Cousins Properties (NYSE:CUZ) Price Target Raised to $34.00

Cousins Properties (NYSE:CUZ) had its target price boosted by Robert W. Baird from $33.00 to $34.00 in a research note published on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the real estate investment trust’s stock.

CUZ has been the subject of several other research reports. Evercore ISI upped their target price on Cousins Properties from $29.00 to $30.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price target on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Truist Financial upped their price target on Cousins Properties from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets lowered Cousins Properties from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $31.00 to $32.00 in a research report on Tuesday, December 3rd. Finally, StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.71.

Cousins Properties Price Performance

NYSE:CUZ opened at $30.32 on Thursday. Cousins Properties has a 12-month low of $21.58 and a 12-month high of $32.55. The company’s 50-day moving average is $30.87 and its two-hundred day moving average is $27.62. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 91.88, a price-to-earnings-growth ratio of 4.02 and a beta of 1.29. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60.

Cousins Properties (NYSE:CUZ) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.60). The company had revenue of $209.21 million during the quarter, compared to analyst estimates of $212.54 million. Cousins Properties had a net margin of 6.17% and a return on equity of 1.14%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 EPS. Research analysts expect that Cousins Properties will post 2.68 EPS for the current year.

Cousins Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend was Thursday, October 3rd. Cousins Properties’s dividend payout ratio is presently 387.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its position in Cousins Properties by 3,768.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,337,416 shares of the real estate investment trust’s stock worth $68,907,000 after acquiring an additional 2,276,986 shares during the period. Rush Island Management LP acquired a new position in shares of Cousins Properties in the 3rd quarter valued at about $46,393,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Cousins Properties by 411.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,113,403 shares of the real estate investment trust’s stock worth $32,823,000 after purchasing an additional 895,917 shares during the period. Wellington Management Group LLP purchased a new position in Cousins Properties during the third quarter valued at approximately $20,276,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Cousins Properties by 368.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 781,947 shares of the real estate investment trust’s stock valued at $23,052,000 after buying an additional 615,118 shares during the period. 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.