Cousins Properties launches public inventory providing

ATLANTA – Cousins Properties Included (NYSE: NYSE:CUZ), an Atlanta-based actual property funding belief (REIT) with a market capitalization of $4.75 billion, has initiated an underwritten public providing of 9.5 million shares of its widespread inventory, the corporate introduced immediately. The proceeds from the providing are earmarked for a portion of the acquisition value for an workplace property in Downtown Austin. If the acquisition doesn’t proceed, Cousins Properties plans to allocate the funds for normal company functions, which can embody workplace property acquisitions and improvement, different investments, and debt compensation. Based on InvestingPro knowledge, the inventory is at the moment buying and selling above its Honest Worth after surging 39% over the previous six months.

The only book-running supervisor for the transaction is J.P. Morgan. The providing is being made below a prospectus complement and the associated prospectus, a part of the corporate’s shelf registration assertion filed on Might 8, 2024.

Cousins Properties, based in 1958, focuses on investing in Class A workplace buildings within the Solar Belt’s high-growth markets. The corporate prides itself on creating shareholder worth by way of the event, acquisition, leasing, and administration of high quality actual property property. With a present dividend yield of 4.13%, InvestingPro evaluation reveals the corporate has maintained dividend funds for 45 consecutive years, demonstrating sturdy dedication to shareholder returns. For deeper insights into CUZ’s monetary well being and development prospects, buyers can entry the excellent Professional Analysis Report, obtainable solely on InvestingPro.

Traders can entry extra detailed details about Cousins Properties and this public providing by studying the prospectus complement and different paperwork filed with the Securities and Trade Fee, which can be found totally free on the SEC’s EDGAR web site.

The press launch accommodates forward-looking statements, which contain dangers and uncertainties, and there’s no assure that the outcomes will align with the projections. The corporate’s monetary statements and the chance elements outlined in its annual and quarterly studies filed with the SEC present additional context for these statements.

This announcement of the general public providing relies on a press launch assertion from Cousins Properties.

In different current information, Cousins Properties is ready to accumulate Austin’s Sail Tower for $521.8 million, additional increasing its workplace portfolio. The corporate additionally introduced a public providing of 6 million shares, aiming to boost roughly $188 million. This transfer is overseen by Financial institution of America Securities and is a part of Cousins Properties’ technique to create shareholder worth. As well as, Cousins Properties just lately acquired Vantage South Finish, an workplace property in Charlotte, for $328.5 million.

The corporate reported sturdy third-quarter outcomes, with Funds From Operations (FFO) reaching $0.67 per share and a 4.4% enhance in same-property web working revenue. This efficiency led to an improve within the firm’s 2024 FFO steering to between $2.66 and $2.70 per share. Analyst agency Baird upgraded its value goal for Cousins Properties from $31.00 to $33.00, sustaining an Outperform ranking, whereas BMO Capital moved its ranking to ‘Market Carry out’ following a powerful efficiency in 2024.

These current developments replicate Cousins Properties’ continued development and strategic positioning in its goal markets. The corporate’s dedication to enhancing its portfolio with prime properties in sought-after areas, coupled with its sturdy monetary efficiency, underscores its potential for future success.

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