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Cousins Properties (CUZ) Signs Office Lease at Terminus 100
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Cousins Properties (CUZ - Free Report) recently announced that it has signed a new lease with WeWork Companies for office space at Terminus 100 in the Buckhead submarket of Atlanta. The companies have agreed on tenancy for 48,000 square feet of prime office accommodation for a 14-year period.
Per a What Now Atlanta article, with this lease, WeWork is set to open its fourth co-working space in Atlanta and second in the Buckhead district. The lease will enable this co-working giant to accommodate around 840 members with private offices, including rooms for 36 members. The space will also offer conference rooms and space for events. Amid the rising popularity of co-working concept, WeWork has expanded its footprint Atlanta to address its growth requirements.
Terminus 100 is a 27-storey premium office tower, spread across 660,000 square feet of space. It is situated at the intersection of Peachtree and Piedmont. Notably, the hub is a suitable choice for the company as it is well located in one of the largest urban mixed-use development area in the nation.
The composition of Terminus, with high-end restaurants, retail outlet as well as residential facilities, has enabled Cousin Properties to attract top office tenants for this property. Notably, at the end of third-quarter 2017, the Terminus 100 was nearly 90% leased. The company has 50% ownership interest in the office tower.
In fact, the new lease reinforces the impressive growth being witnessed by the company at Terminus 100. Furthermore, this asset is consistent with the company portfolio that consists of Class A office assets. These trophy assets are concentrated in high-growth Sun Belt markets, which, due to the long-term demographic trends, display above-average job growth. Thus, the company’s assets enjoy high demand and rental growth.
Cousin Properties currently carries a Zacks Rank #3 (Hold). Moreover, shares of the company have outperformed its industry, in the year so far. While the stock has gained 10.2%, the industry has recorded growth of 4.8% during this period.
Franklin Street Properties’ funds from operations (FFO) per share estimates for 2017 remained unchanged at $1.05 over the past month. Its share price has inched up 0.9% in three months’ time.
Columbia Property Trust’s FFO per share estimates for the current year have remained unchanged at $1.15 in a month’s time. Over the past three months, the stock has gained 5.9%.
MedEquities Realty’s 2017 FFO per share estimates remained unchanged at $1.12 over the past month. The stock has been down 5.7% for the past three months.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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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Cousins Properties (CUZ) Signs Office Lease at Terminus 100
Cousins Properties (CUZ - Free Report) recently announced that it has signed a new lease with WeWork Companies for office space at Terminus 100 in the Buckhead submarket of Atlanta. The companies have agreed on tenancy for 48,000 square feet of prime office accommodation for a 14-year period.
Per a What Now Atlanta article, with this lease, WeWork is set to open its fourth co-working space in Atlanta and second in the Buckhead district. The lease will enable this co-working giant to accommodate around 840 members with private offices, including rooms for 36 members. The space will also offer conference rooms and space for events. Amid the rising popularity of co-working concept, WeWork has expanded its footprint Atlanta to address its growth requirements.
Terminus 100 is a 27-storey premium office tower, spread across 660,000 square feet of space. It is situated at the intersection of Peachtree and Piedmont. Notably, the hub is a suitable choice for the company as it is well located in one of the largest urban mixed-use development area in the nation.
The composition of Terminus, with high-end restaurants, retail outlet as well as residential facilities, has enabled Cousin Properties to attract top office tenants for this property. Notably, at the end of third-quarter 2017, the Terminus 100 was nearly
90% leased. The company has 50% ownership interest in the office tower.
In fact, the new lease reinforces the impressive growth being witnessed by the company at Terminus 100. Furthermore, this asset is consistent with the company portfolio that consists of Class A office assets. These trophy assets are concentrated in high-growth Sun Belt markets, which, due to the long-term demographic trends, display above-average job growth. Thus, the company’s assets enjoy high demand and rental growth.
Cousin Properties currently carries a Zacks Rank #3 (Hold). Moreover, shares of the company have outperformed its industry, in the year so far. While the stock has gained 10.2%, the industry has recorded growth of 4.8% during this period.
Better-ranked stocks in the REIT space include Franklin Street Properties (FSP - Free Report) , Columbia Property Trust and MedEquities Realty Trust (MRT - Free Report) . All three carry a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Franklin Street Properties’ funds from operations (FFO) per share estimates for 2017 remained unchanged at $1.05 over the past month. Its share price has inched up 0.9% in three months’ time.
Columbia Property Trust’s FFO per share estimates for the current year have remained unchanged at $1.15 in a month’s time. Over the past three months, the stock has gained 5.9%.
MedEquities Realty’s 2017 FFO per share estimates remained unchanged at $1.12 over the past month. The stock has been down 5.7% for the past three months.
Note: All EPS numbers presented in this write up represent funds from operations (“FFO”) per share. 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.
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 >>