Latest news with #MichaelConnolly
ABC News
14-05-2025
- Politics
- ABC News
Family of Australian man feared dead in Ukraine hopeful Caleb List is alive
The family of a Queensland man feared killed fighting in Ukraine says they are in shock and holding onto hope he is alive. Caleb List, 25, of Gladstone, was part of the Ukrainian foreign legion, a Ukrainian ground forces military unit of international volunteers. He joined the unit in 2022 and sources have told the ABC he is believed to have died last month during heavy fighting in the Kharkiv region. His uncle, Michael Connolly, said he was fulfilling his dream to be a soldier. "He'd always wanted to be a soldier." He said so far, the family have not had any confirmation about his remains and whether they had been found. "When they can't produce anything of that nature, then there's always hope," Mr Connolly said. He said previously Mr List had been in regular contact with both his parents, but communication was difficult at times. "From the communication that was received he was always happy and healthy and well." Mr Connolly said about 16 months after he first went to Ukraine in 2022, his nephew returned to Australia to visit his family. "We were not aware that he was going to re-enlist … so it was a bit of a surprise," he said. Foreign Minister Penny Wong said consular assistance was being provided to Mr List's family. The advice remains for people not to travel to Ukraine. Mr Connolly described his nephew as a "gentle soul" who would help anyone in need. He said Mr List was passionate about the army and had spent a lot of his young life involved in the army cadets. "He would have lived there if he was possibly able to, his fascination with the armed forces was from a young age," Mr Connolly said. Mr List had previously been rejected to serve in the Australian Army. "It's really hard to speak on his behalf with regards to how and why he did it [fighting in Ukraine]," Mr Connolly said. "His desire to be a soldier was very strong and he wanted to help and make a difference. "From my observation as his uncle, I just saw a young man who lit up whenever he was doing anything with the soldiering side of life." Mr Connolly said as a young child, Mr List was energetic, loved sports and was hands-on. "He was always fixing things on his father's property. He was brought up in the country," he said. Mr Connolly said Mr List spent most of his childhood and adult life in the Gladstone region. Mr List previously worked as a trade assistant at Queensland's Yarwun refinery. Mr Connolly urged the public not to make a value judgement about Mr List. "We pray that he will come back home. "It's very hard to speak about him in past tense because in my mind, he's not — he's not gone."
Yahoo
03-05-2025
- Business
- Yahoo
Cousins Properties Inc (CUZ) Q1 2025 Earnings Call Highlights: Strong Leasing Activity and ...
FFO (Funds From Operations): $0.74 per share for the first quarter. Same-Property Net Operating Income: Increased 2% on a cash basis. Leasing Activity: Completed 539,000 square feet of leases with a 3.2% cash rent roll-up. Occupancy Rate: Portfolio was 90% occupied at the end of the first quarter, up from 88.4% in the previous year. Revenue Guidance: Increased midpoint to $2.79 per share, representing a 3.7% growth rate over last year. Net Debt to EBITDA: 4.9x, indicating strong leverage position. Same-Property Cash NOI Growth: 4% GAAP and 2% cash growth year-over-year. Transaction Activity: Received payoff of $138 million mortgage loan and $12.8 million mezzanine loan. Development Pipeline: Current pipeline includes a 50% interest in Neuhoff, Nashville. FFO Guidance for 2025: Anticipated between $2.75 and $2.83 per share. Warning! GuruFocus has detected 4 Warning Signs with CUZ. Release Date: May 02, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Cousins Properties Inc (NYSE:CUZ) reported a strong first quarter with $0.74 per share in FFO and a 2% increase in same-property net operating income on a cash basis. The company completed 539,000 square feet of leases during the quarter, marking the 44th consecutive quarter of positive rent roll-up. Cousins Properties Inc (NYSE:CUZ) increased the midpoint of its guidance to $2.79 per share, representing a 3.7% growth rate over the previous year. The company's portfolio was 90% occupied at the end of the first quarter, up from 88.4% the previous year. Cousins Properties Inc (NYSE:CUZ) maintains a strong balance sheet with low leverage and high liquidity, positioning it well to capitalize on market opportunities. Recent tariff discussions have created macro uncertainty, impacting the REIT sector with increased volatility in capital markets. The expiration of Bank of America's lease in Charlotte is expected to be a small setback in the company's leasing process. Higher construction costs could delay potential new development starts, affecting future growth opportunities. The company anticipates occupancy to decline through the third quarter before improving towards the end of the year. There is a bid-ask spread in the market due to recent disruptions in capital markets, which could affect acquisition opportunities. Q: Given the robust demand pipeline and high occupancy, do you anticipate rent spikes across the portfolio, and can you discuss the ability to push net effective rents in today's environment? A: Michael Connolly, CEO: The backdrop for the lifestyle office sector is positive, with demand improving and supply declining. This should rebalance the market and lead to positive improvements in leasing market volume and lease economics. We are seeing signs of tightening, with concessions and tenant improvement allowances leveling off, which should eventually lead to rental rate improvements. If new supply remains low, we could see significant rent increases, especially compared to new construction rents, which are often 50% higher. Q: Is there something in the near-term acquisition pipeline, given the forward equity raise at the start of the year? A: Michael Connolly, CEO: We are seeing more owners exploring sales, possibly due to delayed decisions. However, recent capital market disruptions have created a bid-ask spread. We are evaluating a variety of opportunities and are optimistic about finding creative ways to deploy capital this year, as highlighted by our forward equity raise. Q: Can you provide more color on the leasing pipeline by market and industry? Are you seeing any big tech picking up? A: Richard Hickson, EVP of Operations: The pipeline is diversified, with a current overweight in legal, showing pent-up demand. We see strong demand in Atlanta, Charlotte, and Phoenix, where we have more availability. Over 70% of our pipeline is new and expansion leasing opportunities, indicating a healthy market. Q: Are you seeing any more or better opportunities on the debt side given recent credit market disruptions? A: Michael Connolly, CEO: It's possible we will look at debt opportunities as an interesting way to invest, given recent market dislocation. We are not looking to build a large-scale debt book but will consider select investments if they arise and are at the right basis. Q: With your balance sheet well-positioned, how large could the acquisition opportunity be this year while balancing leverage targets? A: Gregg Adzema, CFO: We typically raise incremental capital on a leverage-neutral basis when executing transactions. We will assess available funding options at the time of potential acquisitions, considering credit spreads, share price, and asset sales. We have $64 million of forward equity, which is a powerful asset for future transactions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
