Cousins Properties (NYSE:CUZ) Price Target Raised to $31.00

Cousins Properties (NYSE:CUZ - Free Report) had its price objective lifted by Mizuho from $30.00 to $31.00 in a research note released on Monday morning,Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust's stock.

Several other equities research analysts also recently weighed in on the stock. Wall Street Zen raised shares of Cousins Properties from a "sell" rating to a "hold" rating in a research note on Thursday, May 8th. Truist Financial downgraded shares of Cousins Properties from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Wednesday, July 2nd. Wells Fargo & Company cut their target price on shares of Cousins Properties from $34.00 to $32.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Evercore ISI upped their target price on shares of Cousins Properties from $30.00 to $31.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Jefferies Financial Group initiated coverage on shares of Cousins Properties in a research note on Monday, March 17th. They set a "buy" rating and a $35.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.50.

Cousins Properties Trading Down 2.0%

Shares of CUZ traded down $0.57 during trading on Monday, reaching $28.16. 412,891 shares of the company traded hands, compared to its average volume of 1,353,738. Cousins Properties has a twelve month low of $24.02 and a twelve month high of $32.55. The stock has a market cap of $4.73 billion, a PE ratio of 85.34, a price-to-earnings-growth ratio of 2.68 and a beta of 1.33. The stock has a 50-day simple moving average of $29.03 and a 200-day simple moving average of $29.06. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62.

Cousins Properties (NYSE:CUZ - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The business had revenue of $6.81 million during the quarter, compared to analysts' expectations of $238.49 million. Cousins Properties had a net margin of 5.97% and a return on equity of 1.15%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.65 earnings per share. On average, analysts anticipate that Cousins Properties will post 2.76 earnings per share for the current year.

Cousins Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, July 7th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date of this dividend is Monday, July 7th. Cousins Properties's dividend payout ratio is presently 387.88%.

Institutional Investors Weigh In On Cousins Properties

A number of large investors have recently modified their holdings of CUZ. Vanguard Group Inc. boosted its holdings in shares of Cousins Properties by 3.8% in the 1st quarter. Vanguard Group Inc. now owns 25,753,741 shares of the real estate investment trust's stock valued at $759,735,000 after buying an additional 951,637 shares in the last quarter. APG Asset Management US Inc. boosted its holdings in shares of Cousins Properties by 0.3% in the 4th quarter. APG Asset Management US Inc. now owns 7,853,306 shares of the real estate investment trust's stock valued at $240,625,000 after buying an additional 19,657 shares in the last quarter. Resolution Capital Ltd boosted its holdings in shares of Cousins Properties by 33.5% in the 1st quarter. Resolution Capital Ltd now owns 5,886,133 shares of the real estate investment trust's stock valued at $173,641,000 after buying an additional 1,477,044 shares in the last quarter. Centersquare Investment Management LLC boosted its holdings in shares of Cousins Properties by 11.7% in the 4th quarter. Centersquare Investment Management LLC now owns 5,600,905 shares of the real estate investment trust's stock valued at $171,612,000 after buying an additional 585,659 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Cousins Properties by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 3,072,221 shares of the real estate investment trust's stock valued at $94,160,000 after buying an additional 208,044 shares in the last quarter. 94.38% of the stock is owned by hedge funds and other institutional investors.

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.