Cousins Properties
{{short description|American real estate company}}
{{Infobox company
| name = Cousins Properties Incorporated
| logo = Cousins Properties logo.svg
| logo_size =
| type = Public
| traded_as = {{New York Stock Exchange|CUZ}}
S&P 400 component
| foundation = {{Start date and age|1958}}
| founder = Tom Cousins
| location = Atlanta, Georgia, United States
| key_people = {{plainlist|
}}
| revenue = {{increase}} $657 million (2019)
| net_income = {{increase}} $150 million (2019)
| assets = {{increase}} $7.151 billion (2019)
| equity = {{increase}} $4.427 billion (2019)
| num_employees = 331 (2019)
| homepage = {{URL|http://www.cousinsproperties.com/}}
| footnotes = {{cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/25232/000002523220000004/form10-kdecember312019.htm | title=Cousins Properties Incorporated 2019 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission}}
}}
File:Bankofamerica-atlanta-feb09.jpg
Cousins Properties Incorporated is a publicly traded real estate investment trust (REIT) that invests in office buildings in Atlanta, Charlotte, Austin, Phoenix, Tampa, and Chapel Hill, North Carolina. The company has developed notable properties including CNN Center, Omni Coliseum, 191 Peachtree Tower, and Emory Point in Atlanta.
As of December 31, 2019, the company owned wholly or through joint ventures 38 properties comprising 21,767,000 square feet.
History
The company was founded in 1958 by Tom Cousins.{{cite news | url=https://www.reit.com/news/reit-magazine/may-june-2017/cousins-properties-refocusing-urban-properties | title=Cousins Properties Refocusing on Urban Properties | first=Dawn | last=Wotapka | work=National Association of Real Estate Investment Trusts | date=May 26, 2017}}
In 1962, the company became a public company via an initial public offering.
In 1965, the company built an office building in downtown Atlanta.
In the 1970s, the company expanded into regional malls, real estate finance, and insurance but pared back after the economy softened.
In 1987, Tom Cousins formed the Cousins Foundation and funded it with stock in the company.{{cite news | url=https://www.bizjournals.com/atlanta/stories/2001/03/05/focus1.html | title=Tom Cousins builds dynasty from the heart | first=Sonny | last=Lufrano | work=American City Business Journals | date=March 5, 2001}}
In 2002, Thomas Cousins retired from his position as CEO, but remained chairman of the board of directors until the end of 2006, at which time he retired.{{cite news | url=https://www.bizjournals.com/atlanta/stories/2006/11/13/daily40.html | title=Thomas Cousins set to retire | work=American City Business Journals | date=November 16, 2006}} R. Dary Stone also stepped down from the president and COO positions in 2002.{{cite news | url=https://www.wsj.com/articles/SB1010447231894923320 | title=Cousins Properties' Stone to Step Aside To Take Post With Operating in Texas | first=Dean | last=Starkman | work=The Wall Street Journal | date=January 8, 2002 | url-access=subscription}}{{cite news | url=https://www.nreionline.com/news/president-cousins-properties-steps-down-0 | title=President of Cousins Properties steps down | first=Jessica | last=Miller | work=National Real Estate Investor | date=January 22, 2002}}
In 2004, the company partnered with Jim Wilson and Associates, Inc. to develop The Avenue at Carriage Crossing.{{cite news | url=https://www.bizjournals.com/memphis/stories/2004/03/08/story2.html | title=Cousins joins in Collierville mall venture | first=Jane | last=Aldinger | work=American City Business Journals | date=March 7, 2004}}
In 2016, the company acquired Parkway Properties and spun off its Houston assets into Parkway, Inc.{{cite press release | url=https://www.prnewswire.com/news-releases/cousins-closes-merger-with-parkway-and-prepares-to-spin-off-combined-companys-houston-based-assets-300340451.html | title=Cousins Closes Merger with Parkway and Prepares to Spin Off Combined Company's Houston-Based Assets | publisher=PR Newswire | date=October 6, 2016}}{{cite press release | url=https://www.prnewswire.com/news-releases/cousins-completes-spin-off-of-parkway-inc-300341165.html | title=Cousins Completes Spin-Off of Parkway, Inc. | publisher=PR Newswire | date=October 6, 2016}}
References
{{Reflist|1}}
External links
{{Finance links
| name = Cousins Properties Incorporated
| google = CUZ
| yahoo = CUZ
| bloomberg = CUZ:US
| symbol = CUZ
| sec_cik = CUZ
}}
{{Authority control}}
{{S&P 400 companies}}
Category:1958 establishments in Georgia (U.S. state)
Category:1960s initial public offerings
Category:Companies based in Atlanta
Category:Companies listed on the New York Stock Exchange
Category:Financial services companies established in 1958