Exhibit 12.1

COUSINS PROPERTIES INCORPORATED

RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OFEARNINGS TO COMBINED FIXED CHARGES AND

PREFERRED DIVIDENDS

	Nine
	Months
	Ended
	September 30,
	2016			2015			2014			2013			2012			2011
Earnings:
Income (loss) from continuing operations before equity in earnings from unconsolidated joint ventures	$	37,074		$	117,913		$	20,582		$	44,716		$	(11,653	)	$	(113,498	)
Fixed charges	25,445			34,306			31,900			22,262			25,587			28,490
Capitalized interest	(2,988		)	(3,579		)	(2,752		)	(518		)	(1,637		)	(600		)
Distributions of earnings from unconsolidated joint ventrues	5,893			8,760			10,296			67,101			37,379			8,865
Total earnings	$	65,424		$	157,400		$	60,026		$	133,561		$	49,676		$	(76,743	)
Fixed Charges and preferred stock dividends
Interest expense	$	22,457		$	30,723		$	29,110		$	21,709		$	23,933		$	27,784
Capitalized interest	2,988			3,579			2,752			518			1,637			600
Interest component of rental expense (30%)	—			4			38			35			17			106
Total fixed charges	25,445			34,306			31,900			22,262			25,587			28,490
Preferred stock dividends	—			—			2,955			10,008			12,907			12,907
Total fixed charges and preferred stock dividends	$	25,445		$	34,306		$	34,855		$	32,270		$	38,494		$	41,397
Ratio of earnings to fixed charges	2.6			4.6			1.9			6.0			1.9			—		*
Ratio of earnins to combined fixed charges and preferred stock dividends	2.6			4.6			1.7			4.1			1.3			—		*

*The ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends was less than one-to-one for the year ended December 31, 2011.  Additional earnings of $105.2 million and $118.1 million would have been needed to have a one-to-one ratio of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends, respectively.