Cousins Properties Inc. (CUZ) Sees Large Volume Increase
Shares of Cousins Properties Inc. (NYSE:CUZ) saw an uptick in trading volume on Monday . 2,781,456 shares traded hands during trading, an increase of 65% from the previous session’s volume of 1,682,060 shares.The stock last traded at $10.77 and had previously closed at $10.63.
Several brokerages recently weighed in on CUZ. Zacks Investment Research upgraded Cousins Properties from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Wednesday, July 27th. Robert W. Baird downgraded Cousins Properties from an “outperform” rating to a “neutral” rating and set a $11.00 target price for the company. in a research note on Wednesday, August 17th.
The stock has a market capitalization of $2.26 billion and a PE ratio of 16.27. The company’s 50-day moving average is $10.67 and its 200-day moving average is $10.28.
Cousins Properties (NYSE:CUZ) last released its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business earned $92.70 million during the quarter, compared to analysts’ expectations of $89.52 million. During the same quarter last year, the company earned $0.21 earnings per share. Cousins Properties’s revenue for the quarter was down 5.3% on a year-over-year basis. Equities analysts expect that Cousins Properties Inc. will post $0.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, August 19th.
An institutional investor recently raised its position in Cousins Properties stock. Principal Financial Group Inc. boosted its stake in shares of Cousins Properties Inc. (NYSE:CUZ) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,388,459 shares of the real estate investment trust’s stock after buying an additional 63,664 shares during the period. Principal Financial Group Inc. owned 0.65% of Cousins Properties worth $13,093,000 at the end of the most recent quarter.
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.