Cousins Properties Inc. (CUZ) Downgraded by Stifel Nicolaus
Stifel Nicolaus lowered shares of Cousins Properties Inc. (NYSE:CUZ) from a hold rating to a sell rating in a report issued on Thursday. They currently have $9.50 price objective on the real estate investment trust’s stock, down from their prior price objective of $11.50. The analysts noted that the move was a valuation call.
CUZ has been the topic of a number of other reports. Zacks Investment Research lowered Cousins Properties from a buy rating to a hold rating in a report on Friday, July 29th. Robert W. Baird lowered Cousins Properties from an outperform rating to a neutral rating and set a $11.00 price objective on the stock. in a report on Wednesday, August 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $10.88.
Cousins Properties (NYSE:CUZ) opened at 10.16 on Thursday. The company has a market capitalization of $2.14 billion, a PE ratio of 15.35 and a beta of 1.14. Cousins Properties has a 12-month low of $7.53 and a 12-month high of $11.40. The company has a 50 day moving average price of $10.75 and a 200-day moving average price of $10.57.
Cousins Properties (NYSE:CUZ) last issued its quarterly earnings data on Tuesday, July 26th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Cousins Properties had a net margin of 37.51% and a return on equity of 8.41%. The firm earned $92.70 million during the quarter, compared to analyst estimates of $89.52 million. During the same period in the prior year, the company earned $0.21 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. On average, analysts anticipate that Cousins Properties will post $0.86 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, August 19th. Cousins Properties’s dividend payout ratio (DPR) is currently 47.76%.
Several hedge funds have recently added to or reduced their stakes in CUZ. 1832 Asset Management L.P. acquired a new stake in shares of Cousins Properties during the first quarter valued at $5,297,000. M&T Bank Corp increased its stake in shares of Cousins Properties by 10.9% in the first quarter. M&T Bank Corp now owns 12,607 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 1,239 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Cousins Properties during the first quarter valued at $924,000. Palisade Capital Management LLC NJ increased its stake in shares of Cousins Properties by 18.0% in the first quarter. Palisade Capital Management LLC NJ now owns 1,331,183 shares of the real estate investment trust’s stock valued at $13,818,000 after buying an additional 203,331 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Cousins Properties during the first quarter valued at $850,000. 99.72% of the stock is currently owned by institutional investors.
About Cousins Properties
Cousins Properties Incorporated (Cousins) is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on development, acquisition, leasing and property management. The Company’s investment strategy is to purchase Class A office assets or locate opportunistic development or redevelopment projects in its core markets to which it can add value through relationships, capital, or market expertise.
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