Cousins Properties Incorporated (CUZ - Free Report) , the Atlanta, GA-based real estate investment trust (“REIT”) and Hines, the Houston, TX-based real estate firm announced that the global technology major – Microsoft Corp.– has inked a lease deal at 8000 Avalon. The 43,000 square-foot lease transaction signed at the 224,000 square foot Class A office development in Atlanta, GA, with Microsoft anchoring the office development, is likely to be accretive for Cousins Properties, going forward.
Notably, Cousins Properties and Hines signed a joint venture deal to develop the $72 million Class A office project which is presently under construction. Microsoft is expected to take the initial occupancy in second-quarter 2017. With this lease deal, 8000 Avalon is currently 19% leased.
Past Performance
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. Last month, the company reported first-quarter 2016 funds from operation (“FFO”) of 21 cents per share that missed the Zacks Consensus Estimate by a penny but remained flat year over year. Results reflected a decline in rental property revenues.
Zacks Rank & Stocks to Consider
The stock presently has a Zacks Rank #3 (Hold).
However, investors interested in the REIT sector can consider stocks like Brookfield Canada Office Properties , Summit Hotel Properties, Inc. (INN - Free Report) and W. P. Carey Inc. (WPC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Cousins Properties Incorporated (CUZ - Free Report) , the Atlanta, GA-based real estate investment trust (“REIT”) and Hines, the Houston, TX-based real estate firm announced that the global technology major – Microsoft Corp.– has inked a lease deal at 8000 Avalon. The 43,000 square-foot lease transaction signed at the 224,000 square foot Class A office development in Atlanta, GA, with Microsoft anchoring the office development, is likely to be accretive for Cousins Properties, going forward.
Notably, Cousins Properties and Hines signed a joint venture deal to develop the $72 million Class A office project which is presently under construction. Microsoft is expected to take the initial occupancy in second-quarter 2017. With this lease deal, 8000 Avalon is currently 19% leased.
Past Performance
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. Last month, the company reported first-quarter 2016 funds from operation (“FFO”) of 21 cents per share that missed the Zacks Consensus Estimate by a penny but remained flat year over year. Results reflected a decline in rental property revenues.
Zacks Rank & Stocks to Consider
The stock presently has a Zacks Rank #3 (Hold).
However, investors interested in the REIT sector can consider stocks like Brookfield Canada Office Properties , Summit Hotel Properties, Inc. (INN - Free Report) and W. P. Carey Inc. (WPC - Free Report) . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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