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Cousins Properties Incorporated (CUZ - Free Report) , the Atlanta, GA-based real estate investment trust (“REIT”) has released update on 2016 year-end activity. Also, the company provided 2017 funds from operations (“FFO”) guidance.
Cousins Properties closed several major transactions during fourth-quarter 2016. The company acquired equity interest in Teachers Retirement Systems in Fund II for $279 million. Regarding disposition, the company sold Lincoln Place, a 140,000 square-foot office building in Miami, for $80 million. Also, it sold The Forum, a 220,000 square-foot office building in Atlanta, for $70 million.
Taking into consideration the current and future market conditions, the company expects 2017 FFO to be in the range of 56 cents to 62 cents per share. The 2017 FFO guidance is based on same property net operating income growth of 2–4% on a GAAP basis, and fee and other income other income of $9-$11 million. Also, the company expects 2017 acquisition activity of $19.6 million and disposition activity to be in the range of $450–$550 million.
Shares of Cousins Properties outperformed the Zacks categorized REIT and Equity Trust - Other industry, over the past one year. During the same time span, shares of the company grew 19%, whereas the industry gained 8.8%.
Cousins Properties currently carries a Zacks Rank # 3 (Hold).
AGNC Investment’s 2016 estimates have moved up 2.6% to $2.36 per share, over the past 60 days.
Seritage Growths’ 2016 estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
Brandywine Realty’s 2016 estimates have remained unchanged at $1.29 per share over the 60 days.
Zacks’ Top 10 Stocks for 2017
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Who wouldn’t? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Cousins (CUZ) Releases Q4 Update; Provides 2017 Guidance
Cousins Properties Incorporated (CUZ - Free Report) , the Atlanta, GA-based real estate investment trust (“REIT”) has released update on 2016 year-end activity. Also, the company provided 2017 funds from operations (“FFO”) guidance.
Cousins Properties closed several major transactions during fourth-quarter 2016. The company acquired equity interest in Teachers Retirement Systems in Fund II for $279 million. Regarding disposition, the company sold Lincoln Place, a 140,000 square-foot office building in Miami, for $80 million. Also, it sold The Forum, a 220,000 square-foot office building in Atlanta, for $70 million.
Taking into consideration the current and future market conditions, the company expects 2017 FFO to be in the range of 56 cents to 62 cents per share. The 2017 FFO guidance is based on same property net operating income growth of 2–4% on a GAAP basis, and fee and other income other income of $9-$11 million. Also, the company expects 2017 acquisition activity of $19.6 million and disposition activity to be in the range of $450–$550 million.
Shares of Cousins Properties outperformed the Zacks categorized REIT and Equity Trust - Other industry, over the past one year. During the same time span, shares of the company grew 19%, whereas the industry gained 8.8%.
Cousins Properties currently carries a Zacks Rank # 3 (Hold).
Some better-ranked stocks in the real estate space include AGNC Investment Corp. (AGNC - Free Report) , Seritage Growth Properties (SRG - Free Report) and Brandywine Realty Trust (BDN - Free Report) . All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
AGNC Investment’s 2016 estimates have moved up 2.6% to $2.36 per share, over the past 60 days.
Seritage Growths’ 2016 estimates have moved up 0.9% to $2.34 per share, over the past 60 days.
Brandywine Realty’s 2016 estimates have remained unchanged at $1.29 per share over the 60 days.
Zacks’ Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn’t? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>