Cousins Properties (NYSE:CUZ) Price Target Raised to $30.00

Cousins Properties (NYSE:CUZ) had its price target hoisted by Evercore ISI from $29.00 to $30.00 in a research report report published on Monday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other equities analysts have also recently commented on the stock. Barclays boosted their target price on shares of Cousins Properties from $25.00 to $30.00 and gave the company an overweight rating in a research report on Tuesday, July 30th. StockNews.com upgraded Cousins Properties from a sell rating to a hold rating in a research note on Thursday, May 23rd. Robert W. Baird lifted their price target on Cousins Properties from $29.00 to $31.00 and gave the company an outperform rating in a research note on Wednesday, July 31st. Truist Financial upped their price objective on Cousins Properties from $26.00 to $30.00 and gave the stock a buy rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company lifted their target price on Cousins Properties from $26.00 to $31.00 and gave the company an overweight rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $28.29.

Cousins Properties Stock Up 0.6 %

Shares of CUZ opened at $29.14 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $4.43 billion, a PE ratio of 59.47, a P/E/G ratio of 4.73 and a beta of 1.31. The firm’s 50 day moving average is $27.12 and its 200-day moving average is $24.50. Cousins Properties has a 12 month low of $17.40 and a 12 month high of $29.77.

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

Cousins Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Thursday, October 3rd. Cousins Properties’s payout ratio is 261.22%.

Insider Activity

In related news, CAO Jeffrey D. Symes sold 5,997 shares of Cousins Properties stock in a transaction that occurred 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 in the company, valued at approximately $352,440.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cousins Properties

A number of institutional investors have recently made changes to their positions in CUZ. Norges Bank bought a new position in shares of Cousins Properties during the fourth quarter worth about $35,502,000. Heitman Real Estate Securities LLC acquired a new position in shares of Cousins Properties in the 4th quarter worth approximately $32,105,000. Balyasny Asset Management L.P. lifted its position in shares of Cousins Properties by 49.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,781,184 shares of the real estate investment trust’s stock worth $67,722,000 after purchasing an additional 916,508 shares during the period. Jennison Associates LLC increased its position in shares of Cousins Properties by 75.6% during the first quarter. Jennison Associates LLC now owns 1,917,908 shares of the real estate investment trust’s stock worth $46,107,000 after buying an additional 825,547 shares during the period. Finally, Swedbank AB bought a new position in Cousins Properties during the first quarter worth $14,306,000. 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.