CUZ vs ESRT vs ARE Stock Comparison

Cousins Properties, Empire State Realty Trust and Alexandria Real Estate Equities Prices as of Oct 26, 2026 Peers: Industry group
CUZ Cousins Properties Inc
$29.18 +1.8% 1M +9.7% 1Y
Market cap
$4.75B
P/E
739.6x
Revenue (TTM)
$1.03B
Div. yield
0.05%
Office REITs Real Estate
5 wins

Head to Head

11 decided of 12

Cousins Properties leads on 5 of the 12 questions below (Cousins Properties 5, Alexandria Real Estate Equities 4, Empire State Realty Trust 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionCUZESRTARELeader
Larger companyMarket capitalisation $4.75B $861.18M $6.96B ARE
Cheaper on earningsLower P/E, profitable companies only 739.6x 280.2x -4.8x ESRT
Cheaper on forward earningsLower price / next fiscal year consensus EPS 139.0x — 27.8x ARE
Faster revenue growthRevenue growth, trailing twelve months +11.9% +2.0% -9.9% CUZ
More profitableNet margin, trailing twelve months 0.6% 0.4% -52.0% CUZ
Better return on capitalReturn on invested capital — -1.1% — –
Less leveragedLower net debt / EBITDA 34.6x 5.0x — ESRT
Higher dividend yieldTrailing dividend yield 0.05% 0.03% 0.09% ARE
Better 1-year returnPrice return, last 12 months +9.7% -36.6% -44.0% CUZ
Better 5-year returnAnnualised price return, 5 years -5.8%/yr -13.7%/yr -26.8%/yr CUZ
Less volatileAnnualised volatility, 1 year 27.1% 36.7% 50.0% CUZ
Higher overall scoreMean of the five percentile scores vs peers 28/100 35/100 39/100 ARE

Percentile Scorecard

CUZESRTARE

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisCUZESRTARE
Valuation 26 #108 of 145 76 #35 of 145 73 #40 of 145
Growth 29 #101 of 142 1 #140 of 142 7 #132 of 142
Profitability 30 #96 of 136 25 #102 of 136 14 #117 of 136
Financial Health 38 #87 of 139 60 #56 of 139 74 #37 of 139
Shareholder Returns 19 #106 of 131 12 #115 of 131 29 #94 of 131
Overall 28 35 39
  • CUZ ranked among 149 companies in Property REITs
  • ESRT ranked among 149 companies in Property REITs
  • ARE ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodCUZESRTARESPY
1 month +1.8%+22.9%-13.1% -0.8%
3 months -9.0%-10.5%-15.6% +3.5%
6 months +16.3%-11.2%-4.8% +7.0%
Year to date +13.2%-22.5%-11.4% +12.2%
1 year +9.7%-36.6%-44.0% +13.0%
3 years +63.2%-37.0%-52.7% +86.3%
3 years, per year +17.7%-14.3%-22.1% +23.1%
5 years -25.8%-52.0%-78.9% +68.6%
5 years, per year -5.8%-13.7%-26.8% +11.0%
10 years -5.1%-74.4%-59.1% +258.0%
10 years, per year -0.5%-12.7%-8.6% +13.6%

Risk

MeasureCUZESRTARESPY
Volatility, 1Y 27.1%36.7%50.0% 12.7%
Downside volatility, 1Y 28.9%42.0%56.4% 12.7%
Beta vs S&P 500, 1Y 0.590.320.75 1.00
Return / volatility, 1Y 0.36-1.00-0.88 1.02
Max drawdown, 5Y -58.2%-65.6%-81.9% -25.4%
From 52-week high -9.7%-36.6%-44.3% -1.8%
52-week high $32.30$7.96$77.87 $779.14
52-week low $21.34$3.93$40.41 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleCUZESRTARE
P/E now vs peer median 747.4xmedian 27.4x 281.1xmedian 27.4x -5.2xmedian 27.4x
P/S now vs peer median 4.6xmedian 4.2x 1.1xmedian 4.2x 2.7xmedian 4.2x
EV/EBITDA now vs peer median 79.1xmedian 14.2x 10.0xmedian 14.2x —median 14.2x
P/FCF now vs peer median -13.0xmedian 23.2x -2.0xmedian 23.2x -16.0xmedian 23.2x
P/B now vs peer median 1.1xmedian 1.3x 0.5xmedian 1.3x 0.4xmedian 1.3x
PEG now vs peer median -11.34median 2.11 -4.70median 2.11 0.05median 2.11

