Cousins Properties (NYSE:CUZ) Sets New 12-Month High – Here’s Why

Cousins Properties Incorporated (NYSE:CUZ) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.61 and last traded at $32.6880, with a volume of 140999 shares changing hands. The stock had previously closed at $31.71.

Analyst Ratings Changes

CUZ has been the topic of a number of recent analyst reports. Mizuho upped their target price on shares of Cousins Properties from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Tuesday, July 21st. Wells Fargo & Company lifted their price target on shares of Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Weiss Ratings raised shares of Cousins Properties from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of Cousins Properties from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Finally, Evercore reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Cousins Properties in a research report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cousins Properties has an average rating of “Moderate Buy” and a consensus price target of $30.91.

Cousins Properties Trading Down 1.2%

The company’s 50 day moving average price is $29.51 and its 200 day moving average price is $26.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.21 and a quick ratio of 1.21. The firm has a market cap of $5.25 billion, a PE ratio of -1,062.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.19.

Cousins Properties (NYSE:CUZ) last announced its earnings results on Wednesday, April 29th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.21). The business had revenue of $263.11 million for the quarter, compared to analysts’ expectations of $256.77 million. Cousins Properties had a negative return on equity of 0.11% and a negative net margin of 0.52%.Cousins Properties’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, analysts forecast that Cousins Properties Incorporated will post 2.95 EPS for the current fiscal year.

Cousins Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Monday, July 6th were paid a $0.32 dividend. The ex-dividend date was Monday, July 6th. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. Cousins Properties’s payout ratio is -4,266.67%.

Institutional Trading of Cousins Properties

Several hedge funds have recently modified their holdings of the stock. Algebris UK Ltd. acquired a new position in Cousins Properties during the 4th quarter worth $12,208,000. Intech Investment Management LLC increased its holdings in Cousins Properties by 222.9% during the 4th quarter. Intech Investment Management LLC now owns 251,847 shares of the real estate investment trust’s stock worth $6,493,000 after purchasing an additional 173,840 shares during the period. Norges Bank acquired a new stake in Cousins Properties in the 4th quarter valued at about $53,063,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Cousins Properties in the 1st quarter valued at about $1,773,000. Finally, Strs Ohio boosted its stake in shares of Cousins Properties by 18.5% in the 4th quarter. Strs Ohio now owns 474,976 shares of the real estate investment trust’s stock valued at $12,245,000 after buying an additional 74,207 shares during the period. 94.38% of the stock is currently owned by institutional investors and hedge funds.

About Cousins Properties

Cousins Properties Incorporated (NYSE: CUZ) is a publicly traded real estate investment trust (REIT) specializing in the development, acquisition and management of high-quality office and mixed-use properties. Headquartered in Atlanta, the company focuses on urban infill and suburban markets across the Sun Belt, with a strong presence in metropolitan areas such as Atlanta, Austin, Charlotte, Nashville, Orlando and Tampa. Its core activities encompass full-service property leasing, asset management and construction oversight, serving a diverse mix of corporate and institutional tenants.

Founded in 1958 as a privately held real estate concern, Cousins Properties completed its initial public offering in 1992.