Cousins Properties dips on planned acquisition-related equity offering

Cousins Properties

07/11/2024 22:02

** Shares of Cousins Properties  CUZ.N  down 1.4% post-market to
$31.13 as it looks to fund acquisition with equity
** Atlanta-based REIT announces 6 mln share offering with BofA
as sole bookrunner
** Co to use net proceeds to fund $328.5 mln purchase of office
property in Charlotte, North Carolina, which was announced early
Thurs
    ** If acquisition not completed, co says will use net
proceeds for other property acquisitions and development, or
debt repayment
  
    ** CUZ shares closed up 0.5% at $31.58 on Thurs, extending
YTD gain to 30%
  
    ** Co has ~152.1 mln shares outstanding for $4.8 bln market
cap, per LSEG
  

(Lance Tupper is a Reuters market analyst. The views expressed
are his own))
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380
))