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Cousins (CUZ) Inks Lease with Amgen at Corporate Center
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Cousins Properties Inc. (CUZ - Free Report) announced that Amgen, the Thousand Oaks, CA-based biopharmaceutical company, has inked a lease at Corporate Center, spanning 125,000 square feet. The 10-year lease with a leading biotechnology company in Tampa, FL is going to be accretive to the Atlanta, GA-based real estate investment trust (REIT).
Cousins Properties is engaged in the acquisition, ownership, development and management of upscale office and mixed-use properties throughout the Sunbelt markets of the U.S., with special focus on Georgia, Texas and North Carolina. Situated in the Westshore submarket of Tampa, Corporate Center is a 1,224,000 square feet Class A office asset.
The leased area will be home to a new Amgen Capability Center and employ 450 people. This center will serve the role of delivering business-enabling services including operational, analytical, staff support and business support activities.
Currently, Cousins Properties carries a Zacks Rank #3 (Hold).
Shares of Cousins Properties underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company lost 3.4%, whereas the industry declined 1.7%.
In the last 30 days, Arbor Realty Trust’s FFO per share for first-quarter 2017 escalated 11.8% to 19 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
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Cousins (CUZ) Inks Lease with Amgen at Corporate Center
Cousins Properties Inc. (CUZ - Free Report) announced that Amgen, the Thousand Oaks, CA-based biopharmaceutical company, has inked a lease at Corporate Center, spanning 125,000 square feet. The 10-year lease with a leading biotechnology company in Tampa, FL is going to be accretive to the Atlanta, GA-based real estate investment trust (REIT).
Cousins Properties is engaged in the acquisition, ownership, development and management of upscale office and mixed-use properties throughout the Sunbelt markets of the U.S., with special focus on Georgia, Texas and North Carolina. Situated in the Westshore submarket of Tampa, Corporate Center is a 1,224,000 square feet Class A office asset.
The leased area will be home to a new Amgen Capability Center and employ 450 people. This center will serve the role of delivering business-enabling services including operational, analytical, staff support and business support activities.
Currently, Cousins Properties carries a Zacks Rank #3 (Hold).
Shares of Cousins Properties underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company lost 3.4%, whereas the industry declined 1.7%.
Investors interested in the REIT space may consider stocks like Arbor Realty Trust, Inc. (ABR - Free Report) , CoreSite Realty Corporation (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. . Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Arbor Realty Trust’s FFO per share for first-quarter 2017 escalated 11.8% to 19 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>