Cousins Properties (NYSE:CUZ) Stock Passes Above 200-Day Moving Average – Here’s What Happened

Cousins Properties Incorporated (NYSE:CUZ)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.40 and traded as high as $30.72. Cousins Properties shares last traded at $30.64, with a volume of 1,332,022 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Cousins Properties from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Jefferies Financial Group upgraded shares of Cousins Properties from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $36.00 in a research report on Thursday. StockNews.com upgraded Cousins Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Robert W. Baird raised their price target on Cousins Properties from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Finally, Barclays increased their price objective on Cousins Properties from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Cousins Properties Trading Down 0.2 %

The business has a 50 day simple moving average of $30.90 and a two-hundred day simple moving average of $28.42. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.83 billion, a PE ratio of 92.58, a price-to-earnings-growth ratio of 4.02 and a beta of 1.29.

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

Cousins Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, January 3rd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Friday, January 3rd. Cousins Properties’s dividend payout ratio (DPR) is 387.88%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUZ. Larson Financial Group LLC raised its holdings in shares of Cousins Properties by 49.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,319 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 438 shares during the period. Signaturefd LLC raised its holdings in Cousins Properties by 30.8% in the third quarter. Signaturefd LLC now owns 2,765 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 651 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cousins Properties during the second quarter worth approximately $115,000. Quarry LP grew its stake in Cousins Properties by 74.5% during the third quarter. Quarry LP now owns 3,976 shares of the real estate investment trust’s stock worth $117,000 after buying an additional 1,697 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Cousins Properties by 168.0% in the 3rd quarter. Blue Trust Inc. now owns 4,057 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 2,543 shares during the period. Institutional investors and hedge funds 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.