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

Cousins Properties Incorporated (NYSE:CUZ) reached a new 52-week high during mid-day trading on Wednesday . The company 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 several analyst reports. Wells Fargo & Company increased their price target on Cousins Properties from $28.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Evercore reiterated an “outperform” rating and set a $34.00 price target on shares of Cousins Properties in a research report on Monday, July 6th. Wall Street Zen upgraded Cousins Properties from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Barclays lifted their target price on shares of Cousins Properties from $28.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Truist Financial boosted their target price on shares of Cousins Properties from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cousins Properties currently has a consensus rating of “Moderate Buy” and an average price target of $30.91.

Cousins Properties Price Performance

The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -1,089.47, a PEG ratio of 2.35 and a beta of 1.19. The stock has a 50-day moving average price of $29.28 and a 200 day moving average price of $26.06.

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

Cousins Properties Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CUZ. Farther Finance Advisors LLC grew its stake in Cousins Properties by 128.1% in the 4th quarter. Farther Finance Advisors LLC now owns 1,232 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 692 shares during the period. Avalon Trust Co purchased a new stake in Cousins Properties in the 1st quarter worth $39,000. Arax Advisory Partners acquired a new position in Cousins Properties during the fourth quarter worth $39,000. Clearstead Advisors LLC raised its position in Cousins Properties by 176.1% during the fourth quarter. Clearstead Advisors LLC now owns 1,803 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 1,150 shares during the period. Finally, Elevation Wealth Partners LLC lifted its holdings in Cousins Properties by 92.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,573 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

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.