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Cousins Properties Inc. (NYSE: CUZ) is a prominent real estate investment trust (REIT) based in Atlanta, GA. Founded in 1958, the company excels in the development, acquisition, financing, management, and leasing of high-quality real estate assets. With a diversified portfolio, Cousins Properties focuses prominently on Class A office buildings primarily located in high-growth Sun Belt markets.
Over its extensive history, Cousins has developed more than 20 million square feet of office space and an equal amount of retail space. The company’s real estate portfolio is mainly comprised of office and mixed-use developments, which include both apartments and retail spaces. Offices represent the majority of their square footage, contributing significantly to their revenue, which is primarily derived from rental income.
Cousins Properties is known for its innovative and sustainable developments and excellent management services. Their assets are concentrated in Texas and Georgia, with a smaller presence in North Carolina. The company's strategic investments aim to create and maintain value for shareholders, partners, and clients.
Recent updates include the release of their third quarter 2023 earnings and dividend declarations, emphasizing their ongoing financial health and commitment to shareholders. The company consistently updates its stakeholders through regular earnings conference calls and has made significant strides in maintaining and enhancing its portfolio’s value.
Cousins Properties operates through its fully integrated, self-administered, and self-managed structure, ensuring effective management of its business operations. With a strong emphasis on trophy assets and opportunistic investments, Cousins continues to grow and establish itself as a leader in the real estate sector.
Cousins Properties (NYSE: CUZ) declared a cash dividend of $0.32 per common share for Q2 2022. This dividend will be payable on July 15, 2022, to shareholders on record as of July 6, 2022. The company, based in Atlanta, GA, focuses on investing in Class A office buildings in high-growth Sun Belt markets. With a strategy centered on trophy assets and opportunistic investments, Cousins aims to create significant shareholder value.
Cousins Properties (NYSE: CUZ) has secured a new five-year, $1 billion unsecured credit facility, replacing its previous facility set to mature in January 2023. The updated facility maintains similar financial covenants and improves the borrowing spread by 5 to 15 basis points. The current spread is 90 basis points over adjusted SOFR. CEO Colin Connolly emphasized this facility enhances liquidity and financial flexibility, supporting their strategy in the Sun Belt trophy office market.
Cousins Properties (NYSE: CUZ) announced its first-quarter results for 2022, emphasizing its focus on high-growth Sun Belt markets for Class A office buildings. The company will hold a conference call on April 29, 2022, at 10:00 a.m. ET to discuss its earnings. Investors can access detailed financial reports, including the Earnings Release, Supplemental Information, and Form 10-Q, on the company’s website. As a self-administered and managed real estate investment trust (REIT), Cousins strives to enhance shareholder value through strategic investments and expert management.
Cousins Properties (NYSE:CUZ) will announce its first quarter 2022 earnings on April 28, 2022, following market close. A conference call is scheduled for April 29, 2022, at 10:00 a.m. ET, accessible at (877) 247-1056. A playback will be available shortly after the call until May 6, 2022, at (877) 344-7529, passcode 1847512. Financial details will be posted on the company's website after the earnings announcement.
Cousins Properties (NYSE: CUZ) has declared a cash dividend of $0.32 per common share for Q1 2022, marking a 3.2% increase from the previous quarter. This dividend will be payable on April 14, 2022, to shareholders on record as of April 5, 2022. The company specializes in high-quality real estate assets, primarily investing in Class A office buildings in growth areas of the Sun Belt. This strategic approach aims to create shareholder value through development and management expertise.
Cousins Properties (NYSE: CUZ) announced its fourth quarter and full year 2021 results on February 3, 2022. The company, known for investing in Class A office buildings in high-growth Sun Belt markets, encourages investors to visit its website for detailed earnings information, including the Earnings Release, Supplemental Information, and Form 10-K. A conference call is scheduled for February 4, 2022, at 10:00 a.m. Eastern Time to discuss these results. Investors can access a webcast of the call via the Investor Relations section of Cousins' website.
Cousins Properties (CUZ) released its year-end tax reporting information for 2021, detailing distribution classifications for common stock dividends. The total distributions per share totaled $1.23, with ordinary dividends of $1.23 and no capital gain distributions. Key record and paid dates include January 4, April 6, July 6, and October 5, 2021, with paid dates following shortly after each record date. Shareholders are advised to consult tax advisors for implications, as tax returns are pending. No material changes in taxable classifications are anticipated.
Cousins Properties (NYSE: CUZ) is set to release its fourth quarter 2021 earnings on February 3, 2022, after market close. A conference call will occur on February 4, 2022, at 10:00 a.m. ET, accessible via telephone at (877) 247-1056 or through a live webcast on the company's website. Playback of the call will be available from February 4, 2022, to February 11, 2022, at (877) 344-7529. Financial details will be posted on the investor relations page following the earnings announcement.
Cousins Properties (NYSE: CUZ) has announced two key strategic transactions in Downtown Austin on December 21, 2021. The company sold 816 Congress, a 435,000 square foot office building, for $174 million, currently 78% leased and set to drop to 60% leased in early 2023. Cousins also acquired the remaining 50% interest in 300 Colorado, a 369,000 square foot office building, for $162.5 million, currently 88% leased. The firm has invested over $1 billion in new developments and acquisitions while divesting $600 million in older assets, aiming to strengthen its portfolio.
Cousins Properties (NYSE: CUZ) announced two leases totaling 95,000 square feet at its 100 Mill office development in Downtown Tempe, achieving 80% pre-leased status before its 2022 delivery. Amazon expanded its lease by 63,000 square feet for its Phoenix Tech Hub, increasing its footprint to 158,000 square feet and creating 550 new jobs. LiveRamp signed a new 32,000 square foot lease for its entry into the Phoenix market, with plans for 100 new hires. The strong leasing activity reflects the appeal of Phoenix for growing technology companies.
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