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsCUZESRTARE
Revenue $1.03B $784.18M $2.76B
Gross profit $704.58M – –
Operating income -$322.93M -$34.52M –
Net income $6.88M $9.26M -$1.39B
Free cash flow -$369.91M -$437.31M -$473.23M
EPS (diluted) $0.04 $0.01 $-8.40
Cash & equivalents $6.70M $85.61M $508.86M
Total debt $3.73B $4.54B $12.90B
Shares (diluted) 165.29M 268.95M 170.75M
Enterprise value $4.73B $419.99M -$633.23M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricCUZESRTARE
P/E 747.4x 281.1x -5.2x
P/FCF -13.0x -2.0x -16.0x
P/Operating cash flow 11.1x 3.8x 6.4x
P/S 4.6x 1.1x 2.7x
P/B 1.1x 0.5x 0.4x
P/Tangible book 1.1x 0.5x 0.4x
EV/EBITDA 79.1x 10.0x –
EV/EBIT -26.4x -50.3x –
EV/Revenue 8.2x 2.2x 6.6x
EV/FCF -23.1x -4.0x -38.7x
EV/Operating cash flow 19.7x 7.6x 15.4x
PEG (3Y EPS CAGR) -11.34 -4.70 0.05

Growth

14 metrics
MetricCUZESRTARE
Revenue growth (1Y) 11.9% 2.0% -9.9%
Revenue CAGR (3Y) 9.1% 2.9% -0.5%
Gross profit growth (1Y) 11.0% – –
Gross profit CAGR (3Y) 10.2% – –
Operating income growth (1Y) -45.3% -123.1% –
Operating income CAGR (3Y) -21.9% -31.0% –
Net income growth (1Y) -88.7% -86.5% -339.2%
Net income CAGR (3Y) -64.2% -51.3% -74.6%
EPS growth (1Y) -89.1% -92.4% -239.7%
EPS CAGR (3Y) -65.9% -59.8% -100.7%
Operating cash flow growth (1Y) 4.4% -13.3% -13.7%
Operating cash flow CAGR (3Y) 5.4% -0.8% -9.5%
Free cash flow growth (1Y) 47.5% -169.4% 33.5%
Free cash flow CAGR (3Y) -98.0% -149.9% 43.5%

Profitability

14 metrics
MetricCUZESRTARE
Gross margin 68.1% – –
EBITDA margin 10.4% 22.1% –
Operating margin -31.2% -4.4% –
Pretax margin -48.2% 1.3% –
Net margin 0.6% 0.4% -52.0%
FCF margin -35.7% -55.8% -17.1%
Operating cash flow margin 41.7% 29.0% 43.0%
Return on equity 0.2% 0.5% -6.6%
Return on assets 0.1% 0.2% -3.6%
Return on invested capital – -1.1% –
Return on capital employed – – –
Asset turnover 0.1x 0.2x 0.1x
Cash conversion (OCF / net income) 62.8x 24.6x -0.9x
Stock comp / revenue 1.6% 3.9% 1.5%

