Cousins Properties (NYSE:CUZ) Price Target Lowered to $32.00 at Wells Fargo & Company

Cousins Properties (NYSE:CUZ) had its target price trimmed by Wells Fargo & Company from $34.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on CUZ. StockNews.com raised shares of Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Wolfe Research raised shares of Cousins Properties from a “peer perform” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Monday, April 7th. Jefferies Financial Group assumed coverage on shares of Cousins Properties in a research note on Monday, March 17th. They issued a “buy” rating and a $35.00 price target for the company. Evercore ISI upped their price target on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, Robert W. Baird cut their target price on shares of Cousins Properties from $34.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Cousins Properties Trading Down 2.2%

Shares of NYSE:CUZ opened at $28.02 on Monday. The company has a 50 day moving average of $27.92 and a 200-day moving average of $29.56. The firm has a market cap of $4.70 billion, a P/E ratio of 93.40, a P/E/G ratio of 2.98 and a beta of 1.34. Cousins Properties has a twelve month low of $22.01 and a twelve month high of $32.55. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.64.

Cousins Properties (NYSE:CUZ) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $6.81 million during the quarter, compared to analyst estimates of $238.49 million. Cousins Properties had a net margin of 5.36% and a return on equity of 1.00%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. As a group, analysts anticipate that Cousins Properties will post 2.76 earnings per share for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Thursday, April 3rd were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.57%. The ex-dividend date was Thursday, April 3rd. Cousins Properties’s dividend payout ratio is presently 387.88%.

Institutional Trading of Cousins Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Resolution Capital Ltd purchased a new stake in shares of Cousins Properties in the 4th quarter valued at approximately $135,094,000. GRS Advisors LLC purchased a new stake in shares of Cousins Properties in the 4th quarter valued at approximately $63,759,000. Norges Bank purchased a new stake in shares of Cousins Properties in the 4th quarter valued at approximately $57,194,000. Rush Island Management LP lifted its position in shares of Cousins Properties by 91.4% in the 4th quarter. Rush Island Management LP now owns 3,011,843 shares of the real estate investment trust’s stock valued at $92,283,000 after acquiring an additional 1,438,127 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Cousins Properties by 11.1% in the 4th quarter. Principal Financial Group Inc. now owns 13,491,300 shares of the real estate investment trust’s stock valued at $413,375,000 after acquiring an additional 1,350,352 shares in the last quarter. 94.38% of the stock is owned by institutional investors and hedge funds.

About Cousins Properties

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.