Cousins Properties (NYSE:CUZ) Reaches New 1-Year High at $27.97

Cousins Properties Incorporated (NYSE:CUZ)’s stock price reached a new 52-week high on Friday . The stock traded as high as $27.97 and last traded at $27.91, with a volume of 101963 shares trading hands. The stock had previously closed at $27.29.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CUZ. StockNews.com raised Cousins Properties from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Robert W. Baird increased their price objective on shares of Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective 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. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $29.00 target price on shares of Cousins Properties in a research note on Tuesday. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.86.

Cousins Properties Stock Performance

The stock’s 50-day moving average price is $24.97 and its 200 day moving average price is $23.74. The firm has a market cap of $4.25 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 4.62 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03.

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

Cousins Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Hedge Funds Weigh In On Cousins Properties

A number of institutional investors have recently added to or reduced their stakes in CUZ. State of Alaska Department of Revenue increased its stake in shares of Cousins Properties by 0.6% during the 1st quarter. State of Alaska Department of Revenue now owns 88,588 shares of the real estate investment trust’s stock worth $2,128,000 after purchasing an additional 486 shares during the last quarter. Retirement Systems of Alabama increased its position in Cousins Properties by 0.3% during the first quarter. Retirement Systems of Alabama now owns 190,589 shares of the real estate investment trust’s stock worth $4,582,000 after buying an additional 498 shares during the last quarter. Federated Hermes Inc. raised its stake in Cousins Properties by 2.2% in the second quarter. Federated Hermes Inc. now owns 23,534 shares of the real estate investment trust’s stock valued at $545,000 after buying an additional 501 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of Cousins Properties by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 67,107 shares of the real estate investment trust’s stock valued at $1,634,000 after buying an additional 650 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Cousins Properties by 5.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,952 shares of the real estate investment trust’s stock worth $369,000 after acquiring an additional 769 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

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.