Cousins Properties, Tier REIT to merge creating an office REIT with combined market cap of $5.9 billion [MarketWatch]
Cousins Properties Incorporated (CUZ)
Last cousins properties incorporated earnings: 4/30 05:07 pm
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Source: MarketWatch
Cousins Properties, Tier REIT to merge creating an office REIT with combined market cap of $5.9 billion Cousins Properties Inc. CUZ, -1.59% and Tier REIT Inc. TIER, -1.43% announced Monday a merger deal, creating a office real estate investment trust with a combined equity market capitalization of about $5.9 billion. The stocks are still inactive in premarket trade. Under terms of the 100% stock deal, Cousins will exchange 2.98 shares of newly issued shares for each Tier stock outstanding. Based on Friday's closing prices, that values Tier shares at $29.44 each, a 15.6% premium. The deal is expected to close in the third quarter of 2019, at which time Cousins shareholders will own 72% of the combined company and Tier stockholders will own 28%. The companies expect annual net savings of $18.5 million after closing. "The company will own an unmatched portfolio of trophy office properties in the premier submarkets of Atlanta, Austin, Charlotte, Dallas, Phoenix and Tampa," said Cous
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CUZ
News
- Cousins Properties Incorporated (NYSE: CUZ) had its price target lowered by analysts at Barclays PLC from $29.00 to $25.00. They now have an "overweight" rating on the stock.MarketBeat
- Cousins Properties Announces Its First Quarter 2024 Common Stock Dividend [Yahoo! Finance]Yahoo! Finance
- Cousins Properties Announces Its First Quarter 2024 Common Stock DividendPR Newswire
- Cousins Properties Incorporated (NYSE: CUZ) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Cousins Properties Incorporated (NYSE: CUZ) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
CUZ
Earnings
- 2/7/24 - In-Line
CUZ
Sec Filings
- 3/14/24 - Form DEF
- 3/14/24 - Form DEFA14A
- 2/21/24 - Form 4
- CUZ's page on the SEC website