Cousins Properties Inc (CUZ) is overvalued and Vornado Realty Trust (VNO) is overvalued.
Both trade above our estimate of their intrinsic value. CUZ is the closer of the two: -1374%, against -11839% for VNO.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.2% (average of 2 methods) values the shares at $1.96; the price of $28.90 is 1374% above that value, and 79% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
Discounting its cash flows at 8.1% values the shares at $0.30; the price of $35.28 is 11839% above that value, and 79% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
| Metric | CUZ | VNO |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $28.90 | $35.28 |
| Intrinsic value | $1.96 | $0.30 |
| Margin of safety | -1374% | -11839% |
| Leak Score | 0/100 (2/12) | 0/100 (3/12) |
| Market cap | $4.8B | $7.2B |
| Revenue growth, 5 years | 6.1% | 3.5% |
| Operating margin | 22.7% | 10.4% |
| Net margin | 0.6% | 0.3% |
| Return on equity | 0.1% | 1.1% |
| Debt to equity | 0.87 | 1.41 |
| P/E | 739.1x | 1422.6x |
| Forward P/E | 62.4x | — |
| P/B | 1.1x | 1.4x |
| Dividend yield | 4.5% | 2.4% |