Cousins Properties (NYSE:CUZ) Sets New 1-Year High - Here's What Happened

Key Points

• Cousins Properties shares reached a new 52-week high of $32.61 and were last trading near $32.69, up 2.9% from the prior close.
• Analyst sentiment is generally positive: six analysts rate the stock a Buy and three recommend Hold, producing a “Moderate Buy” consensus and an average price target of $30.91.
• The REIT reported a quarterly EPS loss of $0.15, missing estimates, although revenue rose 7.4% year over year to $263.11 million. It also paid a quarterly dividend of $0.32, equivalent to a 3.9% annualized yield.

Cousins Properties Incorporated (NYSE:CUZ - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $32.61 and last traded at $32.6880, with a volume of 140999 shares traded. The stock had previously closed at $31.71.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Evercore reaffirmed an "outperform" rating and set a $34.00 target price on shares of Cousins Properties in a research report on Monday, July 6th. Barclays raised their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Wells Fargo & Company boosted their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. Mizuho upped their price objective on shares of Cousins Properties from $27.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Cousins Properties from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $30.91.

Cousins Properties Stock Up 2.9%

The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of -1,089.47, a P/E/G ratio of 2.35 and a beta of 1.19. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.83. The company's 50 day moving average price is $29.28 and its 200 day moving average price is $26.06.

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

Cousins Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Monday, July 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.9%. Cousins Properties's dividend payout ratio is currently -4,266.67%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in Cousins Properties by 128.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,232 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 692 shares during the last quarter. Avalon Trust Co purchased a new position in Cousins Properties during the 1st quarter worth approximately $39,000. Arax Advisory Partners purchased a new position in Cousins Properties during the 4th quarter worth approximately $39,000. Clearstead Advisors LLC raised its position in Cousins Properties by 176.1% during the 4th quarter. Clearstead Advisors LLC now owns 1,803 shares of the real estate investment trust's stock worth $46,000 after buying an additional 1,150 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake in Cousins Properties by 92.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,573 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 755 shares during the period. 94.38% of the stock is currently owned by hedge funds and other institutional investors.

Cousins Properties Company Profile

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.

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