Cousins Properties elects Susan Givens to board

ATLANTA - Cousins Properties (NYSE: NYSE:CUZ), a prominent real estate investment trust with a market capitalization of $5 billion and a notable 46-year track record of consecutive dividend payments, announced the retirement of Lillian C. Giornelli from its Board of Directors at the end of her current term, marking the conclusion of her 26 years of service. According to InvestingPro, the company currently offers an attractive dividend yield of 4.25%. The company also revealed the election of Susan L. Givens as an independent director, effective April 1, 2025.

Giornelli, who has been a part of the board since May 1999, received commendation for her contributions, particularly through periods of significant growth and change for the company, including two mergers and market expansions.

Givens, with over two decades of experience in the real estate industry, joins the Cousins Board following her recent role as a Senior Managing Director at Blackstone (NYSE:BX). Her career includes key positions such as CEO of New Senior Investment Group (NYSE:SNR), Managing Director at Fortress Investment Group, and roles at Seaport Capital and Deutsche Bank (ETR:DBKGn). She also holds an MBA from Harvard University.

Bob Chapman, non-executive Chairman of Cousins Properties, expressed enthusiasm for Givens’ addition to the board, citing her extensive leadership experience across multiple real estate investment trusts (REITs) and investment platforms. Colin Connolly, President and CEO of Cousins, also highlighted her broad experience in the real estate sector with both public and private companies, anticipating meaningful contributions to the board.

Givens expressed her eagerness to support Cousins Properties’ continued growth, acknowledging the company’s strong position in the office sector.

Ferguson Partners advised the Board on this appointment. With Givens’ election, the Cousins Board will maintain its composition of nine directors following the 2025 Annual Shareholder Meeting.

Cousins Properties specializes in Class A office towers in Sun Belt markets and is known for its expertise in development, acquisition, leasing, and management of high-quality real estate assets. InvestingPro analysis indicates the company is trading at a high earnings multiple, with a P/E ratio of 88.5, and maintains a "FAIR" overall financial health score. Investors seeking deeper insights into CUZ’s valuation and financial metrics can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, covering over 1,400 US equities. This announcement is based on a press release statement.

In other recent news, Cousins Properties has been the subject of several analyst upgrades and significant financial maneuvers. Mizuho (NYSE:MFG) analysts recently upgraded Cousins Properties from Underperform to Neutral, setting a new price target of $30.00. This change in rating is attributed to the company’s strengthening fundamentals in the Austin market and its ability to expand occupancy rates.

Simultaneously, Jefferies upgraded Cousins Properties from Hold to Buy, increasing the price target to $36.00. This optimistic outlook is based on the quality of the company’s real estate portfolio in the Sunbelt markets, which are expected to continue to attract in-migration.

In addition to these upgrades, Truist Securities reaffirmed a Buy rating on Cousins Properties and increased its price target to $33.00. The firm emphasized the company’s robust property portfolio and recent acquisitions, which are expected to contribute positively to its financial position.

In the realm of financial activities, Cousins Properties announced the pricing of a $400 million offering of senior unsecured notes. The proceeds from this offering are intended to partially fund the acquisition of Sail Tower, a premium office property in Austin.

Lastly, Baird maintained an Outperform rating on Cousins Properties and increased the price target to $34.00 following the company’s acquisition of Sail Tower. This acquisition is seen as a strategic addition to Cousins Properties’ portfolio, with the property fully leased to Google (NASDAQ:GOOGL) until 2038. These are among the recent developments for Cousins Properties.

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