Published On: Fri, Jun 5th, 2015

Current’s Active Stocks: Wells Fargo & Company, (NYSE:WFC), Breitburn Energy Partners, (NASDAQ:BBEP), Cousins Properties Incorporated, (NYSE:CUZ)

On Wednesday, in the course of current trade, Shares of Wells Fargo & Company (NYSE:WFC), gained 1.21%, and is now trading at $56.86, hitting its highest level.

Wells Fargo & Company, NeighborWorks America® and its network member Community Housing Partners recently declared the $4.75 million Wells Fargo HomeLIFT℠ program for Virginia Beach and Norfolk homebuyers. Wells Fargo launched the new HomeLIFT program to assist boost homeownership and strengthen neighborhoods.

Of the HomeLIFT program funds for the two Hampton Roads cities, $4.1 million will go toward down payment assistance grants and program support to assist potential homebuyers overcome the barrier of making a sufficient down payment.

Down payment assistance grants of $15,000 will be accessible for eligible homebuyers with annual incomes that do not exceed 120 percent of the local area median income – which is about $85,100 for a family of four – with income maximums varying depending on family size and type of loan. To be eligible, homebuyers must meet criteria counting concluding an eight-hour homebuyer education session with Community Housing Partners, a HUD-approved counselor.

Wells Fargo & Company provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. Its Community Banking segment offers checking, savings, market rate, individual retirement, and health savings accounts, in addition to time deposits and remittances; and lines of credit, auto floor plan lines, equity lines and loans, equipment and transportation loans, education and residential mortgage loans, and debit and credit cards.

Shares of Breitburn Energy Partners LP (NASDAQ:BBEP), during its Wednesday’s current trading session gained 0.85%, and is now trading at $5.36.

Breitburn Energy Partners, declared a cash distribution of $0.04166 per common unit for the third month attributable to the first quarter of 2015, payable on June 12, 2015, to record holders of its common units at the close of business on June 8, 2015. This monthly distribution is equal to a distribution of $0.50 per common unit on an annualized basis.

Breitburn also declared distributions for its 8.25% Series A Cumulative Redeemable Perpetual Preferred Units (BBEPP) and 8.0% Series B Perpetual Convertible Preferred Units. A cash distribution of $0.171875 per Series A Unit, is payable on July 15, 2015, to record holders of its Series A Units at the close of business on June 30, 2015. This monthly distribution is equal to an annual distribution of $2.0625 per Series A Unit. Breitburn has elected to pay the distribution on the Series B Units in kind by issuing additional Series B Units instead of paying a cash distribution. A distribution of 0.006666 PIK unit per Series B Unit is payable on June 15, 2015, to record holders of Series B Units at the close of business on May 29, 2015.

Breitburn Energy Partners LP, an independent oil and gas partnership, acquires, exploits, and develops oil, natural gas liquids (NGLs), and natural gas properties in the United States.

 

Finally, Cousins Properties Incorporated (NYSE:CUZ), gained 5.28% Wednesday.

Cousins Properties Incorporated, declared that it has signed a lease renewal with Transocean Ltd. for 255,413 square feet at Greenway Plaza in Houston, TX.

Transocean, the fourth largest customer in Cousins’ Houston portfolio, presently occupies 4 Greenway Plaza in its entirety. This 255,413 square foot transaction renews 100 percent of their current space at 4 Greenway Plaza and extends their expiration on this space from January 2017 to January 2023. Transocean also presently occupies an additional 13,552 square feet of space in 3800 Buffalo Speedway at Greenway Plaza which expires January 2017.

Greenway Plaza is a 4.5 million square-foot Class A office complex located in the Greenway submarket of Houston, TX. With the Transocean renewal, leasing at Greenway Plaza now stands at 90 percent. Bob Boykin, Warren Savery, Bubba Harkins and Will Hightower represented Cousins in this transaction.

Cousins Properties Incorporated, a real estate investment trust (REIT), owns, develops, and manages real estate portfolio, in addition to performs certain real estate-related services in the United States. The company operates through four divisions: Office/Multi-Family, Retail, Industrial, and Land.

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