis, quarterly rental property revenues marginally increased from $181.8 million to $183.2 million. However, it missed the Zacks Consensus Estimate of $188.9 million.Results reflect a decline in occupancy level and leasing activity.Quarter in DetailCousins Properties executed leases for 588,000 square feet of office space in the June quarter, including 264,000 square feet of new and expansion leases. This marked 45% of total leasing activity.The same-property rental property revenues, on a cash basis, fell 1.6% year over year to $155.9 million. The same-property rental property operating expenses on a cash basis declined 4.1% year over year to $55.3 million in second-quarter 2022. The same-property NOI, on a cash basis, marginally decreased to $100.6 million from the prior-year period.The weighted average occupancy of the same-property portfolio was 86.9%, down from 91.4% as of Jun 30, 2021.CUZ ended the quarter with the same-property portfolio being leased 89.7%, down from 92.9% recorded at the end of the year-ago period.The second-generation net rent per square foot (cash basis) climbed 11.6%.During the second quarter, CUZ acquired 10% of its partner’s interest in 8000 Avalon and 10000 Avalon for $43.4 million. The purchase price was inclusive of a promote to its partner in excess of its partnership interest and reflected a negotiated fair value for the properties of $301.5 million.Balance SheetCUZ exited second-quarter 2022 with cash and cash equivalents of $4.1 million, down from $7 million as of Mar 31, 2022.The company’s net debt-to-annualized EBITDAre ratio in the quarter was 4.9 compared with 4.5 in the year-ago quarter. However, the figure declined from 5.3 witnessed as of Mar 31, 2022.During the quarter, it closed a new $1 billion unsecured revolving credit facility. This resulted in extending the maturity date for the same to Apr 30, 2027, and lowering certain variable interest rate spreads and other fees.Further, CUZ settled its outstanding forward contracts to sell 2.6 million shares of its common stock. The contracts were executed in the third and fourth quarters of 2021 at a gross average price of $39.92 per share.Revised 2022 OutlookCousins Properties revised its 2022 guidance.It expects 2022 FFO per share to lie in the range of $2.67-2.73, revised from the earlier guidance of $2.70-$2.78. The Zacks Consensus Estimate for the same is pegged at $2.72.CUZ 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 QuotePerformance of Notable REITsKimco Realty Corp.’s KIM second-quarter 2022 FFO per diluted share came in at 40 cents, surpassing the Zacks Consensus Estimate of 38 cents. The figure grew 17.6% from the year-ago quarter’s 34 cents.Results reflect year-over-year growth in the top line. The rise in occupancy levels and rental rate growth aided KIM’s performance. It raised 2022 FFO outlook.Boston Properties Inc.’s BXP second-quarter 2022 FFO per share of $1.94 beat the Zacks Consensus Estimate of $1.85. The figure also compared favorably with the year-ago quarter’s $1.72.BXP’s quarterly results reflect growth in the bottom line. Also, it experienced strong leasing activity during the quarter.AvalonBay Communities, Inc.’s AVB second-quarter 2022 core FFO per share of $2.43 surpassed the Zacks Consensus Estimate of $2.35. The figure increased 22.7% on a year-over-year basis.AVB’s second-quarter results reflect a year-over-year increase in same-store residential rental revenues driven by strong, effective lease rate growth and higher rent relief.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>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 AvalonBay Communities, Inc. (AVB): Free Stock Analysis Report Boston Properties, Inc. (BXP): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report Cousins Properties Incorporated (CUZ): Free Stock Analysis Report To read this article on Zacks.com click here.