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Spotlight on REITs: Cousins Properties INC

Money Manager | Monday, January 23rd, 2012

Cousins Properties INC: This Real Estate Investment Trust specializes in office space, creating the perfect balance of equity and liquid cash. The company was founded in 1958 in Atlanta Georgia. The company buys property as well as develops them and manages them making it a multi-talented company.

Cousins Properties INC is a publicly traded company and it trades on the New York Stock Exchange as CUZ, it is currently trading at $8.53 per common stock (Jan 2011). Cousins Properties INC is also one of the very oldest publicly traded REITs in the whole country, when it entered the public market in 1962 and a Real Estate Investment Trust (REIT) in only 1982.

This company is somewhat of an icon in its market, it has been around forever and has never sold out or declared bankruptcy, this company also leases all of its own property as well as manages it and develops it, Cousins Properties has its hands on every aspect of the business from the ground up, insuring the quality of the job.

In 2009 the company’s annual revenue was over $224.9 million dollars US, making it not only the Oldest REIT but the largest and most profitable one. This company has developed some of the nation’s most recognized buildings such as the : Bank of America plaza, American Cancer Society Center, OMNI Coliseum and the frost bank tower, these are only some of the high end developments that this company has done over the years.

Founder Thomas Cousins was said to have developed over 20 million square feet of commercial space in his reign as CEO of Cousins Properties INC, in 2002 he stepped down as CEO, and in 2006 he retired all together.

Cousins Properties INC will also develop housing developments and retail space as well as its office space, although it is known for its development of high end office space all over the USA. The properties developed by Cousins Properties INC are known to have some of the best occupancy rates in the country as well as the best customer satisfaction.

As of January 2011 the company has a current market value of $883.23 million dollars, and an estimate of higher yearly dividends this year.

Cousins Properties INC is truly a success story a company that was built by one man who started off small with very little properties and then grew into a multi-billion dollar corporation; this was due to the slow growth and the due diligence of every purchase and development. All new REIT owners and CEO’s look to this company for guidance and insight, owning some of the most loved building in the USA makes it an icon in its own right.

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