Cousins Properties (NYSE:CUZ) PT Raised to $31.00

Cousins Properties (NYSE:CUZ) had its target price increased by Wells Fargo & Company from $26.00 to $31.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued reports about the company. Evercore ISI restated an in-line rating and set a $29.00 price objective on shares of Cousins Properties in a research report on Tuesday, August 20th. Robert W. Baird upped their price target on shares of Cousins Properties from $29.00 to $31.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Barclays raised their price objective on shares of Cousins Properties from $25.00 to $30.00 and gave the stock an overweight rating in a research note on Tuesday, July 30th. StockNews.com raised shares of Cousins Properties from a sell rating to a hold rating in a research note on Thursday, May 23rd. Finally, Truist Financial raised their price target on shares of Cousins Properties from $26.00 to $30.00 and gave the stock a buy rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cousins Properties currently has a consensus rating of Moderate Buy and a consensus target price of $28.14.

Cousins Properties Stock Performance

NYSE CUZ opened at $29.43 on Wednesday. The business has a 50-day moving average price of $26.73 and a 200-day moving average price of $24.36. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 60.06, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31. Cousins Properties has a twelve month low of $17.40 and a twelve month high of $29.50. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Cousins Properties (NYSE:CUZ) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.61). The company had revenue of $212.98 million for the quarter, compared to the consensus estimate of $208.18 million. Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $2.75 EPS. As a group, equities research analysts predict that Cousins Properties will post 2.67 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Wednesday, July 3rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Insiders Place Their Bets

In other news, CAO Jeffrey D. Symes sold 5,997 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $28.13, for a total transaction of $168,695.61. Following the sale, the chief accounting officer now directly owns 12,529 shares of the company’s stock, valued at $352,440.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Cousins Properties

A number of hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Cousins Properties in the second quarter worth about $530,000. Creative Planning raised its stake in shares of Cousins Properties by 7.9% during the 2nd quarter. Creative Planning now owns 21,528 shares of the real estate investment trust’s stock worth $498,000 after buying an additional 1,575 shares during the period. Algert Global LLC grew its stake in Cousins Properties by 4.7% in the 2nd quarter. Algert Global LLC now owns 242,686 shares of the real estate investment trust’s stock valued at $5,618,000 after acquiring an additional 10,839 shares during the period. Liberty Mutual Group Asset Management Inc. increased its stake in shares of Cousins Properties by 1.3% during the second quarter. Liberty Mutual Group Asset Management Inc. now owns 68,848 shares of the real estate investment trust’s stock worth $1,594,000 after purchasing an additional 882 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its holdings in Cousins Properties by 37.6% in the 2nd quarter. Lighthouse Investment Partners LLC now owns 585,000 shares of the real estate investment trust’s stock worth $13,543,000 after buying an additional 160,000 shares during the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

Cousins Properties Company Profile

Cousins Properties Incorporated ("Cousins") is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company, based in Atlanta and acting through its operating partnership, Cousins Properties LP, primarily invests in Class A office buildings located in high-growth Sun Belt markets.