Cousins Properties (NYSE:CUZ) Reaches New 1-Year High at $28.58

Cousins Properties Incorporated (NYSE:CUZ) reached a new 52-week high on Thursday . The company traded as high as $28.58 and last traded at $28.50, with a volume of 97034 shares. The stock had previously closed at $28.15.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CUZ. Robert W. Baird boosted their price target on Cousins Properties from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial boosted their price target on 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 Cousins Properties from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Barclays lifted their price objective on 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 price objective on shares of Cousins Properties in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.43.

Cousins Properties Stock Performance

The stock has a 50-day simple moving average of $26.12 and a 200-day simple moving average of $24.16. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $4.31 billion, a PE ratio of 57.82, a P/E/G ratio of 4.68 and a beta of 1.31.

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 analysts’ consensus estimates of $0.66 by ($0.61). Cousins Properties had a net margin of 7.25% and a return on equity of 1.31%. The firm had revenue of $212.98 million for the quarter, compared to analysts’ expectations of $208.18 million. During the same period last year, the firm posted $2.75 EPS. Cousins Properties’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Cousins Properties Incorporated will post 2.67 earnings per share for the current fiscal year.

Cousins Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Wednesday, July 3rd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cousins Properties’s payout ratio is 261.22%.

Institutional Investors Weigh In On Cousins Properties

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new position in shares of Cousins Properties in the second quarter worth about $530,000. Creative Planning lifted its stake in shares of Cousins Properties by 7.9% in the second quarter. Creative Planning now owns 21,528 shares of the real estate investment trust’s stock worth $498,000 after acquiring an additional 1,575 shares in the last quarter. Algert Global LLC lifted its stake in shares of Cousins Properties by 4.7% in the second quarter. Algert Global LLC now owns 242,686 shares of the real estate investment trust’s stock worth $5,618,000 after acquiring an additional 10,839 shares in the last quarter. Liberty Mutual Group Asset Management Inc. lifted its stake in shares of Cousins Properties by 1.3% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 68,848 shares of the real estate investment trust’s stock worth $1,594,000 after acquiring an additional 882 shares in the last quarter. Finally, Lighthouse Investment Partners LLC lifted its stake in shares of Cousins Properties by 37.6% in the second quarter. Lighthouse Investment Partners LLC now owns 585,000 shares of the real estate investment trust’s stock worth $13,543,000 after acquiring an additional 160,000 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

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.