Cousins Properties (NYSE:CUZ) Price Target Increased to $30.00 by Analysts at Evercore ISI

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

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

Cousins Properties Stock Performance

NYSE:CUZ opened at $29.41 on Monday. Cousins Properties has a 12-month low of $17.40 and a 12-month high of $29.77. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $4.47 billion, a PE ratio of 60.02, a price-to-earnings-growth ratio of 4.73 and a beta of 1.31. The firm has a 50-day moving average price of $27.22 and a 200 day moving average price of $24.53.

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

Cousins Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Thursday, October 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, October 3rd. Cousins Properties’s dividend payout ratio is currently 261.22%.

Insider Activity at Cousins Properties

In related news, CAO Jeffrey D. Symes sold 5,997 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $28.13, for a total value of $168,695.61. Following the completion of the sale, the chief accounting officer now owns 12,529 shares of the company’s stock, valued at $352,440.77. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cousins Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Securities Inc. bought a new position in Cousins Properties in the fourth quarter valued at approximately $31,000. Blue Trust Inc. boosted its stake in Cousins Properties by 130.8% in the second quarter. Blue Trust Inc. now owns 1,514 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 858 shares during the last quarter. Versant Capital Management Inc boosted its stake in Cousins Properties by 3,236.7% in the second quarter. Versant Capital Management Inc now owns 1,635 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 1,586 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Cousins Properties in the first quarter valued at approximately $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Cousins Properties in the second quarter valued at approximately $115,000. 94.38% of the stock is owned by institutional investors.

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.