Financial Health

11 metrics
MetricCUZESRTARE
Debt / assets 41.3% 22.4% 37.9%
Debt / equity 0.8x 0.5x 0.7x
Net debt / EBITDA 34.6x 5.0x –
Debt / FCF -10.1x -2.2x -27.3x
Liabilities / assets 50.3% 58.1% 45.9%
Equity / assets 49.7% 41.9% 54.1%
Interest coverage -1.8x -0.3x –
Current ratio – – –
Quick ratio – – –
Cash ratio – – –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricCUZESRTARE
Dividend yield 4.4% 3.1% 6.6%
Net buyback yield – – –
Shareholder yield 4.4% 3.1% 6.6%
Payout ratio (earnings) 3,132% 259.1% -43.0%
Payout ratio (FCF) -58.2% -5.5% -126.5%
Dividend growth (1Y) 4.8% 2.2% -34.4%
Dividend CAGR (3Y) 3.2% 1.9% -10.2%

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusCUZESRTARE
Forward P/E 139.0xFY2026 – 27.8xFY2026
EPS, next fiscal year $0.21FY2026 $-0.35FY2027 $1.56FY2026
EPS growth, next FY -12.5%FY2026 -240.0%FY2027 –
EPS growth, the year after +128.6% – -150.6%
Revenue, next fiscal year $1.04BFY2026 $758.24MFY2026 $2.71BFY2026
Revenue growth, next FY +5.6%FY2026 -1.3%FY2026 -8.2%FY2026
Revenue growth, the year after +10.4% +4.5% -13.7%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersCUZESRTARE
Held by institutions 100.0% 83.1% 97.2%
Institutions holding 393 228 595
Change in shares held, QoQ +0.6% +0.4% +14.1%
Institutions buying 200 141 336
Institutions selling 139 51 191
Buyers to sellers 1.44 2.76 1.76

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

CUZESRTARE
CUZ 1.00 0.48 0.55
ESRT 0.48 1.00 0.34
ARE 0.55 0.34 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, CUZ, ESRT and ARE?

Alexandria Real Estate Equities (ARE) is the largest by market capitalisation: Cousins Properties (CUZ) $4.75B, Empire State Realty Trust (ESRT) $861.18M, Alexandria Real Estate Equities (ARE) $6.96B.

Which stock is cheaper, CUZ, ESRT and ARE?

Empire State Realty Trust (ESRT) trades on the lowest price-to-earnings ratio (Cousins Properties (CUZ) 739.6x, Empire State Realty Trust (ESRT) 280.2x, Alexandria Real Estate Equities (ARE) -4.8x). On next year's consensus earnings, Alexandria Real Estate Equities (ARE) is cheapest (Cousins Properties (CUZ) 139.0x, Alexandria Real Estate Equities (ARE) 27.8x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Cousins Properties (CUZ) grew revenue fastest over the trailing twelve months: Cousins Properties (CUZ) +11.9%, Empire State Realty Trust (ESRT) +2.0%, Alexandria Real Estate Equities (ARE) -9.9%.

Which company is more profitable?

Cousins Properties (CUZ) has the highest net margin (Cousins Properties (CUZ) 0.6%, Empire State Realty Trust (ESRT) 0.4%, Alexandria Real Estate Equities (ARE) -52.0%).

Which stock has performed better?

Over the past year Cousins Properties (CUZ) returned the most: Cousins Properties (CUZ) +9.7%, Empire State Realty Trust (ESRT) -36.6%, Alexandria Real Estate Equities (ARE) -44.0%. Over five years, Cousins Properties (CUZ) compounded fastest (Cousins Properties (CUZ) -5.8%/yr, Empire State Realty Trust (ESRT) -13.7%/yr, Alexandria Real Estate Equities (ARE) -26.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Alexandria Real Estate Equities (ARE) has the highest dividend yield: Cousins Properties (CUZ) 0.05%, Empire State Realty Trust (ESRT) 0.03%, Alexandria Real Estate Equities (ARE) 0.09%.

Which stock is riskier?

By one-year price volatility, Cousins Properties (CUZ) has been the steadiest (Cousins Properties (CUZ) 27.1%, Empire State Realty Trust (ESRT) 36.7%, Alexandria Real Estate Equities (ARE) 50.0%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, CUZ, ESRT and ARE?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Cousins Properties (CUZ) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.